About The Products

Income Protection

THE PLAN
One of the most valuable assets that an individual possesses is his income. The present income and future income expectations of an individual decides the quality of life that he is able to lead. So, it is essential that you start protecting your income right from the time when you are most capable of earning. Income Protection Insurance is by far the most time tested and efficient method to protect your income. Through this insurance, you get a monthly benefit of up to 75% of your income or USD10, 000 whichever is lesser.

PREMIUMS
The premium for income protection is generally decided based on your age, sex and sum insured opted for. In certain cases, the sum insured is also based on individual’s medical history, details of occupation and additional benefits required.  

The first premium is payable in advance following which the initial insurance cover becomes effective for one year. Renewal of the master policy can be made every year, the common annual renewal date being 1st April. The insured gets the chance to renew his income protection cover effective from this date. 

Upon renewal of your income protection cover, the amount of premium payable will be computed each year depending on the sum insured and your age. It is in fact stepped premium which indicates that with the increase in age there is a rise in risk factor and hence the premium increases.        

Renewal
Irrespective of any decline in your health condition, your insurance cover will be renewed every year upon receipt of premium within 30 days from the due date.

Premium Rating
The premium rate may not be constant. In case of any variation, we will communicate the same to you in writing. Changes in premium, if any, are usually effective from next annual renewal date.

Life Insurance

THE PLAN
Term life insurance is an ideal plan for families or businesses. It offers protection through payment of a lump sum in the unfortunate event of the life insured’s death or on diagnosis of a terminal illness.

The major benefit of term life insurance is assisting families or businesses to meet debts such as mortgages, leases and overdrafts, and day-to-day expenses that arise from loss of income. Additional cover can also be taken against permanent total disability.

PREMIUMS
The premium depends on factors such as age, sex and sum insured opted for. Additional factors affecting the premium include medical history, details of occupation and other benefits required.  

The first premium is payable in advance following which the initial insurance cover becomes effective for one year. Renewal of the master policy can be made every year, the common annual renewal date being 1st April. The insured gets the chance to renew his life insurance cover effective from this date. 

Upon renewal of your life insurance cover, the amount of premium payable will be computed each year depending on the sum insured and your age. It is in fact stepped premium which indicates that with the increase in age there is a rise in risk factor and hence the premium increases.        

Renewal
Your insurance cover will be renewed each year irrespective of any decline in your health condition. The only requisite is that the premium needs to be paid within 30 days from the due date.

Premium Rating
There may be variations in the premium rate and the same will be communicated to you in writing. Normally, the changes become effective from the next renewal date.

Critical Illness

THE PLAN
A major illness happening to the earning member of a family may leave the other members in deep financial difficulty. Critical Illness Insurance offers protection to families against such financial hardships resulting from major illnesses. The policy pays a lump sum up to USD 500,000 or equivalent policy currency, depending on the coverage.

PREMIUMS
The following factors decide the premium to be paid: age, sex, sum insured, and in some cases, medical history, occupation and additional benefits opted for.

Initial insurance coverage is for one year, on payment of the first premium in advance. Master policy is usually renewed on 1st April each year.

You can renew your cover with effect from this date.

Following renewal, premium is computed on yearly basis depending on the coverage and your age at the time of renewal. It is stepped premium which increases with age as the risk factor increases.

Renewal
Regardless of any decline in health conditions, you can renew your policy every year, the sole condition being that the premium should be received by the insurer within 30 days from the due date.

Premium Rating
There can be variations in the premium rate which will be communicated to the insured in writing. Changes, if applicable, are normally effective from the next annual renewal date.