Branch office of
Life Insurance Corporation (International) BSC (c)
Contact: Tel: (+971) 4 335 4858 Fax: (+971) 4 335 4684
E-mail : mail@licinternationaluae.com
Branch office of
Life Insurance Corporation (International) BSC (c)
Contact: Tel: (+971) 4 335 4858 Fax: (+971) 4 335 4684
E-mail : mail@licinternationaluae.com
PARTICIPATING
WHOLE LIFE
(LIMITED PAYMENT)
This is a policy that guarantees you cover throughout your life. The premiums, lower than most other policies, are payable for a limited number of years. Bonuses continue to be added to the sum assured every year even after premium-paying term has ceased.
BENEFITS
(i)On death, the full sum assured along with Bonus is payable
(ii)If for some reason you cannot continue paying the premiums after three years' premiums have been paid, the policy will be continued for a proportionately reduced sum assured. You will however not be entitled to any further bonuses thereafter.
PORT
ABILITY
Policy can be transferred to LlC of India on repatriation of the policy holder to India. The transfer will be effected only if full first year's premium is paid and on completion of one year from the date of acceptance, provided the policy is in full force for the full sum assured and on receipt of a written request from the policy holder. The sum assured and attached bonus, if any, shall stand altered to the equivalent Indian rupee amount at the rate of exchange, current on the date on which the request for transfer is received by the Company and subject to the instructions current on that date of Reserve Bank of India.
FLEXIBLE
OPTION IN
PREMIUM PAYMENT
You need not invest big amounts to buy a policy. You can pay monthly, quarterly, half-yearly or yearly installments for the full term (FT) of the policy or limited (LT) to 5 years as per your choice (Standard Conditions apply). The different options are:
a) Limited premium payment facility is available to help you to fulfill your obligation of payment of premium within a period of 5 years and thus earn an attractive discount.
b) Premium Sealing /Communication facility enables you to pay advance premium at an attractive discount and keep the policy in force.
ACCIDENT
DEATH/DISABILITY
BENEFIT
A nominal addition (of one per thousand sum assured for Full Term) to your premium entitles you to additional special benefits as described below subject to certain conditions.
a) The cover under the life policy is doubled in case of death due to accident. The maximum Double Accident Benefit payable is US$ 100,000.
b) In case of permanent and total disability arising out of accident;
1 All future premiums are waived.
2 An additional amount equal to the sum assured will be paid in 120 equal monthly installments spread over 10 years.
3 Moreover, whenever the policy matures or death claim arises, the original sum assured with vested bonuses will be paid, along with unpaid installments of disability benefits if any.
LOAN
FACILITY
You can raise a loan on the security of the policy after the policy has acquired paid-up value by payments of premiums atleast for 3 years for full term policies and 2 years for limited term policies, from the date of commencement. The maximum loan amount will be 90% of eligible surrender value and payable in half-yearly installments at the prevalent rate of interest.
In case of Single Premium policies, loan can be availed after 2 years from the date of commencement of the policy.
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DISCLIAMER
Insurance is a matter of solicitation and the information contained in this site is only intended as general information. It is not necessarily a complete description of all the terms, exclusions and conditions applicable to the products and services offered by LIC (International) BSC (c), and does not constitute financial or insurance advice. You are requested to contact our office for any of your particular insurance needs or for any specific information.
While reasonable efforts have been made to ensure that all electronic information made available is current, complete and accurate, all such information is provided to you "as is" and "as available" without warranty of any kind. LIC (International) BSC (c) and/or Kingstar Insurance Agencies LLC do not warrant the accuracy of the information. LIC (International) BSC (c) and/or Kingstar Insurance Agencies LLC will not accept responsibility for any omissions, inaccuracies and typographical errors, any interruption or delay in access to this site or for any loss incurred from the use of this web site or by downloading materials from it. No warranty regarding non-infringement, security or freedom from computer viruses is given in conjunction with such information and materials.
Kingstar Insurance Agencies LLC reserves its right to correct any part of the said content at any time as and when required at its sole discretion, without prior notice.
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