MEDLIFE INSURANCE LTD.

HEAD OFFICE
Alpha Business Centre
27 Pindarou Street
3rd Floor
Block B
CY-1060 NICOSIA
CYPRUS

office@medlife.net
Inhalt:

Economic Insurance Plan

 
EIP is the ideal package for those who seek comprehensive insurance coverage combined with an opportunity to invest capital in a profitable way!
 
eip

This package includes rate G5S with surplus participation, and additional rates to cover accidental death (rate UTZ) and accidental disability (rate UI) as well as an additonal risk insurance (rate RZ1).


Details:

G5S- Endowment Insurance with graduated death benefits and surplus participation (bonus)

The benefit to be paid in the case of death becomes payable if the insured person dies before the end of the insurance term. The sum to be paid on survival becomes payable at expiry of the contract, while the insured person is alive. If the insured person dies before the end of the insurance term, the death benefit to be paid will amount to as many fractions of the capital sum as years of insurance have expired (including the one in which the event occured) in relation to the agreed-upon permium payment period.

UTZ- Additional accidental death insurance

The amount insured becomes payable, if the insured person dies as a result of an accident within the agreed-upon coverage period.

UI- Additional accidental disability insurance

The amount insured becomes payable, if to the person insured as the result of an accident a minimum of 30% permanent disability occurs. The grade of disability will be determined according to the disability percentage table shown in the General Insurance Conditions.

RZ1- Additional risk insurance

The amount insured becomes payable, if the insured person dies within the agreed-upon coverage period.

  • If the annual premium is less than USD / EUR 500, rate RZ1 cannot be included.
  • If the annual premium is USD / EUR 500 or more, RZ1 is worth USD / EUR 2.000.
  • If the annual premium is USD / EUR 800 or more, RZ1 is worth USD / EUR 3.000.

 

EXAMPLE

 

Person insured

Man/Woman, 30 years old

Term of contract

15 years

Annual premium

USD      1.000 / EUR   1.000

Sum insured G5S

USD    13.917 / EUR 13.460

RZ1

USD      3.000 / EUR   3.000

UTZ

USD    13.917 / EUR 13.460

UI30

USD    13.917 / EUR 13.460


 

Case 1:

The insured person dies as the result of an accident, beneficiary is his wife. 10 years of the contract have passed. 

 G5S incl. bonus*):

 USD 10.783 / EUR  11.333

 RZ1:

 USD   3.000 / EUR    3.000

 UTZ:

 USD 13.917 / EUR  13.460 

 Sum payable:

 USD 27.700 / EUR 27.793

 

If the insured person dies after 10 years of insurance as the result of an accident, the sum payable to the beneficiary amounts to about USD  27.700 / EUR 27.793.





Case 2:

The person insured is alive at the end of the insurance term. What sum is to be paid out?

 G5S:

 USD 13.917 / EUR  13.460

 + bonus*):

 USD   1.424 / EUR    1.965

 Sum payable:

 USD 15.341 / EUR 15.425

At expiy of the contract, after 15 years, the sum to be paid out on survival amounts to about USD 15.341 / EUR 15.425.

 

 



*) Figures referring to future profit shares are the result of calculations made on the basis of present circumstances. The actual amount of the profit sharing bonus will depend on the developments of the capital markets, the actual investment income and the future cost trend and risk experience. Therefore such information is not binding. 

 

V: 1.1.2017