MEDLIFE INSURANCE LTD.

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

office@medlife.net
Inhalt:

Family Insurance Plan

 
This package basically equals the EIP programme, but provides on top of that protection for your child with the term insurance rate R1C.
 
fip

FIP is the ideal package for those who seek comprehensive insurance coverage for themselves and their child, combined with an opportunity to invest capital in a profitable way!

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 policyholder dies before the end of the insurance term. The sum to be paid on survival becomes payable at expiry of the contract, while the policyholder is alive.
If the policyholder 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 policyholder 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 policyholder 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 policyholder 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.


R1C
- Additonal risk insurance for your child

If the second person insured (child) dies within the agreed-upon insurance period, funeral expenses and other actual expenses related to the death of this person will be reimbursed up to an amount which equals the sum insured under RZ1. In this case, the contract will remain upright without the additional rate R1C.

 

EXAMPLE

 

Person insured

man/woman 30 years old, child 3 years old

Term of contract

15 years

Annual premium

USD       1.000 / EUR   1.000

Sum insured G5S

USD     13.696 / EUR 13.246

UTZ

USD     13.696 / EUR 13.246

UI

USD     13.696 / EUR 13.246

RZ1

USD       3.000 / EUR   3.000

R1C (child)

USD       3.000 / EUR   3.000

 

 

Case 1:

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

 G5S incl. bonus*):

 USD  10.611 / EUR 10.505

 RZ1: 

 USD    3.000 / EUR 3.000

 UTZ:

 USD  13.696 / EUR 13.246

 Sum payable:

 USD  27.307 / EUR 26.751


 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  27.307 / EUR 26.751.

Please note: If the first insured person dies, the whole contract including all additional rates will be terminated.

Case 2:

The insured child dies (R1C).
What is the amount of benefit the policy holder gets paid out in this case?

If the child insured at R1C dies, the insurer pays out to the policyholder a sum of about USD / EUR 3.000. The main insurance contract continues.

*) 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