The Royal Term Assurance
This is a cover that provides protection for the beneficiaries of the life assured in the event of death within the defined period.
Features/Benefits
- Assured/ Beneficiary/Loss Payee: This is the party entitled to receive money under an insurance contract on the happening of a stated contingency (death).
- Life Assured: This is the person on the duration of whose life the assurance depends.
- Death Benefits: In the event of death, the agreed proportion of sum assured shall become payable to the named beneficiary (ies).
- Medical Examinations: Free medical examinations/Tests are conducted for sum assured over N 15,000,000.00.
- Premiums are computed based on age, the sum assured and duration of policy. Premiums could be 1% of the sum assured depending on the age of the life proposer
- Policy can be extended to cover disability and medicals.