This contract pays the guaranteed sum assured any time death occurs. Depending on the arrangement, premium payment may stop at age 60 or 65 while cover is still in force.
- Policy term is for a life time
- Mode of premium payment can always be adapted to policyholder’s cash flow
- Minimum and maximum ages at entry are 18 and 65 respectively
- Premium payment period stops at age 60 years or 65 years
- Family protection. It is means of providing for one’s dependent’s in case of death
- It guarantees peace of mind
- Business owners can use the plan as a collateral security to secure loan