About MoneyWise Term Assurance
The policy caters to the welfare of named beneficiaries in the event of the demise of the insured within the duration of the policy.
Why Money Wise Term Assurance?
If no claim is made on the policy till maturity, it provides a mandatory payback based on a proportion of 50%, 75% or 100%, subject to the choice of the policyholder.
The main cover premium consists of the death cover and MoneyWise premiums.
The product has the following optional covers
- Additional Accidental death cover: An additional 20% of the main cover sum assured will be paid to the beneficiary on death due to accidental causes
- Permanent Total disability cover: Policy owner can choose a sum assured that differs from the main cover sum assured but cannot exceed it.
- Waiver of premium on disability
It is compulsory to select this rider when Permanent Total Disability cover is selected.
- Critical Illness cover (policy owner can choose a sum assured that differs from the main cover sum assured but cannot exceed it)
More Details:
The Minimum sum assured for this plan is N1million. Minimum and maximum ages at entry for the Policy Owner/Premium Payer are 18 and 60 respectively. If the Premium Payer is an institution, the age limits do not apply.
