PROTECTION PLAN
Term Assurance
Peace of mind for you and your dear ones
Choosing a term assurance with the adequate sum assured will provide you with a financial peace of mind in case of death or total and permanent disability following Illness or injury.
Loan Protection-Decreasing
Term Assurance
Have peace of mind by protecting your assets
Afri Life Loan Protection, our decreasing term insurance, means that when you commit for a significant financial facility such as a loan, lease or overdraft, you do not have to bear all the risks on your own.
Moreover, we calculate your premium on the fact that your debt decreases over time, which makes it lighter right through.
We ensure that, in case of death or unlucky life events resulting in your total and permanent disability, whatever you have acquired remains in your estate. We take over the repayment of your debt, so that nobody is weighed down with it.
Afri Life Loan Protection lightens the load both for yourself and for your family. This is the sensible choice to go for.
Product Features
Afri Life Term Assurance
| Type of policy | Without profits |
|---|---|
| Can be effected on | Single Life or Joint Life |
| Term | Min. 1 year - max. 30 years |
| Age at entry | Min. 18 next birthday - max. 60 next birthday (Must mature on the 70th birthday) |
| Frequency of premiums | Monthly |
| Minimum sum assured | Rs 200,000 |
| Death benefit | Basic sum assured |
| Accidental death benefit (optional) | Twice basic sum assured |
| Total & permanent disability (optional) | Basic sum assured |
| Critical Illness (optional) | Basic sum assured |
| Remarks | This product may be used as security for residential loans, lease & overdrafts. |
Afri Life Loan Protection Policy
| Type of policy | Without profits |
|---|---|
| Can be effected on | A single life or on joint life |
| Term | Min. 1 year - max. 30 years |
| Age at entry | Min. 18 - max. 60 (N.B) |
| Expiry age limit | 70 Years old |
| Frequency of premiums | Monthly/single premiums |
| Minimum sum assured | Rs 50,000 |
| Death benefit | Decreasing sum assured |
| Disability benefit (optional) | Decreasing sum assured |
| Remarks | No refund or surrender value is payable upon cancellation |