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Life & Medical Insurance

 

Term Life
Term Life with Bonus
Participating Whole Life
Non-Participating Whole Life
20-Pay Life
Mortgage Protection
Endowment
Medical Insurance
20Pay-Funeral Grant plus

 

State Insurance Corporation offers various Life policies. Our aim is to make sure that you are well protected.  Prepare for the unexpected or the inevitable! Ensure that your family will not have to worry about a mortgage left behind.

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Term Life

 

This policy provides cover for a specified number of years,  such as homeowners seeking mortgage protection.

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Term Life with Bonus

 

The difference between this policy and a regular Term Life is that at the end of the specified number of years, while policy is still in force, you will receive up to 25% of the total premium as a bonus.

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Participating Whole Life

 

The policy that offers more!


• Sums assured are payable to the named beneficiary on death of the Insured
• Policyholders can borrow up to 90% of the cash value of the policy
• Participation in the Company's profits
• Policy can be used as collateral

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Non-Participating Whole Life

 

• Premiums are paid for life and the sum assured is paid to the named beneficiary

• Policyholders can borrow up to 90% of the cash value of the policy

• Policy can be used as collateral

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20 pay Life


• Policies carry a Payment Life of 20 years only! Policyholders can receive a maximum    of 25% of the   sum assured up to 15 years after the 20th year!
• Policy remains in force after the paying period as a fully paid up policy!
• The remaining 75% of the Sum assured is paid to the named Beneficiary on the death of the Insured.

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Mortgage Protection

 

Policies range from 15 to 30 years. There is no Cash Surrender Value since premiums are calculated on the reducing balance of the Mortgage Amortization.
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Endowments

 

The sum assured is paid to the named beneficiaries on maturity date, or upon death of the Insured (whichever comes first).

 

• Education Endowment:

A college or University education is foremost in the mind of parents. Usually, these dreams come with high costs! Make that investment for the future! By starting an Education plan now your future graduate will receive the sum assured at age 17. 

Don’t delay!  For more details call State Insurance Corporation today!

 

Retirement Endowment:

This endowment plan matures at age 60…right in time for retirement and pension.  Plan now for your golden years and ensure the type of lifestyle you would like to enjoy after years of long, hard work.

 

Let no one but you determine your quality of life during retirement.  Take charge NOW!!  Make better use of spare cash…Invest all in your Retirement Fund!
Don’t delay!  For more details call State Insurance Corporation today!

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 MEDICAL INSURANCE

 

Medical Insurance provides coverage to an Insured, as a result of illness or bodily injury.  A severe illness, or a number of minor ones in a short period, can wreck the family budget and create a financial burden.

 

At State Insurance Corporation we offer Individual Medical Insurance and Group Medical/ Life Insurance Policies to assist you in those times of need.

 

Individual Medical:
The Individual Medical Policy is sold on an individual basis, with or without Vision and Dental. The Vision and Dental riders are additional enhancements to the policy that are paid according to the schedule of benefits enclosed in the policy. This policy entails Major Medical Benefits.

 

Group Medical/Life:

A Group Medical Insurance Policy is a contract with an employer, other group or organization that covers a Group of Persons identified as individual group. The minimum to start a group is ten (10) persons. Vision and Dental cover can be obtained as additional enhancements that are paid according to the schedule of benefits. It also carries major medical benefits.

Most Group Medical Insurance Plans have higher benefits with a lower premium than an Individual Medical policy.

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20 Pay Funeral Grant Plus

 

Premiums are payable for twenty (20) years with a very small monthly premium. Sums assured range between $30,000 and $50,000.  This policy is available to persons within the age range of 25 to 65 years old. 
With the gradual increase in the cost of funeral expenses please consider this issue seriously; do not leave any burden or financial strain on your loved ones.

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ADDITIONAL ENHANCEMENTS

 

All of our policies have extra enhancements:

 

Disability Waiver

This benefit provides for the waiver of premiums due under the policy to which it is attached in the event of, and during the continuance of the Insured's total disability, provided such disability occurs prior to Insured's 65th birthday, and provided that the Insured has been totally and continuously disabled for a period of not less than six (6) months. 

 

Accidental Death and Dismemberment

This is activated if the Insured encounters death as a result of external, violent and accidental means, and such death or bodily injury occurs within 90 days of the accident and prior to the Insured's 65th birthday. 
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PAYMENT OPTIONS AVAILABLE

• Cash or cheque transactions
• Credit cards – Visa, Master Card, Diners
• Direct Bank-to-Bank premium payment or debit
• Credit Terms Available
• Online Payment Coming Soon!

 

 Special arrangements can be made for Senior Citizens and Special Needs policyholders who may require assistance to complete internal transactions.  Call 481-7823/7824 

 

Our Agents will visit you to facilitate  >>Call us today<<

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