Premier 2
Georgia exemplifies the saying our hero, the late Marcus Mosiah Garvey :
"The height of great men reached and kept was not attained by sudden flight, but they while their companion slept was toiling upward through the night.”
New Life Plus
A plan which provides a lump sum benefit payable on the first diagnosis of a Critical Illness.
May be sold as a rider (an additional benefit that is attached to a life policy) or as a stand alone policy.
The Critical Illnesses covered under this plan are as follows:
Blindness, Paralysis, Major Burns, Coma, Cancer, Stroke, Kidney Failure, Heart Attack, Multiple Sclerosis, Coronary Artery Disease Surgery, Heart Valve and Structural Surgery, Major Organ Transplant
Purpose:
To provide cash in the event of any one of the above critical illnesses.
Maximum coverage:
$250,000
Minimum coverage:
$55,000 Issue ages:
The policy may be issued to males and females between the ages of 16 and 60 years inclusive. The plan is issued on an ‘age nearest’ basis.
Rider coverage:
Disability Waiver of Premium.
Exceptions:
No benefits are payable on diagnosis of a Critical Illness if it was caused by or it resulted from:
* Intentional self-inflicted injuries, while sane or insane
* Committing, attempting or provoking any criminal offence
* War, declared or undeclared, or any civil disturbance
* Military service
* Intoxication by substances other than those prescribed by a licensed physician, or the inhalation of any gas or toxic substance
* Pregnancy, miscarriage or childbirth
* Taking part or attempting to take part in any capacity in aerial flights except as a fare-paying passenger on an airline which has regularly published schedules and which is licensed by the country in which it is registered to carry passengers for hire.
* Any pre-existing condition (see policy contract).
Grace period:
The policy/rider has a ninety (90) day waiting period during which time no benefits are payable.
Payment of premiums:
The premium, in respect of this plan, is payable on the due dates specified on the Policy Schedule until any one of the following:
- The date of death of the Life Assured
- The date the Life Assured is diagnosed as having one of the Critical Illness outlined above
- The policy anniversary after the Life Assured attains age 65 (hereinafter, referred to as the “Expiry Date. The premium in respect of the Rider, shall be payable along with the premiums on the Life Policy and will not be accepted separately.
Non-payment of premiums:
Should any premium payable in respect of this Rider not be paid on or before its due date:
- The unpaid premium may be paid without addition in the thirty days (hereinafter called “the days of grace”) following such due date, and until the end of the days of grace the Rider shall remain in force. If the said premium is unpaid at the end of the days of grace the Rider shall lapse forthwith.
- After the Rider has lapsed all benefits thereunder shall cease and it shall not be competent for the Life Assured to revive such Rider except with the consent of the company and on such terms and conditions including evidence of insurability as it seemsfit to require.
The inadvertent acceptance by the company of payments of a premium when no longer due will not constitute a waiver of this provision. The premium will be refunded.
Additional details:
New life plus benefit
The coverage is payable on the first diagnosis of any of the Critical Illnesses where death has not occurred within thirty (30) days immediately following the date of diagnosis.
The Rider will then cease to be in force.
Claims must be made no later than six (6) months after the first diagnosis of a Critical Illness.
In the event that age is mis-stated, the amount payable hereunder shall be adjusted to the amount that would have been provided by the same premium at the correct age.
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Agent of the Month
- March 2012
Georgia Williams