Group Life
This insurance consists of the payment of the insured sum to the family members and/or beneficiaries of the principal insured in the event of his death due to natural or accidental causes. It is intended, for example, for members of a club, employees of a company, members of an organization, debtors of a financial institution or company, debtors of a creditor, parents of students, etc.
Group Life
Group Insurance aimed at:
- Worker’s Collectives
- Members of Cooperatives
- Members of Associations
- Debtors of Financial Institutions
Admission Age:
- Group Life: From 15 to 70 Years of Age (both ages included)
- Additional Benefits
- Accidental Death and Dismemberment (AD&D) Benefit: 15 to 65 Years of Age (both ages included)
- Total and Permanent Disability Benefit as a result of BIAC Illness or Accident: 15 to 65 Years of Age (both ages included)
- Funeral Expenses: 15 to 70 Years of Age (both ages included)
Termination Age:
- Group Life: 71 Years
- Additional Benefits
- Accidental Death and Dismemberment (DI) Benefit: 66 Years
- Total and Permanent Disability Benefit as a Result of BIAC Illness or Accident: 66 Years
- Funeral Expenses: 71 Years
Coverage Offered:
Basic Coverage: covers death from any cause, which may be natural or accidental. In the case of natural death, it must be caused by an illness arising after the effective date of the policy.
We can add three additional benefits to the Basic Coverage, which are:
- Accidental Death and Dismemberment Benefit: this benefit indemnifies the beneficiaries with an additional amount equal to the basic insurance; that is to say, it doubles the amount of the indemnity in case the death of the insured is the result of an accident. If death does not occur as a result of the accident and the insured loses some of his limbs, the indemnity received is based on the table of indemnities for loss of limbs included in the clauses of this benefit.
- Total and Permanent Disability Benefit as a result of an Illness or Accident: in the event that the person becomes totally unable to work, the company pays the insured the amount corresponding to the basic insurance in five annuities.
- Funeral Expenses: the coverage is the same as the basic insurance; what changes is the amount of the indemnity, which is normally a fixed amount, never exceeding US$ 2,000.00.
It should be noted that the three benefits mentioned above are optional; in the case of Debtors of Financial Institutions, we only offer Basic Coverage and the Disability Benefit.
Group Personal Accidents
Group Insurance aimed at:
- Worker’s Collectives
- Members of Cooperatives
- Members of Associations
- University Students
Admission Ages: From 15 to 70 years of age (both ages included).
Termination Ages: 71 years old.
Coverage Offered:
- Accidental Death
- Total and Partial Permanent Disability resulting from an accident.
- Reimbursement of Medical Expenses due to Accident. The maximum indemnity is determined by two modalities which are 10% and 20% of the sum insured offered for accidental death.
It should be noted that this Medical Expense Reimbursement Coverage is the only one that is optional.
Group Debtors’
Basic Coverage: covers death from any cause, which may be natural or accidental; in the case of natural death, it must be caused by an illness arising after the effective date of the policy.
We can add three additional benefits to the Basic Coverage, which are:
- Accidental Death and Dismemberment Benefit: this benefit indemnifies the beneficiaries with an additional sum equal to the basic insurance; that is to say, it doubles the amount of the indemnity in case the death of the insured is the result of an accident. If death does not occur as a result of the accident and the insured loses some of his limbs, the indemnity received is based on the table of indemnities for loss of limbs included in the clauses of this benefit.
- Total and Permanent Disability Benefit as a result of an Illness or Accident: in the event that the person becomes totally unable to work, the company pays the insured in five annuities the sum corresponding to the basic insurance.
- Funeral Expenses: the coverage is the same as the basic insurance; what changes is the amount of the indemnity, which is normally a fixed amount, never more than US$ 2,000.00.
It should be noted that the three benefits mentioned above are optional. In the case of Debtors of Financial Institutions, we only offer Basic Coverage and the Disability Benefit.
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