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Term Assurance
Life is unpredictable, and financial responsibilities do not stop when income stops.
Term Assurance is designed to protect families, from the financial impact of premature death by providing a simple and affordable life insurance solution.
Term Assurance is a life insurance policy that provides cover for a fixed period of time.
The insurer pays a stated sum assured if death occurs during the policy term. The policy provides pure protection, not savings.
No benefit is payable if the life assured survives the term
Benefits
- Provides financial security for dependants.
- Helps settle outstanding loans and obligations.
- Protects family lifestyle and future plans.
- Affordable life insurance protection.
- Peace of mind for policyholders.
- The policyholder selects a policy term (e.g. 1-15years)
- A sum assured is chosen
- Premiums are paid as agreed
- If death occurs within the term, the benefit is paid to beneficiaries
- If the term expires and the life assured is alive, the policy ends
- Fixed policy duration
- The policy pays out the sum assured upon death of the policyholder within the term of the policy
- No maturity or surrender value
- Lower premiums compared to savings-linked policies
- Simple and easy to understand
- It is a Level Term Assurance which means the sum assured/ premium remains constant throughout the term.
- Can be taken in place of travel insurance.
- Age Next Birthday of Members.
- Age of life assured(18-65years)
- Sum assured
- Policy term
- Frequency (Monthly, Annual or Single)
- Health and underwriting assessment (Depending on the sum assured)
Get Term Assurance Plan Now!
Call
0700 700 0400
Send email
info@chilife.ng
Corporate Head Office
Plot 33D Bishop Aboyade Cole Street, Victoria Island, Lagos
