You have asked yourself: How will your family cover the final expenses and debts of your death?
You should make sure you get enough insurance coverage to cover the financial impact of your unexpected or premature death for your family.
There are two basic types of life insurance: term insurance ("term insurance") and cash value insurance ("cash value insurance"). Term insurance generally entails the payment of the lowest premium during the first years, but without increasing the cash values, which may be used in the future. On the other hand, insurance for cash value can be one of several types: whole life, universal life, and variable life. Your choice will depend on your current needs, what you will have in the future and what you can reasonably afford.
Your insurance agent can help you evaluate your life insurance needs and give you information about the products available from RICL
Term Life Insurance for the international market
ESSENTIAL TERM has been elaborated to offer you a life product of Level Term of Simplified Evaluation, without laboratory tests, or medical exams, which allows an easy decision in the analysis of the insurability of the client.
While other insurers offer only insurance plans with high limits, this plan offers affordable limits that meet the needs of a traditional sector, eager to obtain a fair and eventually financial security.
ESSENTIAL TERM has three term policy plans:
- Fifteen (15) years
- Twenty (20) years
- Thirty (30) years
ESSENTIAL TERM is your alternative:
- Easy to acquire, just fill out a short application.
- No hassles No medical examination, no laboratories.
- Accessible coverage with guaranteed premiums.
- Why ESSENTIAL TERM?
For the first time, an affordable product has been created for an insurance market sector that had not been previously achieved.
Essential Term helps you meet the financial needs of your family, your business or your partner, so imperious at the moment that a fatal and unforeseen event usurps your life. This plan offers the designation of beneficiaries, covering those dependents resigned for the loss and killed by economic concerns. Among others, this plan offers essential coverage for financial commitments such as:
- Debt free family
- Replace your participation in a Shared Business
- Ensures the life of your "Key Employee" and / or "Partner"
- Bank guarantee - Conditional designation
20 years (age reached on the effective date of the policy)
65 years (term of 15 and 20 years)
55 years (term to 30 years)
The Sum Insured payable upon the death of the insured.
Limits: $ 25,000 to $ 150,000 leveled (In units of multiples of 25)
Smoker / Non-Smoker
Terms leveled to 15, 20 and 30 years.
(According to insurability and as long as the premium payment is made).
Any death that occurs during the first two (2) years of the policy, the benefits will not be payable, except when the death occurs as a result of an accident. The responsibility of the Company, will be limited to the return of the total of premiums paid.
Monthly, Quarterly, Semi-Annual and Annual.
(Automatic Discount of Available Funds)
Opportunities to Design the Policy
The plan allows you the option of acquiring additional benefits, such as accidental death and dismemberment, traveler assistance and funeral assistance.
- Accidental Death and Dismemberment: Eligible up to 55 years of age. The endorsement offers additional compensation to the basic coverage in case of accidental death or dismemberment. The amount may be equal to or less than basic coverage, but the sum of both must not exceed the US $ 250,0000 limit. Coverage ends at 65 years old.
- Travel Assistance: The endorsement provides annual coverage of multiple trips of up to 60 days per trip, outside the country of residence. The benefit includes medical stabilization in an emergency, and other traveler services, up to a maximum of US $ 10,000. The amount is reduced to US $ 5,000 after 75 years.
- Funeral Assistance: This benefit consists in the coordination of funeral services, up to a maximum of US $ 2,500
Benefits Plan for Final Expenses
We are proud to present RIC's Final Expenses Benefit Plan, Infinity Plus, an exclusive insurance that gives you the serenity and tranquility of knowing that your loved ones will be protected from stress and possible unforeseen economic burden caused by expenses. final in case of his death.
According to the US Federal Trade Commission. (FTC, for its acronym in English), the traditional funeral, including the coffin and grave, could cost today approximately 6,000 US dollars. And if additional expenses are added, such as funeral announcements, flowers and transportation, the final cost could reach $ 10,000.
The Infinity Plus Final Expenses Plan is an exclusive type of insurance coverage that provides serenity and peace of mind.
In addition to paying funeral and funeral expenses, Infinity Plus is used to pay medical expenses and other debts that have not been paid after your death. The purchase of the Infinity Plus Final Expenses Plan can offer you the following additional benefits:
You can use it to make a charitable donation to someone important to you.
It provides the means and capacity so that your loved ones can pay any remaining expense or outstanding debt. You could also make legacies.
You can use it to leave money to your grandchildren or other members of your family.
The product is easy to order and buy. You just need to fill out a short questionnaire and it does not require a MEDICAL EXAMINATION.
You can pay it in five, ten years, or during your life.
Simplified Issuance Plan: Simplified Issuance plans only require a limited Risk subscription. No medical exams are required; however, the applicant must qualify by answering some medical questions. Seven in total
Subscription class: The premium rates have been determined separately for men and women. There are no distinctions between the smoker and non-smoker classes
Issue age: The product is offered for ages of issue from 20 to 85, based on the age of the last birthday.
Benefits: The benefits remain level during the life of the policy with the following exceptions:
- For ages of issue from 40 to 64, benefits are not payable during the first 3 years policy, except when death is the result of accidental causes, these are limited to refund of premiums, paid without interest; and
- For ages of issue 65 to 85, benefits are not payable during the first 2 years policy, except when death is the result of accidental causes, these are limited to refund of premiums, paid without interest.
The total death benefit will be paid, if this was the result of accidental causes during the applicable period of 2 or 3 years of limited benefits.
Duration: Lifetime coverage for the insured.
Nominal Value Specified: The coverage is available in the following amounts: 10,000, 15,000, 20,000 and 25,000 US dollars.
However, they are not classified by groups according to their nominal value, that is, the premium rates per 1000 are the same for each nominal value.
Minimum and Maximum Nominal Value: The minimum nominal value is US $ 10,000. The maximum nominal value is 25,000 US dollars.
Payment Options: The Plan can be issued with scheduled payments for 5 years, 10 years or for the duration of the policy. Level premia in each payment option.
Billing Mode: The billing modes for this product are: Monthly, Quarterly, Half-yearly and Annual
Opportunities to Design the Policy
Accidental Death (eligible up to 55 years).
It offers coverage in case of Accidental Death in addition to the basic benefit of the policy.
Coverage is offered for the same amount of the death benefit up to a maximum of $ 300,000 (US).
Accelerated Payment of Benefit (eligible 20 to 65 years)
This Admitment offers benefits up to 50% of the nominal value of the policy in advance provided a reliable evidence of Terminal Illness is presented.
It helps alleviate financial worries during the illness of the Principal Insured.
Relief of Disability Premium Payment (eligible 20-55 years). It offers protection in case of Total and Permanent Disability paying the Premium Payment in the Temporary Life contracts.
Relief of Cost of Disability Insurance (eligible 20-55 years). It offers protection in case of Total & Permanent Disability by paying the Pure Cost of insurance in Universal Life contracts
RICL Life offers Group Insurance:
The minimum age for entry is 20 years old at the time insurance coverage is offered.
The maximum age is 60 years old.
Insurance protection reduces by 35% at the age of 65 and ends on reaching 70 years of age.
Structure of Group Life Insurance
It is mainly established in three (3) ways:
Maximum amount of Equal Life Insurance for each eligible member
Maximum amount of Life Insurance is calculated based on a fixed multiple of the Annual Salary
Classification of eligible members by Occupation and / or Rank
Medical Risk vs. Non-Medical Risk is determined based on:
The number of Eligible Members
The amount of insurance requested
The percentage of participation of the Eligible Members who decide to avail themselves of the insurance cover offered
|Total of Elegible Members||Participation Requirement|
|50 – 99||100%|
|100 – 500||90%|
|501 or More||75%|
Maximum amount of Non-Medical Life Insurance:
|Number of elegible members||Non-Elegible limit|
|50 – 99||$10,000|
|100 – 199||$15,000|
|200 – 299||$20,000|
|300 – 399||$25,000|
|400 – 499||$30,000|
|500 – 699||$35,000|
Information required to evaluate a group plan:
Census of the participants = date of birth, sex, occupation and annual income *
(* If the benefit is based on salary)
Exact location and years of established company
Description of duties and commercial activities of the Company
Amount of benefit required (leveled, by salary or by class)
Premium payment 100% responsibility of the Employer
Method of payment of premium: Semiannual or Annual in U.S.A. ($) dollars
If the group has Life Insurance in force, it is required:
Copy of the current policy
History of the experience developed with the other insurer:
Premiums Paid vs. Claims Incurred for the last 3 years (with any other insurer)
NO Acceptable Risks:
Groups with less than 100 Eligible Members
Companies with less than 3 years established
Associations or non-profit groups
Clubs or Civic Organizations
Groups for Sports Activities
Police or Military
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