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
US $ 25,000 to $5,000,000
ESSENTIAL TERM has been elaborated to offer you a Life Level Term Life Insurance product, of Simplified Evaluation, without laboratory tests or medical exams, which allows a fast analysis of the Applicant’s insurability.
While other insurer’s only offer insurance plans with higher limits, this plan offers achievable limits that meet the needs of a traditional sector, eager to obtain an adequate plan to ensure the financial stability of their family, partner, or business.
- Family Free of Debts
- Participation in a Joint Venture
- Secure the loss of a Key Employee or Business Partner
- Bank guarantee – Conditional Assignment
- Guarantees your Children’s Education
ESSENTIAL TERM has four (4) term policy plans:
- Ten (10) years
- Fifteen (15) years
- Twenty (20) years
- Thirty (30) years
ESSENTIAL TERM is your best Alternative:
- Easy to acquire, just fill a Declaration form.
- Accessible coverage and rates.
- No hassle, no medical exam or laboratories up to $300,000.
- Medical requirements apply for persons 65 years and older, and for limits exceeding $300,000
- Limits in excess of $500,000 - on a facultative basis
18 years attained age on the effective date of policy
64 years (10, 15 and 20 years plans)
54 years (30 years plan)
Amount of Insurance payable upon the death of the insured
Limits from: US $25,000 to $5,000,000 (in multiples of 25,000)
Female / Male
Smoker / Non-Smoker
Level Terms 10, 15, 20 and 30 years.
(Subject to payment of premiums)
Quarterly, Semiannual and Annual (Surcharge applies for fractional payments).
Monthly payments are only available in annual premiums of $500 or more, by recurring charges by Credit Card or Bank Debit.
Opportunities to purchase additional benefits
The plan allows you the option to purchase additional benefits, such as Accidental Death & Dismemberment, Travel Assistance and Funeral & Repatriation Assistance Services
Accidental Death & Dismemberment. Eligible from 18 to 64 years attained age. This benefits offers additional indemnity in the event of an accidental death. The amount of this benefit may be equal or less that the life insurance amount, not exceeding $5,000,000. Coverage ends at the attained age of 70 years.
- Travel Assistance. This benefit provides $10,000 in services for emergency events occurring during a trip abroad, not exceeding 60 days per trip. Includes medical and hospital services for the stabilization of a medical emergency, and other services for unexpected events occurring during your trip. Limit is reduced automatically at the attained age of 75 years old.
- Funeral & Repatriation Assistance Services. This benefits offers $3,500 and the coordination of the funeral & repatriation services by the Company.
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 20 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: $5,000, $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 $5,000. The maximum nominal value is $25,000 US dollars.
Payment Options: The Plan can be issued with scheduled payments for the duration of the policy.
Billing Mode: The billing modes for this product are: Monthly, Quarterly, Half-yearly and Annual
Opportunities to Design the Policy
The plan allows you the option of acquiring additional benefits, such as traveler assistance and funeral assistance.
- 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
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