Life insurance is a contract that pledges payment of an amount to the person assured (or his nominee) on the happening of the event insured against.
A contract of insurance is a contract of utmost good faith technically known as uberrima fides.
Savings through life insurance guarantee full protection against risk of death of the saver.
It allows long-term savings payments can be made effortlessly because of the 'easy installment' facility built into scheme.
This is available for amounts paid by way of premium for life insurance subject to income tax rates in force.
Among other things, the contract also provides for the payment of premium periodically to the Corporation by the policyholder. Life insurance is universally acknowledged to be an institution, which eliminates 'risk', substituting certainty for uncertainty and comes to the timely aid of the family in the unfortunate event of death of the breadwinner.
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Our life insurance is flexible
Any person who has attained majority and is eligible to enter into a valid contract can insure himself/herself and those in whom he/she has insurable interest. Policies can also be taken, subject to certain conditions, on the life of one's spouse or children. While underwriting proposals, certain factors such as the policyholder’s state of health, the proponent's income and other relevant factors are considered by the Corporation.
Provides coverage for a specific period (term), such as 10, 20, or 30 years.
Provides lifetime coverage with a savings component that builds cash value.
A permanent life insurance with flexible premiums and adjustable death benefits.
Permanent life insurance with a cash value component invested in various sub-accounts.