This is a life insurance designed to provide financial stability and security for those you love if you can not be with them. The insurance product offers risk protection at a very low price and guarantees payment of the sum insured in the event of death of the insured person.
The customer can choose between Term Life Insurance with decreasing sum insured and Term Life Insurance with constant sum insured.
Term Life Insurance with a decreasing sum insured
Term Life Insurance with a decreasing sum insured is designed to insure borrower’s life. In case of death of the borrower decreasing sum insured is increased by 10% throughout the insurance period which provides additional protection of the insured person and his family.
Term Life Insurance with a decreasing sum insured allows premium to be paid by single or by deferred instalments. If a deferred payment is chosen, the insured person pays insurance premiums only in the first half of the insurance period as insurance cover remains in force throughout the whole insurance period.
Term Life Insurance with constant sum insured
Term Life Insurance with constant sum insured is designed for clients who prefer to be insured with a constant sum insured throughout the insurance period.
The product offers the following covers:
• Death of the insured person during the insurance period – payment of the full sum insured to the beneficiaries specified in the contract
LIC “Saglasie” EAD provides its customers the option for additional protection to Term Life Insurance with constant sum insured:
Additional Insurance „Accident”
Additional Insurance „Critical illness”
The guaranteed sum insured is determined by age, premium and insurance period of the contract. Payment of the insurance premium depends on the client’s preferences: single or deferred to to annual, half-yearly, quarterly and monthly installments.
Minimum age for the conclusion of insurance contract is 14 years and the maximum age is 65 years as the insurance person can not be older than 75 years at expiry. Insurance can be individual (for one person).
The currency in which it can be concluded is BGN or EUR.
