TERM LIFE INSURANCE
In a Term Life Assurance policy, the sum assured (the principal amount of the policy) is payable if the life assured dies within the duration of the policy. The policy duration is for a specified length of time, usually a short period of time. The period of cover for the life assured is restricted to the duration of the policy and no sum assured is paid if the assured did not die within the policy period. There is no investment element in term life assurance.
Term life assurances can be for an individual or a group of individuals and may either cover life assurance benefits or health benefits or both.
Term assurance policies may be used as collateral security for loan transactions and also life protection and offer significant advantages over other life assurance policies, including their substantially lower costs, the freedom to select the length of the coverage and the ability to secure only the level of coverage necessary to meet specific needs and time-sensitive obligations.
ENGINEERING CLASS OF BUSINESS
Activa presents the best and widest range of engineering insurances.
LIFE & MEDICAL INSURANCE
Life assurance policies are the various policies of insurance that may be used for the purpose of
life protection, investment or a combination of both and in respect of which the subject matter
of the contract relates to human duration of life.
This is a Comprehensive policy that covers accidental damage, fire and burglary to the insured Items. Losses from every risk is covered except those specifically excluded.