Mutual Benefits Life Assurance Ltd.
Aret Adams House, 233 Ikorodu Road, Ilupeju - Lagos
The grief of losing a loved one can be devastating but having a MUTUAL Term Assurance helps to cushion the effect of the anguish on your loved ones by securing their financial future.
MUTUAL TERM ASSURANCE
1. HOW DO I DETERMINE THE SUM ASSURED?
The sum assured is determined by the assured.
2. HOW MUCH WILL BE THE PREMIUM PAYABLE?
The applicable premium payable is determined by the age of the assured and the sum assured at entry.
3. CAN I CHOOSE PAYMENT FREQUENCIES OTHER THAN ANNUAL?
Yes, you could make a single premium payment.
4. IS THERE ANY AGE RESTRICTION?
The minimum entry age is 18 years while the terminal age is 65 years.
5. CAN THE POLICY BE EXTENDED TO COVER RISKS, OTHER THAN DEMISE?
Yes, the policy can be extended to cover permanent disability, critical illness and medical expenses.
6. DOES THE POLICY QUALIFY FOR TAX DEDUCTIBLE?
Yes, premium paid are tax deductible.
7. WILL I BE REQUIRED TO UNDERGO MEDICAL EXAMINATION?
Yes, if the sum assured exceeds our free medical cover limit.
8. AM I ENTITLED TO ANY BENEFIT IF I TERMINATE THE POLICY OR SURVIVE THE PERIOD?
No, you are not entitled to any benefit if you terminate or survive the period of cover.
9. WHAT HAPPENS TO THE POLICY IN THE EVENT OF MY DEMISE?
At demise, the policy terminates automatically and the sum assured becomes payable to the named nominee/beneficiary (ies).
10. HOW CAN MY BENEFICIARIES MAKE CLAIM?
In the event of demise, the beneficiary or legal representative should notify us through any of the following channels:
The originals of the following substantial document will also be required for sighting:
11. WHAT ARE THE CHANNELS AVAILABLE FOR PREMIUM PAYMENT?
The following channels are available for payment of your premium:
Please refer to the policy document for more information