Pafos Insurance Products
GENERAL INFORMATION:
The premium for these plans is not invested but is allocated solely for the insurance cover of the individual’s life. The capital of the Term Assurance Policy is only paid on the death of the life assured during the term of the Policy. A plan of this nature is offered either as a stand alone policy or as a rider to other Basic Plans and since it has no investment cover and, consequently no surrender value, it cannot be converted into a Paid Up policy. The purpose of these plans is the provision of insurance cover for the loss of life for a predefined duration of time. These plans cover all war risks other than those associated with military flights. In the event of the life assured committing suicide within the first 12 months from the inception of the Policy or its reinstatement, the Company’s liability is limited to the interest free return of the premiums paid for the basic life policy. Term assurances can be offered either as Convertible or Non Convertible.
SIMPLE CONVERTIBLE TERM ASSURANCE
NON CONVERTIBLE TERM ASSURANCE
REDUCING CAPITAL TERM ASSURANCE
of the Policy.
