Return of Premium Life Insurance
Both an insurance and an investment
MAPFRE Life Insurance with Premium Refund is a “cumulative life insurance” option providing coverage against any death risks, and issued for at least 12 years. In case the risk occurs, the death benefit will be paid; if it does not, the insured will be entitled to “premium refund” (collecting the paid insurance premiums back). The insured would thus be “refunded for premiums”. The premiums are set with reference to age and coverage, starting with the lowest insurance premium figure, increasing as one gets older. Anyone in the 18-58 age group can make use of this insurance providing the option for refund of premiums. The insurance policy and the premium can be set in Turkish Liras, US Dollars, or Euros. Premium payments can be made on a monthly, quarterly, biannual or annual basis, by credit card or bank transfer orders.
*Life Insurance with Premium Refund is offered by MAPFRE Yaşam Sigorta A.Ş.
Specifications
- Issued for at least 12 years,
- Provides coverage against all kinds of death risks, on the basis of the General Terms and Conditions of Life Insurances;
- Death benefit is paid in case of risk occurrence; if not, the bonuses paid will be returned to the policy holder.
- The premium figures are set with reference to age and coverage;
- The premium figures increase through age;
- Anyone in the 18-58 age group can get coverage under this insurance. The term of the insurance plus the insured’s age cannot exceed 70, however.
- The insurance policy can be executed in Turkish Liras, US Dollars, or Euros.
- Premium payments can be made on a monthly, quarterly, biannual or annual basis, by credit card or bank transfer orders.