Evolutive Life Insurance

Evolutive life insurance is an individual life insurance, suitable for all people who want to offer financial security to their family members. Evolutive Life Insurance is one of the simplest life insurance products on the market today.

What is this insurance?

This product is a pure life insurance, which provides financial protection to the descendants of the insured if he loses his life during the insurance period. Upon the loss of life of the insured, the insurance beneficiaries immediately benefit the sum insured stated in the policy.

This policy covers the risk of loss of life of the insured in three stages:

1. In the first year, loss of life as a result of accidents is covered.
2. In the second year, loss of life as a result of accidents and sudden diseases is covered.
3. After the second year of insurance, loss of life from any cause is insured.

What is the duration of the policy?

The insurance policy lasts until the insured reaches an age of 70, provided the insurance premium is paid regularly according to the specified deadlines.

What new features does this product bring?

• Age 18-70 is insured.
• The insurance amount is up to 100,00 EUR
• No medical examinations are required regardless of age or insurance amount.
• Quick and easy insurance procedure.
• Flexibility in premium payment.
• There are no penalties for terminating the policy before its maturity.
• Available in Lek, Eur, and Dollars.

Method of premium payment

The insurance policy is offered with fixed annual installments (for example for 10, 20, or 25 years, or for the entire duration of policy).

After the fixed period the premium is calculated annually at normal insurance rates. The more years pass. The faster the premium increases compared to the previous years due to the increase in age. Therefore as long as it is financially possible by the insured, a policy with equal annual installments for the entire duration of the policy is suggested. In this way, the individual has a fixed cost each year for the life insurance policy and does not have to worry in the future about its price change.

Example:

A 35 year old male decides to buy a life insurance policy with a sum assured of 10,000,000 Lek for 20
years.

• Annual premium (for 20 years) is 38,000 Lek/year.

At the end of the 20 year period (the individual is now 55 years old); he can exercise his right to continue the insurance policy until he turns 70 years old. The premiums for this period will be calculated every year, as a multiplication of the insurance amount with the mortality rate.

Why do we suggest it?

This product is suitable for setting up a life insurance scheme for your employees. SiCRED consultants will give you the necessary assistance to analyze your situation and set up a scheme based on your specific needs and financial possibilities.
Contact now to get a quote!