LIFE INSURANCE WITH ADDITIONAL BENEFITS
Pitsas Insurances provides life Insurance policies with the following additional benefits:
- Waiver of Premium
- Supplementary Premium Protection
- Additional Term Insurance
- Permanent Total Disability
- Monthly compensation due to Permanent Total Disability
- Maximum Critical Illness Benefit
- Accidental Death
Waiver of Premium
People aged between 20 and 55 are insured and coverage is provided until the insured reaches the age of 65. Benefits are paid until the policy expires or until the disability ceases or until the anniversary following the insured’s 65th birthday. It is activated in case of permanent and total disability that lasts more than 6 months.
Supplementary Premium Protection
Waiver of premium until the expiry of the supplementary benefit. The policyholder’s health is assessed. It covers the policyholder in case of death or permanent total disability. People aged between 20 and 55 are insured and coverage is provided until the insured reaches the age of 65.
Additional Term Insurance
Additional insurance coverage of the insured in case of death. People aged between 18 and 65 are insured and coverage is provided until the insured reaches the age of 75. The duration is 5, 10, 15, 20, 25 years. It is being offered with the basic Life insurance policies except Term and without maximum coverage.
Permanent Total Disability
Permanent Total Disability is the complete inability of the insured to work in any business or profession and to carry out for a salary or profit any occupation for which he is suited given his education, skills or experience. Permanent Total Disability is also the total and irreparable loss of vision in both eyes. Moreover, Permanent Total Disability is the loss of both arms above the wrist or both legs above the ankle or one arm above the wrist and one leg above the ankle.
People aged between 18 and 60 are insured and coverage is provided until the insured reaches the age of 65. The maximum cumulative amount of cover: €307.545 (18-49), €153.770 (50-60). The first installment (50%) is paid 6 months after the beginning of the disability and the second installment (50%), 18 months after the beginning of disability.
Monthly Compensation due to Permanent Total Disability
People aged between 20 and 59 are insured. The company pays a monthly allowance until the policy’s expiry date or until the insured dies, whichever comes first. The minimum duration is 5 years and coverage is provided until the insured reaches the age of 60 or 65. The minimum monthly allowance is €170 and the maximum monthly allowance is €1.025.
Maximum Critical Illness Benefit
People aged between 20 and 64 are insured and coverage is provided until the insured reaches the age of 65. The amount of coverage is equal to the main capital payable on death with a maximum of €100.000. The amount of cover is paid to the insured provided he is alive 30 days after the date of the diagnosis or of the surgery. The waiting period is 3 months from the policy’s effective date or its reinstatement.
Critical illnesses are cancer, heart attack, coronary heart disease, stroke, kidney failure, human organ’s transplant, blindness due to disease.
Accidental Death
People aged between 10 and 60 are insured and coverage is provided until the insured reaches the age of 65. In case of the insured’s accidental death, the company pays the insured capital. The benefit is paid provided the loss of life occurred within 90 days from the day of the accident. The amount of cover is ≤ three times the basic capital payable on death, with €170.000 being the maximum.
Pitsas Insurances,
Pafos, Cyprus
December 17th, 2019