This list contains an overview of the different Benefits that make up LifePlan.
1. Life Benefits:
- Primary Life Cover: a Benefit that pays out when the relevant Life Assured dies.
- Term Life Cover: a Benefit that pays out if the relevant Life Assured dies during a specified period of time as detailed on your Plan Schedule.
- Terminal Illness Benefit: some life Benefits can be claimed if the relevant Life Assured is diagnosed as terminally ill (subject to conditions and exclusions).
- Accidental Death Benefit: a Benefit that pays out if the relevant Life Assured dies in an Accident.
2. Life Cover:
This applies to you if any of the following Benefits are detailed on your Plan Schedule:
• Primary Life Cover
• Term Life Cover
When RL360 will pay a claim -
They will pay a claim if the Life Assured dies during the Term of the Cover.
How much they will pay -
They will pay whichever of the following amounts is the greatest:
a) the amount detailed on your Plan Schedule; or
b) your Plan Value.
If your Plan Schedule includes Term Life Cover, they will pay, in addition to any other amount payable under condition B1 mentioned above, the amount detailed on your Plan Schedule if the claim is made within the Term of the Cover detailed on your Plan Schedule.
3. Terminal Illness Benefit:
This applies to you if any of the following Benefits are detailed on your Plan Schedule:
• Primary Life Cover
• Term Life Cover
When they pay a claim -
RL360 pay a claim if the Life Assured is diagnosed with a Terminal Illness during the Term of the Cover subject to a few sub-conditions.
How much RL360 pay -
They pay whichever of the following amounts is the greatest:
a) the amount detailed on your Plan Schedule; or
b) your Plan Value.
4. Accidental Death Benefit:
If your Plan Schedule includes Accidental Death Benefit, RL360 will pay, in addition to any other amount payable, the amount detailed on your Plan Schedule if the claim is made within the Term of the Cover detailed on your Plan Schedule.
When they will pay a claim -
RL360 will pay a claim if the Life Assured dies wholly and exclusively as the result of an Accident within 90 days of that Accident occurring.
How much they will pay -
RL360 will pay the amount detailed on your Plan Schedule.
5. Repatriation Benefit:
A service that provides the relevant Life Assured’s Beneficiaries with an advance on the Primary Life Cover to assist in transporting the body of the deceased Life Assured to their Home Country. This applies to you if Repatriation Benefit is detailed on your Plan Schedule.
6. Other:
Guaranteed Insurability Option is a feature that allows you to increase your Cover when certain life events happen.