Level Term Life Insurance
We offer full level term life insurance leveled of 1, 5, 10, 15, 20, and 30 years, in which the amount of insurance and premiums remain the same throughout the coverage period. An important benefit of term insurance is that it includes the privilege of automatic renewal for the same period of the original contract without submitting medical evidence at the time of renewal.
It also includes the conversion privilege, which allows you to change your term insurance policy to any accumulated value policy offered by Triple-S Vida before 75 years of age, without submitting evidence of sustained insurability.
The premiums you will pay upon using either of these two privileges are those established upon your age at the moment of exercising any of these options
Optional Supplements to Term Life Insurance
Premium Payment Waiver Due to Disability
If you become totally disabled (as defined) for a period of six months or more, we will waive the payment of premiums due while such total disability continues. If such disability is the result of dismemberment, as defined in the supplement, you are eligible to the benefit when the loss occurs.
Death by Accidental Means
We will pay a death benefit equal to the benefit payable under the policy if death occurs as a result of physical injuries incurred by accidental means.
Coverage for Additional Insured
With this cover you can insure others, including business partners, spouses, and children over 18 years of age. The maximum coverage for these additional insured shall not exceed the main insured. This benefit has conversion privilege, as described in the basic policy.
Benefit for Involuntary Loss of Employment
If you lose your job as a result of a unilateral decision of the employer, this benefit pays the purchased amount up to $1,000 for up to six consecutive months during the same unemployment period. Job loss should occur 60 days after the start of this supplement. To qualify for this benefit, you must have been a regular employee 30 hours a week, and have been employed by that employer for at least 12 months.
Coverage for Children
It covers all your eligible children up to 24 years of age. This coverage also has the conversion privilege to permanent cover.
Disability Income Protection Coverage
It provides a set amount of monthly income during the period of total and permanent disability up to 65 years of age. This benefit applies to the policyholder.
Return of Premium Supplement
This benefit is available for our level term products for 20 and 30 years. It returns 100% of premiums paid, including supplements, if you are alive when the term expires. If a cancellation occurs before the policy term, the percentage of the premium is reimbursed as shown in the table included in the insurance contract.
