It provides a global amount to be paid to the beneficiary designated by the insured employee in case of his/her death. The insurance works 24 hours/day, everywhere in the world. The only exclusion specified in the contract is suicide and death caused by AIDS (in the first year when the insurance policy is in force), without any kind of previous condition.
In addition, you can add as an option the insurance against permanent tot al invalidity (by any cause). This clause provides the payment of the face amount in case of body injuries, from any cause that do not allow the employee to perform any activity that could provide him/her with a living.
Each employee may offer the benefits of the life insurance policy as guarantee for obtaining loans from various banks.
The accident and health coverage which is part of the contract may include:
It provides the amount payment in case of death by accident. The payment in the event of death will be made to the beneficiary designated by the insured person.
It provides the amount payment when the body injuries resulted from of an accident do not allow the insured to perform any activity that could provide him/her with a living. The payment is made as a lump sum.
It provides the amount payment when the body injuries resulted from of an accident cause partial disability of the employee to work. The payment is made as a lump sum, being a percentage of the amount established in the benefits table.
This benefit targets the insured individuals who are hospitalized for treatment as a result of an accident or sickness which is part of the object of insurance. The payment is made as an allowance for the days spent in hospital. A certain number of days, specified in the policy, is applied as a preliminary period, after which the allowance becomes payable. The allowance can be paid for a maximum period of 365 days.
This benefit targets the insured individual when he/she undergoes a surgery as a result of an accident or sickness which is part of the object of insurance. The allowance in this case is a certain percentage from the face amount, specified for the particular case, depending on how serious the procedures are. The allowance is paid as a lump sum.
It provides the payment of a certain amount in case the insured person is the victim of a fracture or burn. The allowance is paid as a percentage of the face amount, depending on the seriousness of the fracture or the burn.
Each employer can establish the eligibility criteria, depending on the adopted strategy.
Each of the employees part of this plan can contribute with additional amounts, the payment frequency being the same as for the premiums paid by the company.
Generally, the age is 65, but the employer has the possibility to establish a different age for retirement. When changing the employer, each employee will receive part of the individual fund accrued from the company contributions, in a reimbursement graphic established by the employer.
The pension plan may be projected on various periods of time, for minimum 5 years.
At the moment of retirement, each insured person is due to receive an amount equal to the balance of his/her retirement account. That individual may opt for:
Alico guarantees the integrality of the contributions made to the pension plan for its entire duration, as well as a transparent method of calculation for the accrued interest.