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Multisure Income Plan Policy

Overview

When confronted with the possibility of loss of income, high medical and burial costs can be a burden better left to Madison Insurance. This policy is designed to guard against loss of income in case of accidental death, disability and sickness. This is an annual cover at very low premium rates.

Upon death of the insured there is loss of income to meet future family and business obligations. Incase of hospitalization, there is also loss of income besides paying medical expenses. The burial cost is heavy to bear for many families. When confronted with the possibilities of loss of income, high medical and burial costs, there is no way out but take Madison’s Multi-sure income plan. This flexible policy is available for adults and dependents both parents & business people.

Features

  • Any individual aged between 18 and 70 years can be covered
  • The plan has been designed to accommodate individuals of both immediate and extended families
  • The insured is free to nominate who will be the beneficiaries and what will be their terms
  • The policy is renewable on an annual basis
  • The plan allows the insured various packages of choice. The premium is payable monthly, quarterly, semi-annually and annually, through direct salary deductions, bankers, direct debits or cash payment.
  • The policy allows a grace period of 30 days within which the policy remains in force with full benefits
  • The company has allowed the insured to access treatment in any legally licensed facility in the country

Benefits

  • Accidental Death: The policy pays the named beneficiary the sum assured if the insured dies as a result of accidental injuries
  • Permanent Total Disability: If the insured becomes permanent and totally disabled as a result of accident that he/she can no longer engage in any occupation, the policy will pay the sum assured.
  • Dismemberment: If as a result of an accident the insured looses any of the limbs, the policy will pay the sum as stated in the continental scale of benefits
  • Accident Medical Expenses: The policy will pay for medical expenses incurred as a result of an accident as long as the treatment is undertaken in a legally registered hospital
  • Accidental Disability Income: Upon confinement in hospital as a result of an accident, the policy will pay the weekly benefit for a maximum of 104 weeks or up to attainment of age 70 years whichever comes first
  • Sickness In-Hospital Income: Upon confinement in hospital as a result  a sickness that manifested itself after 90 days of the policy commencement date  , the policy will pay the weekly benefits for a maximum of 104 weeks or attainment of age 65 whichever comes first
  • Last Expense: The policy will pay for burial expenses up to the limit of the cover if the insured dies as a result of an accident. The payment will be made within 36 working hours after all necessary documents are presented to the company.
  • Dental Benefit: The policy will pay for dental surgery to natural teeth as occasioned by accidental injury up to the limit of cover under this benefit.
  • Optical Benefit: If as a result of accident, the insured is required to use spectacles on the recommendations of an authorized medical practitioner, the policy will pay for the purchase of a new set up to the limit under this benefit
  • Post Confinement Benefit: In the event of the insured requires medical review and or follow up after hospitalization as a result of accident due to same or related causes, the policy will pay for such treatment up to the limit stated in the benefit.
  • Post Accidental Plastic Surgery Benefit: The policy will pay for post accident skin corrective surgery arising from accidental injuries up to the limit of cover under this benefit.
  • Waiver of Premium: The company will waive the outstanding premiums up to the expiry of the policy term upon accidental death or permanent total disability or loss of any two limbs of the primary insured.
  • Double Benefit Clause: This benefit provides for an additional payment up to 10% of the capital sum assure dint he event the primary insured is declared permanent total disabled after enjoying the accidental disability income

FAQs

a. Is there a waiting period for accidents?

            There is no waiting period for claims that are accident related.

b. Can I cover the whole family under this policy?

The whole family can be catered for under this policy. Therefore, parents and children can be covered for unforeseen accidental risks

c. Can I pay monthly premiums for this policy?

Yes, you can pay monthly premiums where there is a check-off arrangements or an effected standing order with the bank.

d. What happens when the bread winner is no longer there to pay premiums?

The policy has a waiver of premium benefit, meaning that the policy benefits can still be enjoyed by the rest of the family even if the  premiums are not being remitted as long as the policy had been paid up to date at the time of the bread winner’s death

How do I get Started

To initialize this Superb Plan you need

  • To complete the provided proposal form
  • Payment in cash or cheque for annual and semi-annual premium or monthly payment where subsequent payments will be made through check-off system or bankers order/direct debit
  
 
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