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TERM ASSURANCES
Designed to meet the needs of individuals and families, our Term assurance policies provide cover against death within a specified period. The cover is pure protection and will pay out only if the Life Assured dies during the Term of the policy. If the Life Assured survives the term, no payment is made and the policy expires.
Moreover Albatross offers you extra security with the Total & Permanent Disability Option.

And what have you got for me.
We understand that there are various types of term assurances on the market which may be confusing to you. This is why our financial advisers will be pleased to guide you through all the process of satisfying your needs.
Albatross Insurance company is pleased to offer you the following :

Level Term Assurance
This is the simplest form of term assurance. This contract provides that Albatross will pay the sum assured only if the life assured dies during the term of the policy, i.e. before the expiry date. The sum assured does not vary during the term of the policy and once it has expired the policy has no value.
Points to note :
• A Level Premium is payable monthly.
• There is no surrender value available on early termination.
• It is frequently used to provide protection for the family of a breadwinner.
• It can also be used as a security for Housing Loans.

Decreasing Term Assurance
The sum assured will decrease as required during the term of the policy. This policy is mostly taken to cover a loan where the capital is reimbursed by instalments over a certain period. In case of death, only the outstanding balance of the loan due will be paid..
Points to note :
• Normally used to cover a reducing debt e.g. housing loan
• Premium payable for a shorter period.

Whole Life Policy
This is a permanent policy that pays out a sum assured whenever the Life Assured dies. The policy may participate in the company’s profits.
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