Individual Life Insurance
Protecting those who matter the most to you.
Life insurance plays an important role in ensuring that your loved ones are protected when you are no longer around to provide for them. Maritime Life has been protecting loved ones for over 50 years and has become synonymous with being there for your family when you need us the most.
Our life policies are reinsured with some of the largest reinsurers in the world, providing you with an additional peace of mind.
We know that purchasing life insurance can be a daunting task but we’re here to make it easier for you. Below we have provided the major types of plans that you can purchase.
Each plan was designed to meet a certain need and we advise consulting with one of our qualified Financial Advisors, who will guide you throughout the process:
How it works• You select an amount in keeping with your present needs
• Pay an initial premium
• Do the necessary medicals
• Your premium never increases
• In early years, your contribution is greater than the cost of coverage and conversely, it is much smaller in the later years. So, in the early years a reserve is created, off-setting the growing cost in later years.
What happens if you quit• Surrender policy for cash
• Automatic premium loan
• The cash surrender value may be used as a single premium to purchase reduced coverage on a permanent policy
• The same may be done to purchase a term policy equal to the original amount but for a shorter period
If you become disabled• Should you opt for the benefit, Maritime will undertake to pay the premium on your behalf until you recover
If you become critically ill• Should you opt for the benefit, you will receive a lump sum (or part thereof) to take care of any of these illnesses:
o Heart Attack
o Coronary Heart Disease
o Terminal Illness
o Major Burns
o Renal Failure
o Heart Valve Replacement
o Multiple Sclerosis
• Peace of mind that you could afford the best medical treatment money can buy
Life Benefits• Provides peace of mind that your family will be protected if you unexpectedly die
• Provides funds for both spouses in retirement years
• Provides sources of cash for emergencies and opportunities
• Sinking funds for your home
• Acts as collateral for your debts and loans
• Helps preserve your estate for your heirs
Death Benefits• Guarantees income for loved ones
• Provides funds that can be used to cover funeral bills, medical bills, etc.
• Provides funds that can be used to wipe off debts and loans such as a mortgage
• Provides funds that can be used to cover probate, legal and executor fees