Stanbic IBTC Term Assurance
Stanbic IBTC Term Life Assurance helps to provide cover against death within a specified period and agreed terms. It is purely a family protection policy and does not attract surrender (termination value).
Some of the benefits
Security
Flexibility
Track Record
Professional Service
- The minimum and maximum age of entry are 18 and 63 years respectively
- Minimum cover period is 2 years while maximum is 5 years
- The maximum exit age is 65 years
- Premium can be paid monthly, quarterly, semi-annually, annually or as lump sum (single premium)
- Cover is against death from any source
- The minimum benefit that can be chosen is N2,000,000.00
- Three month waiting period applies for non-accidental claims
- Family protection as it provides lump sum benefit for one’s dependents in case of death.
- It is the cheapest and most affordable life assurance product.
- Peace of mind knowing one’s loved ones is insured in the event of one’s passing.
- It can be used as collateral security to secure a loan.
- It can be used to take care of key-man risk for organisations and partnerships.
- It qualifies for tax exemption.
Documents required to sign up
- Completed Proposal Form
- KYC documents = Passport Photograph, valid and acceptable means of identification and evidence of residence
You can report a claim by:
- Call 02 01 270 6801
- Send an email to [email protected]
Claim Turnaround Timelines
CLAIMS TYPE |
EVENT |
TIMELINE |
REMARK |
|
ALL CLAIMS |
Acknowledgement of claim |
Within 24 hours of receipt of notice |
Count from noon of the working day of receipt of claim notification |
|
Pre-maturity notice signed by the client on validity of account details previously provided for savings and endowment claims |
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CLAIMS TYPE |
CLAIM EVENT |
PAYMENT TIMELINE |
REMARK |
|
|
Maturity |
Payment on the due date |
Count from noon of the working day of receipt of executed voucher |
|
SAVINGS and ENDOWMENT |
Surrender and Termination |
72hrs after receipt of the request |
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GROUP LIFE, CREDIT LIFE, MORTGAGE PROTECTION,TERM ASSURANCE AND SUNSET BENEFIT PLAN |
Death |
48hrs - 72hrs after receipt of executed discharge voucher |
Count from noon of the working day of receipt of executed voucher |
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Other Riders |
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N. B* All hours are for working days only and do not include all public holidays and weekends within Nigeria. |
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*Payment processing timeline is subject to the receipt of the EDV and complete supporting documents. |
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Features
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Benefits
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How to get started
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How do I make a Claim
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Frequently Asked Questions
- The minimum and maximum age of entry are 18 and 63 years respectively
- Minimum cover period is 2 years while maximum is 5 years
- The maximum exit age is 65 years
- Premium can be paid monthly, quarterly, semi-annually, annually or as lump sum (single premium)
- Cover is against death from any source
- The minimum benefit that can be chosen is N2,000,000.00
- Three month waiting period applies for non-accidental claims
- Family protection as it provides lump sum benefit for one’s dependents in case of death.
- It is the cheapest and most affordable life assurance product.
- Peace of mind knowing one’s loved ones is insured in the event of one’s passing.
- It can be used as collateral security to secure a loan.
- It can be used to take care of key-man risk for organisations and partnerships.
- It qualifies for tax exemption.
Documents required to sign up
- Completed Proposal Form
- KYC documents = Passport Photograph, valid and acceptable means of identification and evidence of residence
You can report a claim by:
- Call 02 01 270 6801
- Send an email to [email protected]
Claim Turnaround Timelines
CLAIMS TYPE |
EVENT |
TIMELINE |
REMARK |
|
ALL CLAIMS |
Acknowledgement of claim |
Within 24 hours of receipt of notice |
Count from noon of the working day of receipt of claim notification |
|
Pre-maturity notice signed by the client on validity of account details previously provided for savings and endowment claims |
||||
CLAIMS TYPE |
CLAIM EVENT |
PAYMENT TIMELINE |
REMARK |
|
|
Maturity |
Payment on the due date |
Count from noon of the working day of receipt of executed voucher |
|
SAVINGS and ENDOWMENT |
Surrender and Termination |
72hrs after receipt of the request |
||
|
|
|
||
GROUP LIFE, CREDIT LIFE, MORTGAGE PROTECTION,TERM ASSURANCE AND SUNSET BENEFIT PLAN |
Death |
48hrs - 72hrs after receipt of executed discharge voucher |
Count from noon of the working day of receipt of executed voucher |
|
|
Other Riders |
|||
|
|
|||
N. B* All hours are for working days only and do not include all public holidays and weekends within Nigeria. |
||||
*Payment processing timeline is subject to the receipt of the EDV and complete supporting documents. |
||||