BENEFITS AND SUPPLEMENTS
StateTrust Life & Annuities supplements are additional benefits of life policies, which can be acquired when taking out the policy or during its term and which allow to extend the coverage, either the amount per claim or the risks covered.
BENEFITS
LIFE POLICIES
Upon death:
Level
Incremental
The insurance coverage can be level and remain the same or it can be incremental, in which the death benefit increases as the account value increases.
EDUCATION PLANS
Semi-annual amount at the age of study
The benefits are paid to the plan holder on the start date of studies.
If the holder dies, the beneficiary begins to receive the funds immediately, or they can be paid to the beneficiaries or the designated student on the start date of studies (as previously requested by the plan holder).
RETIREMENT PLANS
Annual amount at retirement age
Provides income during the retirement period specified in the plan. Retirement benefits are paid annually.
If the plan holder dies, the beneficiary is protected through the immediate execution of the withdrawal.
SUPPLEMENT
ACCIDENTAL DEATH (ADB)
Additional coverage that is executed in the event of death by accident.
SPOUSAL INSURANCE/OTHER INSURED (OIR)
Coverage for an additional insured within the same policy. It is generally used for spouses, minor children, and parents. It allows to insure another person for a minimum premium increase.
ADDITIONAL TEMPORARY INSURANCE (LIPR)
Additional coverage for a specific period of time that the client selects when applying for a policy. It allows for greater coverage at a lower cost and offers a good cost/benefit ratio.
ACCELERATED BENEFIT FOR TERMINAL ILLNESS
Partial advance of coverage –during the life of the insured– in case of proven terminal illness and with a specific life expectancy prognosis. This supplement has no cost to the insured.
WAIVER OF PREMIUMS
It consists of the waiver of the payment of main premiums, if the insured due to bodily injury or illness is declared totally and/or permanently disabled and cannot perform their work occupation. StateTrust Life will cover the premium payment of the main insured and maintain the validity of the life policy during the period in which the insured is disabled. The premium payment will only cover the monthly cost of the policy insurance and other expenses (not including savings components, or surcharges). The original death coverage and its values, if any, are not affected.
TOTAL AND PERMANENT DISABILITY
StateTrust Life will pay the advance of the established insured sum if during the term of your life policy, the insured suffers a proven disability, due to an accident, an illness, or both.
Total and permanent disability is considered to be that physical or mental condition suffered by the insured as a consequence of an accident or illness and that has produced a total and permanent disability for the performance of their professional or autonomous activity.
Statetrust Life
Financial solutions for every stage of your life.