Make preparation to protect the ones you love in case of the unthinkable. You can choose policies between the top insurance companies. We’ll help you select the right plan to secure your family’s future – even if you are no longer around.
• Individual Coverage
• Investment Plans
• Critical Illness
Choose a life insurance policy that best suits your long-term needs. You can also find an affordable plan for when you need to meet certain loan requirements.
• Term Life – lump sum of the policy paid out upon death of policy holder
• Whole Life – lump sum of the policy paid out upon death of policy holder plus tax-free cash savings
• Universal Life – similar benefits to Whole Life but with more flexible terms, including ability to borrow or withdraw from policy in your lifetime
Choose from several options offered by the top health insurance companies. We will assist you to make the best choice for an Individual Health policy to suit your needs:
• Individual Health
Health & Life Insurance FAQ
it's all about...You
Unexpected eventualities can happen in life, so you don’t know if or when it could happen. Insurance is like a lifeboat that can save you or your loved ones from economic disaster in the event of death, critical illness or disability.
Change forms are available for completion, signature and witness by a Justice of the Peace. If the policy identifies the beneficiary as revocable the last step is to take the form to your agent. However, if your beneficiary is stated as irrevocable the change can only be made with the consent of the beneficiary that is currently on the policy.
Chancellor’s life and health insurance partners are Sagicor Life, Guardian Life and Lloyd’s of London (international).
This is generally restricted to a policyholder’s spouse and children, where coverage is extended to these family members at an additional, but relatively lower cost. The Life Insurance Act defines a spouse as a husband, wife or partners living together for at least 5 years.
The primary benefit is upon death. Living benefits relate to the Critical Illness component, long-term tax free savings and utilizing the policy as collateral for a loan Eg. A mortgage loan
Keeping your insurance coverage current to factor in new product innovations and inflation is very important. Your Chancellor agent will work with you to keep you abreast and for periodic reviews. These reviews are recommended for at least every 2 years.
Through an agency like Chancellor, you have various policy options from more than one insurance company.
You will be guided by representatives with greater industry expertise who know the features and benefits offered from different insurance companies.
The convenience of comparing policy options from one location instead of visiting various insurance companies to shop around.
In the event of sudden tragedy we facilitate an easier claims process with the expert support of representatives who will walk you through.
Generally the Critical Illness component of a policy covers up to 30 illnesses. This entitles the policy holder to a lump sum payment upon first diagnosis, which is intended to assist with medical bills and loss of income due to the illness.
Yes. Especially where your employer does not provide this option, you may speak to a Chancellor agent to educate yourself on insurance options that are best for you and your family.
You can also encourage your employer to talk with a member of Chancellor’s Employee Benefits Team to review options for providing coverage for staff.
Generally, health insurance has a maternity benefit that relates to costs associated with pregnancy and childbirth. After that period your child will need to be added to your policy as a dependent.
Several persons can be named as beneficiaries. It is best to discuss this decision with your insurance agent. You have the option of stipulating how the claim is to be allocated among your beneficiaries. If this is not clearly stated it will be divided evenly.
Ensure that you are clear about your beneficiary status of being revocable or irrevocable.
It is not generally a wise choice to cancel your policy for several reasons:
- You will no longer benefit from the accumulated payments you have already made
- If it is an issue of affordability, if a relevant eventuality happens it will be realised that the monthly premium payments were much more affordable than the cost involved in dealing with a life or health tragedy.
- It may be a case that you should reduce your coverage to make payments more manageable, rather than to not have an insurance policy.
- It may also be a case where you reduce your coverage to Term Insurance to keep you and your family covered.
- It is best talk with your Chancellor agent to discuss the best option for you, before you make a final decision. Our agents are educated and trained to look at the overall implications to give sound advice. In the end it is your decision to make, but be sure to make an informed decision.
You are in Good Company
You keep building the life you want. We'll protect it.
I would advise anybody who think they could need benefit for a critical illness in the future to get an insurance policy through Chancellor Insurance Agency. I tried it and it carried me a far way in the treatment process when I was diagnosed with cancer. It is of great use to me!