COMPANY PRODUCTS Menu opener CONTACT SERVICE Menu opener DOWNLOAD Menu opener RU Economic Insurance Plan (EIP) Download FAQ Videos Pension Benefit ECONOMIC INSURANCE PLAN (EIP) EIP is the ideal package for those who seek comprehensive insurance coverage combined with an opportunity to invest capital in a profitable way! G5S- Endowment Insurance with graduated death benefits and surplus participation (bonus) The sum to be paid on survival together with the accumulated bonus becomes payable at the expiry of the contract, while the insured person is alive. This insurance payment can be transferred to a bank account or you may choose to receive your accumulated capital as a pension under the PERSONAL PENSION PLAN from Medlife. If the insured person dies before the term of the contract expires, the death benefit to be paid will amount to as many fractions of the capital sum as years of insurance have expired (including the one in which the event occurred) in relation to the agreed-upon premium payment period. UTZ- Additional accidental death insurance The amount insured becomes payable, if the insured person dies as a result of an accident within the agreed-upon coverage period. UI- Additional accidental disability insurance The amount insured becomes payable, if to the person insured as the result of an accident a minimum of 30% permanent disability occurs. The grade of disability will be determined according to the disability percentage table shown in the General Insurance Conditions. RZ1- Additional risk insurance The amount insured becomes payable, if the insured person dies within the agreed-upon coverage period. If the annual premium is less than USD / EUR 500, rate RZ1 cannot be included. If the annual premium is USD / EUR 500 or more, RZ1 is worth USD / EUR 2.000. If the annual premium is USD / EUR 800 or more, RZ1 is worth USD / EUR 3.000. EXAMPLE Person insured Man/Woman, 30 years old Term of contract 15 years Annual premium USD 1.000 / EUR 1.000 Sum insured G5S USD 13.917 / EUR 13.460 RZ1 USD 3.000 / EUR 3.000 UTZ USD 13.917 / EUR 13.460 UI30 USD 13.917 / EUR 13.460 Case 1: The insured person dies as the result of an accident, beneficiary is his wife. 10 years of the contract have passed. G5S incl. bonus*): USD 9.555 / EUR 9.435 RZ1: USD 3.000 / EUR 3.000 UTZ: USD 13.917 / EUR 13.460 Sum payable: USD 26.472 / EUR 25.895 If the insured person dies after 10 years of insurance as the result of an accident, the sum payable to the beneficiary amounts to about USD 26.472 / EUR 25.895. Case 2: The person insured is alive at the end of the insurance term. What sum is to be paid out? G5S: USD 13.917 / EUR 13.460 + bonus*): USD 835 / EUR 1.372 Sum payable: USD 14.752 / EUR 14.832 At expiry of the contract, after 15 years, the sum to be paid out on survival amounts to about USD 14.752 / EUR 14.832. *) Figures referring to future profit shares are the result of calculations made on the basis of present circumstances. The actual amount of the profit sharing bonus will depend on the developments of the capital markets, the actual investment income and the future cost trend and risk experience. Therefore such information is not binding. V: 1.1.2021 Alpha Business Centre 27 Pindarou Street 3rd Floor Block B CY-1060 NICOSIA office@medlife.net © 2021 MEDLIFE Service FAQ General Insurance Conditions Life App Complaints Products Apollo Supreme (APS) Apollo Supreme Single Premium (APS-SP) Flexible Future Plan (FFP) Economic Insurance Plan (EIP) Family Insurance Plan (FIP) Endowment Insurance (G5S) Kids Insurance Plan (KIP) Single Premium Insurance (E11) Group Economic Insurance Plan (GEIP) Pension Benefit (PS0) Free Additional Product UI50P €UR-VIP €UR-VIP Single Premium Company Independent Auditor Links CRS - Tax Data Download Forms and Product Infos Medlife Song Videos Reports Factsheets Imprint Disclaimer Data protection information