COMPANY PRODUCTS Menu opener CONTACT SERVICE Menu opener DOWNLOAD Menu opener RU Family Insurance Plan (FIP) Download FAQ Videos Pension Benefit FAMILY INSURANCE PLAN (FIP) This package basically equals the EIP programme, but provides on top of that protection for your child with the term insurance rate R1C. FIP is the ideal package for those who seek comprehensive insurance coverage for themselves and their child, combined with an opportunity to invest capital in a profitable way! Details: 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 PENSION BENEFIT (PS0) 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 policyholder dies as a result of an accident within the agreed-upon coverage period. UI30 - Additional accidental disability insurance The amount insured becomes payable, if to the policyholder 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 policyholder 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. R1C - Additonal risk insurance for your child If the second person insured (child) dies within the agreed-upon insurance period the insured sum will be paid. The insured sum equals the sum insured under RZ1. In this case, the contract will remain upright without the additional rate R1C. EXAMPLE Person insured Man/Woman, 30 years old, child 3 years old Term of contract 15 years Annual premium USD 1.000 / EUR 1.000 Sum insured G5S USD 13.696 / EUR 13.246 RZ1 USD 3.000 / EUR 3.000 UTZ USD 13.696 / EUR 13.246 UI30 USD 13.696 / EUR 13.246 R1C (child) USD 3.000 / EUR 3.000 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 9.404 / EUR 9.285 RZ1: USD 3.000 / EUR 3.000 UTZ: USD 13.696 / EUR 13.246 Sum payable: USD 26.100 / EUR 25.531 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 26.100 / EUR 25.531. Please note: If the first insured person dies, the whole contract including all additional rates will be terminated. Case 2: The insured child dies (R1C) - What is the amount of benefit the policy holder gets paid out in this case? If the child insured at R1C dies, the insurer pays out to the policyholder a sum of about USD / EUR 3.000. The main insurance contract continues. *) 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