The MSV Guaranteed Over 50’s Plan is designed for those who would like to leave a lump sum on death. This could help to pay towards funeral expenses or any outstanding debts or to leave as a legacy.With the MSV Guaranteed Over 50’s Plan your acceptance is guaranteed provided you are a Maltese resident aged between 50 and 80. There are no medicals or health questions and on death a cash lump sum is payable. You may also nominate who you would like to receive the cash lump sum.
These are the main features of the MSV Guaranteed Over 50s Plan:
Type of Plan
Whole of Life Policy
Annually - €60 Half-Yearly - €30 Quarterly - €15 Monthly - €5
Age at Entry
Minimum 50 years, maximum 80 years
Basis of Life Cover
Protecting your Dependents
Upon the death of the Person covered, the Death Benefit will be paid to the heirs and/or beneficiaries.
You can appoint one or more beneficiaries to receive the benefit under the Plan, when this is due. There is no charge for this arrangement to be implemented and it requires only the completion of a simple form. The appointment of a beneficiary (and acceptance thereof) under a life insurance contract does not need to be confirmed in a will and it also supersedes the provisions of a will if there is any conflict between the two.
This is how the Plan works:
· You choose the level of premium you want to pay and we guarantee a fixed amount of life insurance based on your age when the policy starts
· The minimum premium payable is €5 a month and the maximum is €100 a month. You can choose any premium within this range so long as it is rounded to the nearest Euro.
· Premiums can be paid monthly, quarterly, half yearly or yearly and will remain level throughout the plan
· If you reach your 90th birthday you stop paying your premiums but the life insurance will continue for the rest of your life
· The plan will end on your death, when the death benefit will be paid out as a cash lump sum
· You can help make sure that the cash sum reaches the people that you would like by nominating them as beneficiaries.
Interested in knowing more about the MSV Guaranteed Over 50s Plan? Learn more about the benefits it will offer you by clicking on the next tab. You may also request a quote by clicking on Apply Now.