Term Life Insurance

An important way to financially protect your loved ones after death. Obtaining it offers peace of mind.

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Product Summary

Term life insurance is a vital way to financially protect your loved ones after death. Obtaining it offers peace of mind. The sum assured is payable at the death of the life assured provided it occurs within the duration of the policy. The policy term ranges from 1 to 25-year period with premium payment mode limited to Single and Annual only. Term life insurance is also a valuable estate planning and tax-saving tool. Life insurance debts are exempt from taxation.

Who Should Obtain Term Life Insurance?

Term life insurance is a good choice for those looking to provide income replacement for their families should something happen to them. More specifically, this type of insurance provides solid, affordable protection for those that have children, carry significant financial obligations, or own a company.

Basic Information

Term life insurance is in place for a period of time designated by you. The term ranges between 1 to 25 years. The insurance policy continues to be valid for as long as you pay the premium. The premium amount will never increase, regardless of your health condition.

A typical term life insurance coverage policy also guarantees a designated dying benefit. You set this specific amount and it will never change, regardless of the length of the policy. This means the AIICO Insurance PLC will pay the set amount to your beneficiaries whether the eventuality happens on the first or last day of cover.



This plan offers coverage for a specific length of time, typically ten years to thirty years. It does not build cash value as a whole-life plan does but it is less expensive because you don’t have to pay premiums over your entire lifetime. What’s even better is that term life insurance offers features including accidental death benefits, disability income replacement, return-of-premium term, etc., which can be tailored specifically for what type of needs you may have in mind!

Another benefit is that term life insurance is an affordable option for anyone, regardless of age.

Frequently Asked Questions

What is the best age to buy term life insurance?

The term life insurance is the best for people who are in their 40s or 50s when it’s time to think about retirement and how much money they have. This type of term life insurance includes some disability benefits because as you age your chances of becoming disabled increase.

How much term life insurance should you have?

Term life insurance is a term that covers you for your whole life, which means it will work until the end of your term. As such, there’s no magic number for how much term life can cover you in total or over time; instead, it depends on factors like your age and health condition.

At what age does life insurance stop?

Term life insurance will stop when you reach the term, which is a set amount of years. If you needed term coverage for 25 years and then changed to permanent coverage, it would cover your whole life up to age 65 (or another designated term).


Term Life Insurance is arguably the most affordable plan to ensure financial security for dependents in case the unexpected happens. It has been approved by our regulators.

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