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The Fixed-Term Protection Plan is a life insurance policy covering you for a fixed sum insured over an agreed term. Your family or designated beneficiaries will receive a tax-free payout if a death occurs within the chosen term. This plan will help your family to maintain their standard of living in the case of an unexpected incident. It can also assist by paying for your children’s education and future needs.
You may also use this plan to cover your personal and business loans, and you can apply individually or with a joint-applicant. If you use this plan to cover bank loan requirements, your family or designated beneficiaries will receive the balance after the outstanding debts have been covered.
Your bank loan will also request you to take out adequate home insurance or business insurance. You may save time and money by choosing Laferla to cover all of your loan requirements.
The Protection Plan does not offer an investment return and has no maturity or surrender value.
If you are interested in learning more about Fixed-Term Protection Insurance, please contact us.
The Product Information Leaflet gives you a better understanding of the scope of this plan. You may also read more about optional additional benefits.
The Key Features Document gives you a better understanding of the key features of this plan. It also answers some frequently asked questions and provides a clear description of benefits.