Life Insurance for Savings

Guarantees savings capital at the end of the policy.

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UNILIFE

This is a term life insurance that allows ensuring a sum of money chosen by you. It offers the following benefits:

  • It guarantees savings capital on the policy’s due date that would be the same in the event of death while the policy is in effect.
  • Profit sharing from the investment of reserves, with a guaranteed minimum.
  • Access to a loan on the policy’s cash value after the second year.
  • Recovery of the policy’s cash value after the second year.

For more information, please see our brochure.

The general conditions of Life Savings Insurance of MAPFRE details the covers of which the insured takes benefit, and the benefits, requirements and restrictions set forth in the agreement.

  • This insurance allows you to assure a quantity of money chosen by you at the end of the policy.
  • The beneficiaries who receive the benefits of the policy are designated in the application and will remain in effect until they are changed by the owner.
  • If the policy expires and has not been settled, for a period of 5 years -from the date the policy expired- the owner may request by writing the reinstallation.
  • The settled addictions increase the Cash Value and Loan Value of the policy, they can be settled by its Cash Value and are payable as part of the proceeds of the policy.
  • The owner can obtain loans with the sole guarantee of the policy, while it is in force and holds some Value Loan.

Life and Disability Services for my Personal Insurance

Check the services related to Life and Disability insurance offered by MAPFRE PUERTO RICO.

Access

Life Savings Insurance of MAPFRE establishes a series of requirements and restrictions that users must know to understand what their rights and obligations are when hiring the policy.

  • If the insured commits suicide (before a period of two years from the effective date of the policy), the amount payable by the Company shall be equal to the amount of premiums paid.
  • The amount of any loan, plus interest until the end of year that the policy is in force, shall not exceed the loan value of this policy.
  • While the law allows it, any amount payable under this policy shall be subject to any claim of creditors or any legal claim.
  • If the Company does not recieve the premium payment before the end of the Grace Period, the Policy lapses and the insurance under it ceases, unless the contract provides a clause of Guaranteed Securities policy.
  • The Cash Value of the policy does not include the additional benefits provided by endorsement.
  • The Company reserves the right to defer payment of any Cash Value or the granting of any loan for a period permitted by law and not exceeding six months.

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MAPFRE LIFE offers its customers a series of recommendations for use so that they can benefit from all the covers of this insurance. To do this, is necessary to understand some important aspects both before and after hiring it.
Among the recommendations for hiring this product there are the following ones:

  • Read carefully all special provisions and clauses of each cover.

Once hired Life Savings of MAPFRE:

  • It is useful to know the terms, limitations and policy requirements to act precisely in each case.
  • Any claim, change or cancellation of the policy must be made through a written request.
  • The first premium must be paid by the date the policy starts, the rest can be paid monthly, quarterly, semiannually or annually.
  • The method of payment the premium may be changed by the owner at any policy anniversary.
  • In case the insured dies during a Grace Period, the overdue premium will be deducted from the proceeds of the policy.

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