Ocaso Multi-Life

What does Ocaso Multi-Life consist of?

The main purpose of the Ocaso Multi-Life Insurance is to cover the economic requirements of the family in the event of the death of the Insured due to any cause.

What is the basic guarantee of this insurance policy?

Death due to any cause. In the event of this contingency, the beneficiaries of the policy would receive the insured capital.

What complementary guarantees does this policy offer?

  • The Permanent Total Disability of the Insured. 
  • Advance payment of the insured capital in the event of death due to any cause.
  • Accidental death. Additional capital.
  • Death due to traffic accident. Additional capital.
  • Death or permanent total disability due to accident. Additional capital.
  • Death or permanent total disability due to accident. Additional capital.
  • Grave Illness. Advance of 50% to 100% of the capital insured in the main insurance Simultaneous death. Additional capital.
  • Death due to heart attack. Additional capital.
  • Advice and succession management.

What is the maximum age for taking out the Ocaso Multi-Life insurance?

The maximum age for taking out an Ocaso Multi-Life insurance is 60 years.

What is the termination age for this insurance? Within the Annual Renewable type of policy, there is no termination age, allowing for the insurance to be renewed annually provided the insured pays the premiums, until the death of the insured. In the Constant option, the insurance policy will conclude at the end of the duration agreed when the policy was taken out.
What does the risk selection consist of? It is the result from assessing the content of the answers which the insured has provided in the health questionnaire which was completed and which is included in the insurance request. It is very important that the answers are true and detailed, and it must be completed by hand.

What contract options does the Ocaso Multi-Life insurance contemplate?

Ocaso Multi-Life can be procured under the Annual Renewable type of policy, in which the premium will increase according to the increasing age of the insured. The insurance shall conclude if the insured ceases to pay the premiums or in the event of death.

Another possibility is to procure Ocaso Constant Multi-Life. In this case the duration is agreed upon taking out the contract and the premiums for the main guarantee remain constant for the duration of the contract, although the premiums of some complementary services will increase annually according to the new age reached.

What is the termination age for this insurance?

Within the Annual Renewable type of policy, there is no termination age, allowing for the insurance to be renewed annually provided the insured pays the premiums, until the death of the insured. In the Constant option, the insurance policy will conclude at the end of the duration agreed when the policy was taken out.

What does the risk selection consist of?

It is the result from assessing the content of the answers which the insured has provided in the health questionnaire which was completed and which is included in the insurance request. It is very important that the answers are true and detailed, and it must be completed by hand.

When do medical check-ups need to be performed?

Up to 45 years and as of 120,000 Euros. From 46 to 55 years, and as of 60,000 Euros. As of 55 years, with a capital exceeding 30,000 Euros.

What are the minimum and maximum capital sums which can be insured?

The minimum contract capital of the main guarantee is 30,000 Euros, with no maximum limit which is conditioned to age, employment, reason for insuring, financial situation and health condition of the insured.

Is the premium tax deductible when presenting my income tax return?

No, the premiums paid for this life insurance are not tax deductible.

Who can be a beneficiary of the insurance policy?

Any individual or legal entity designated by the insured. In the event of death, the beneficiaries will normally be the family members of the insured, and in the event of disability this payment will go to the insured. When the insured has a personal loan or a mortgage, a financial entity is normally designated.