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Altrisk Provides Swiftnsure for Immediate Cover

Swiftnsure is Altrisk’s latest underwriting innovation, providing immediate insurance cover for clients who need protection immediately.

 
This option provides all currently available lump sum benefits for natural causes (excluding Guaranteed Insurability) at 90% of the selected cover. This cover is also guaranteed on receiving a negative HIV test.  By choosing the Swiftnsure option, the client qualifies for 90% of natural causes cover immediately, as well as 100% accidental causes cover.

Altrisk recently received an application from a client who urgently needed to travel internationally for business purposes.  His broker submitted a Swiftnsure application on his behalf for R2.5m life and R2.5m critical illness cover.  Altrisk issued the policy within 61 minutes of receipt of the application.  The client was consequently able to go about his business with the peace of mind that his cover was firmly in place.

Swiftnsure works as follows: 

·         Provides clients with immediate access to 90% of R3 million maximum sum assured.

·         The cover is guaranteed once a negative HIV test has been provided. This means that the terms already offered on the 90% of cover remain unchanged, provided a negative HIV test is provided.

·         The remaining 10% of cover (the full cover) can be granted once all of the medical evidence has been received.  If the remaining blood test results (other than the negative HIV) are not acceptable, the remaining 10% of the sum assured is available on a final offer basis. 

·         In the event that no medical evidence is received within three months of acceptance or a positive HIV result has been received, natural causes cover will be reduced to 10% of the chosen sum assured. 

·         Swiftnsure is only available for clear applications (standard lives). However, non-medical underwriting considerations, such as occupation and hazardous pursuits, are utilised. 

·          Standard benefit conditions such as entry ages, exclusions, waiting periods and the like still apply.

·         Offers maximum cover of R3 million

·         Has a maximum entry age of 55

·         Covers 100% accidental causes

·         Has premium payments that start on acceptance 

 
For more information go to www.altrisk.co.za/products/specialist/swiftnsure/

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