Childhood Insurance

Target group
The Childhood insurance is designed for people who want to provide financial assistance for their children’s future development when the children reach a
specified age. The obvious advantages of this type of insurance over bank deposits are its high yield and risk element.
Insured person
The Insured and the Insuring party are the same person. Usually they are the parents or close relatives of the child in whose favour the insurance is
taken out. The Insured shall be a natural person aged between 18 and 60 as of the date of the beginning of the insurance cover, and they should not be
over 75 upon the expiration of the insurance policy.
Beneficiaries
The Beneficiary is a child up to the age of 17, specified by the Insuring party, who will be between 18 and 25 upon the expiration of the insurance policy.
Risks covered
Death of the Insured during the term of the insurance cover
Additional risks
In view of the fact that some risks that are not covered by the main insurance policy may occur during the term of the agreement, the followed additional
covers are offered:
 in the event of death or permanent disability of over 50% caused by accident the Insured receives compensations;
 in the event of permanent disability caused by accident or illness the Insured is released from the obligation to pay the due premiums.
Term of the insurance
The agreement is concluded for a term of at least 5 years; based on the provision related to the child’s age at the end of the insurance cover, the
maximum term of the insurance is 25 years.
Insurance premium
The annual premium is determined upon the conclusion of the agreement. The premium may be paid in installments – biannually, quarterly or monthly.
Changes to the installments may be made once a year at the request of the Insuring party. In the event of default on any of the premiums the Insurer
may terminate the agreement if less than 2 years have passed since it became effective, or transform in into a Paid Agreement if more than two years
have passed.
Insurance payment
 In the event of an insured risk the Insurer releases the Insured from his obligation to pay the premiums as of the first maturity of the
premium/premium installment following the death
 Upon the expiry of the insurance cover the payment is calculated as follows: Payment = Sum insured as per the List/the Sum insured of the Paid
agreement + Indexation + Bonus – Overdue premium – Due premium installments- Loans under the agreement
 The payment upon the expiry of the insurance agreement is made regardless of the fact whether an insured event has occurred or not.
Other terms
 A Paid Agreement is an agreement under which no new premiums are due. On the grounds of the premiums received by a certain point, provided
at least two years have passed since the agreement became effective, the Insuring Party may request the transformation of the agreement into a
Paid Agreement, upon which the Sum Insured shall be reduced. The Insurer may transform the agreement in the event of default on a due
premium after he notifies the Client about his decision. Payments on a Paid Agreement may be renewed within one year after it has been
transformed, provided the due premiums and interests are paid;
 Surrender value – the amount the Client may receive upon the termination of the agreement. Right to surrender occurs two years after the
agreement enters into force;
 Bonus – an additional sum (resulting from the investment policy of the Insurer) that is transferred to the batch of each agreement annually. The
accrued Bonus may be withdrawn at any time during the term of the agreement;
 Indexation – the increase in the Sum insured and the due premium installments to offset the inflation, but no less than 5%. A proposal for
indexation is made to the Insuring party once a year and he may accept it or refuse it, in which case the Sum insured is not changed.
Taxation
 at the beginning of the agreement – no tax relief;
 upon the expiry of the term of insurance – the Insurance payment is exempt from taxes
 the Bonus is exempt from taxes in all cases

Child Life Insurance

Child life insurance is for the case of accidents or illnesses.

This insurance cover should pay the costs of hospital treatment and recovery. Such a policy covers your
spouse, domestic partner, and children.

You can set about insuring your dependents either through a workplace child life insurance policy or get
an independent policy.

Child life insurance can be whole life or for a term. You can select such policies online by going to the
relevant site, selecting the type of policy you want, the period for which you want it, and the amount of
premium you are prepared to pay. You should thus be able to get several child life insurance quotes.
If you select a whole child life insurance policy, you will need to pay the premium over a longer period of
time. Such a policy also includes a sizeable savings component.

However, you can use a whole child life insurance policy to cover eventualities such as college education
or retirement.

For a term child life insurance policy, you need to pay a larger premium over a shorter period of time.
You can use term insurance policies to create assets for your children till they reach adulthood. Such
policies can remain in force for 10 years to 15 years.

You can purchase a child life insurance policy for dependents if you are working 20 hours a week or
more. When insuring your children or dependents, you should select a cover that is at least five times
your monthly salary to factor in the effects of inflation. By insuring your dependents, you can reduce
taxes, create un-taxable income, and create an asset.

When selecting a policy, you have to note the age of the dependent (child life insurance for a baby is
also available) and the financial goals to be achieved. If you are purchasing the policy for your spouse or
domestic partner, it should cover eventualities, such as retirement and illness.

If you have just started a new job, you can purchase a child life insurance more commonly known as a
dependents policy one month after the date of hire by submitting a completed enrolment form to the
insurance company or the employer, in case a workplace insurance policy is in operation.

By insuring your dependents and taking out a child life insurance policy, you can ensure that you will be
able to pay for hospital care in case of their illness, tuition bills in case of college-age children, or other
needs, in case of domestic partners and spouses.

With Term Life insurance, you can enjoy greater peace of mind
today knowing you’re helping protect your loved ones tomorrow.

 Term Life insurance coverage from P25,000 to P150,000 for CHILDHOOD ages from

0 to 18

The KIEMARA Childhood Life Plan provides a reliable, affordable way to help you protect your
family’s financial future. You choose the coverage and term that meets your needs—P25,000,
P50,000, P75,000, P100,000, P125,000 or P150,000—for 2, 3, 5, or 10 years. You choose the
plan that works for you and your budget.

 Attractive premium rates with no increases

 With KIEMARA Insurance you can get an affordable term life insurance policy and secure it at a
fixed premium rate that is guaranteed not to increase for the term of the policy. Unlike other types
of term coverage that raise rates each year, with the KIEMARA Term Life Insurance Plan, you are
assured you will pay the same budget-friendly premiums for the initial 2, 3, 5, or 10 year term you
own the policy. Premiums will never increase during the initial term. Premiums quoted are based
on applicant’s assumed good health. Other premium rates are available.

 Guaranteed renewable

After the 2, 3, 5, or 10 year duration of your policy, you can choose to renew annually at the
premium for your age at that time. Your option to renew is guaranteed—without a physical—at the
end of your term.

 Easy application—no medical exam required to apply

KIEAMARA’s Childhood Term Life Plan is life insurance made easy. No medical exam is needed
in most cases. The application process is simple—you can apply for term life insurance online
using the form above to find your coverage options and rates. If you have questions during the
application process, KIEAMARA Insurance Company can help! Contact our knowledgeable,
licensed KIEMARA Insurance representatives who will help you make the choices that are right
for you and your family. Coverage may depend on the answers given in the application. A medical
exam may be needed for cause and is required for applicants with diagnosed severe illnesses
and who choose P100,000 or more in coverage.