Who should consider this plan?
The MSV Funeral Expenses Plan is designed for those who would like to provide a lump sum on death in order to help provide the cost of their funeral.
With the MSV Funeral Expenses Plan your acceptance is guaranteed provided you are a Maltese resident aged between 35 and 80. There are no medicals or health questions and on death a cash lump sum is payable. You can also nominate who you would like to receive the cash lump sum.
How does the plan work?
- You choose the amount you want to be paid on death (either €5,000 or €10,000) and we calculate the premium.
- Premiums can be paid monthly, quarterly, half yearly or yearly and will remain level throughout the plan. There are no additional charges regardless of which frequency you choose.
- When you reach your 90th birthday you stop paying your premiums but the life insurance will continue for the rest of your life
- The plan will end on your death, when the guaranteed life insurance will be paid out as a cash lump sum
- You can help make sure that the cash sum reaches the people that you would like by nominating them as beneficiaries.
When will the plan pay out?
- The plan is on a single life basis only; it doesn’t provide joint life cover. The plan will therefore pay out when the person covered dies.
Will my payments ever go up?
- No - the premium you select at inception is guaranteed. This means that your premium will not change throughout the duration of the plan. If you stop paying premiums, your life insurance will continue for 30 days after your last payment, then your plan and the cover it provides will stop.
How much will it cost?
- You can choose a lump sum payable on death of either €5,000 or €10,000.
- The premium you pay depends on the amount of cover you require and your age. The table below shows examples for different ages.
- For example if you are aged 50 and would like to provide €10,000 on your death then the monthly premium would be €32
Call us for more info and terms and conditons