The elipsLife mortality product is comparable to a standard mortality capital product sold in the Italian market. It is offered to all members of a collective within the framework of a group contract. Individual medical underwriting is not conducted and affiliates with pre-existing medical conditions are included.
In the event of an affiliate’s death, an heir, or optionally any other defined beneficiary receives a single lump sum payment . The standard insured sum is between €10.000-30.000 per affiliate (higher sums are possible); the specified sum applies equally to all affiliates within a contract.
The applicable tariff is calculated based on the composition of the reported portfolio and the premium is determined and billed per head. The tariff is guaranteed for the standard contract period of one year.
The mortality capital is not sold stand alone, but sold only in a bundle – named Silver Package - with the Total and Permanent Disability product.
