Quality Keyman Protection Plan

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Quality Keyman Protection Plan

This policy is designed to protect the account of financial institutions (Banks) who advance huge loans to key persons of an organisation.

The plan pays the scheduled outstanding loan balance to the creditor when the key person (loan beneficiary) dies during the loan repayment period. Riders: Total and Permanent Disability/ Total and Temporal Disability

Interest rate

Not Applicable to this Policy

Frequently Asked Questions

Below are a set of answered questions categorized under the respective topics for your convenience. Kindly browse through for answers to your questions. Chances are the questions you may want to ask have already been answered.

Who can I contact for further information?
if you require further information or clarification, please do not hesitate to call your QLAC sales representatives, or the nearest QLAC office.
  • Who can take this policy?
    All parents and guardians above 18 years re eligible to take the policy. Guardians aged 60yrs and above can invest with interest but limited risk benefits.
  • What are the optional packages that comes with this policy?
    1. Waiver of premiums on Death of the guardian/parent: The Company pays the premium on behalf of the parent/guardian up to the Maturity period
    2. Waiver of premiums on Death or Disability benefit: When the assured dies or becomes totally and permanently disabled, no premium is due from the assured for the unexpired policy term. However the Company assumes the responsibility of paying the premiums for the rest of the premium paying period.
    3. Immediate Death Benefit: On the death of the guardian, the appropriate Sum Assured.(ie estimated maturity value) at the time of death is added to the investment account and paid in bulk to the beneficiary for the education/training of the child.
  • What if I am unable to contribute regularly?
    If the account value in any month is less than the monthly deduction for that month, a grace period of one month would be granted for the premium to be paid. Failure to pay the premium after the grace period renders the policy invalid.
  • Can I increase my premium?
    Certainly yes. In order to stand the effects of inflation and accumulate more funds, the policy holder may choose from time to time to increase his/her periodic premium.
  • What is the premium payment frequency?
    Premiums are paid either on monthly, quarterly, semi-annually or annually. No claims will be paid when the policy is not in force or premiums are in arrears.
  • What is waiting period?
    The waiting period is six (6) months from the inception of the cover. During this period, no claim will be paid except claims in the event of unnatural or accidental death.
  • Do I need to declare my medical information
    YES. All you have to do is answer the medical questions applicable to you and the assured. Medical examination may be required where necessary.
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