Republic Life Insurance launches 2 new products

REPUBLIC Life Insurance Company (RLIC), part of the Republic Financial Holdings Ltd group, has launched two new products to expand its suite of offerings, including Trinidad and Tobago's first fully digital insurance product with a savings plan.

In a release, RLIC said its endowment savings plan and serene cover products were introduced on July 4 – both offerings crafted to provide accessible and affordable financial protection for customers and their families.

The endowment savings plan is a dual-purpose financial solution that grows a customer’s savings while providing life insurance protection.

"This fully digital offer, a first in TT, offers customers a convenient way to prepare for the future with guaranteed payouts," the release said.

Key features of the product include guaranteed maturity payout after five, ten or 15 years; life insurance protection with a coverage range of $10,000 to $750,000; affordable premiums with a refund policy after three years; and a fully digital experience.

The serene cover product is a funeral plan designed to provide support by offering straightforward, accessible coverage that helps ease any emotional and financial burdens.

"This product features a fast, transparent and entirely digital process that provides customers with meaningful protection," the release said.

Speaking at the launch of these two offerings, Robert Soverall, managing director of RLIC, said, "Our citizens deserve financial products that work as hard as they do.

"Our endowment savings plan combines disciplined savings with vital protection, all through a seamless digital experience, while our serene cover removes the barriers to insurance, making it simple, fair and accessible for all."