Frequently asked questions about BMI life policies in Costa Rica

BMI Costa Rica offers five life insurance policies. Four protect your family and build value: BMI Ahorro, Best Indexed, Nova II and Uniterm II. The fifth, Term Plus 100, provides low-cost term protection, without building value, for the term you choose.

A term policy, such as Term Plus 100, protects you for a defined term and does not accumulate cash value; it is suited to temporary needs such as a loan or your children's education. A universal policy, such as Nova II, Uniterm II or Best Indexed, provides long-term protection, accumulates cash value and lets you adjust premiums and coverage.

Yes. You can contribute above the planned premium, within the policy limits. These contributions are added to the accumulated value after deducting the cost of insurance and charges. Before doing so, check the permitted amount with BMI.

Yes, in policies that accumulate value. With BMI Ahorro you can withdraw 50% from year 2 and 100% from year 3. Best Indexed allows partial withdrawals, and Nova II and Uniterm II allow partial withdrawals and loans. Keep in mind that withdrawals reduce the accumulated value and may affect the death benefit.

Yes. BMI's term policies, such as Term Plus 100, back personal loans and mortgages. If the insured dies, the policy covers the loan and any remaining balance is paid to the beneficiaries you designated.

Yes. Best Indexed and Nova II are available from age 1. They are a way to start building long-term savings for a child, with life protection included.

Best Indexed, Nova II and Uniterm II accept Family Income, Accidental Death, Additional Insurance on the Primary Insured, Waiver of Monthly Charges for Disability, and Total and Permanent Disability. Term Plus 100 accepts a Total and Permanent Disability rider of up to US$500,000 and return of premiums.

BMI Ahorro is a life insurance policy with a built-in savings plan. With a fixed monthly installment, one part funds your beneficiaries' protection and the other goes to your savings. You purchase and manage it 100% online, from the website or the app, with no medical exams.

Approximately 50% of the monthly payment goes to your savings plan and the other 50% funds the life insurance. Plans start at US$25 per month, and you can add extra contributions whenever you want.

Your savings grow with a guaranteed compound interest rate of 3.5% per year.

From policy year 2 you can withdraw 50% of the surrender value. From year 3, 100%, with no penalty. If you surrender all the capital, the policy and its coverage end.

The saved capital is added to the policy coverage and both are paid to your beneficiaries, according to the terms of the contract.

Best Indexed is an indexed universal life insurance policy that protects your beneficiaries and lets you build value over the long term. The credited interest is linked to the S&P 500 or the Nasdaq-100, depending on the index you choose. Coverage starts at US$100,000, with flexible premiums and adjustable protection.

The interest depends on the performance of the chosen index and a participation rate. It has a guaranteed minimum of 1% and a maximum of 12%. It is not a direct investment in the S&P 500 or the Nasdaq-100.

Your beneficiaries receive the death benefit according to the option purchased. How the accumulated value is handled and whether outstanding loans or debts are deducted depends on the terms of the contract.

Yes. It includes an accelerated benefit rider that applies when the insured meets the contract's definition of terminal illness or terminal stage.

Nova II is a universal life insurance policy that protects your beneficiaries and builds cash value with a guaranteed minimum interest rate. Part of the premium covers the cost of insurance and charges, and the rest is added to the accumulated value. Coverage starts at US$100,000 and is available from age 1.

No. Nova II builds value with a guaranteed minimum interest rate and is not subject to stock market volatility.

Yes, as long as the policy has enough accumulated value to cover the charges and the cost of insurance. You can also adjust the sum insured when your needs change.

Yes. You can make partial withdrawals or take loans against the available cash value. These transactions reduce the accumulated value, may accrue interest and may affect the death benefit.

Uniterm II is universal life insurance with sums insured starting at US$250,000, flexible premiums and an adjustable sum insured. It combines protection for your family, your assets or your business with an accumulated value on which interest is credited.

Both are universal life policies with flexible premiums and accumulated value. Uniterm II starts at US$250,000 and is designed for broad protection, estate or business needs. Nova II starts at US$100,000 and can be purchased from age 1.

It is additional coverage that gives your beneficiaries extra income for a set period after your death, according to the rider's conditions.

Yes, through loans or partial withdrawals, according to the policy conditions.

Term Plus 100 is term life insurance with coverage starting at US$250,000, for terms of 5, 10, 15, 20 or 30 years. It protects needs for a specific period, such as a loan, your children's education or business continuity. It does not accumulate value, so the entire premium goes to coverage.

If you wish, the policy renews automatically for another period of the same length, with no new evidence of insurability. The renewal premium is calculated based on attained age.

On 20- and 30-year terms, you can add the return of premiums rider. At the end of the initial term, BMI refunds the total premiums paid minus administrative charges. Afterwards, you can remain protected by paying the corresponding premium.

It is a rider of up to US$500,000. It pays the contracted sum if, due to a covered illness or accident, you become totally, permanently and irreversibly disabled from working in an occupation for which you are reasonably qualified. It requires medical certification and completion of the established period.