Frequently asked questions about life insurance

BMI del Ecuador offers individual and corporate life plans that provide financial protection for individuals, their families and employees. 

Term 95 is life insurance designed to protect the future of your loved ones. If something were to happen to you, it provides the financial support your family needs to maintain their quality of life and keep pursuing their plans. It offers coverage up to age 95, with terms of 5, 10, 15, 20 or 30 years, and includes a return option for greater peace of mind.

​At the end of the contracted term, your policy automatically renews for an equal period, with no need to prove insurability. The premium will be adjusted according to your age at the time of renewal.​

The sooner, the better. It is usually purchased by people aged roughly 18 to 65, and starting young gives you access to a more affordable cost.

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. Plans start at USD 25 per month.

Your savings grow with a guaranteed compound interest rate of 2.5% per year.

From policy year 4 you can withdraw 50% of the surrender value. From year 5, 100%, with no penalty. Keep in mind that withdrawing the surrender values terminates the insurance and, with it, the coverage.

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