Frequently asked questions about BMI life insurance in Guatemala

BMI Guatemala offers three life insurance policies. Lifetime and Nova II combine protection and savings, with a guaranteed minimum return of 3% per year. Term 100 is a pure-protection term insurance for a term of 5 to 30 years; on 20- and 30-year terms it allows a return of premiums rider.

Traditional life insurance only protects in the event of death. Insurance with savings, such as Lifetime or Nova II, protects your beneficiaries and also helps you build resources for future goals: your children's education, a home or your retirement.

The indemnity is not paid directly to the minor. Payment is made in accordance with applicable law, usually to their legal guardian.

Lifetime is a life insurance policy that combines protection and savings. It protects your beneficiaries' financial well-being and allocates part of the premium to building up funds, with a guaranteed minimum return of 3% per year. You can use those funds for your personal projects.

Yes. You can increase or decrease it as your needs and ability to pay change. You can also complement the policy with riders according to your goals.

It depends on the option you choose when purchasing: level or increasing coverage. With the increasing option, your beneficiaries receive the sum insured plus the accumulated values.

Nova II is a life insurance policy that combines protection and savings, with a guaranteed minimum return of 3% per year. It can be purchased from age 1 to 75, so it is also available for minors.

Both combine protection and savings with a guaranteed 3% per year. Nova II applies the same target premium to smokers and non-smokers and can be purchased from age 1.

Yes. If you are diagnosed with a terminal illness, you can receive an advance of 50% of the sum insured to cover the expenses at that time.

Term 100 is simple, pure-protection term life insurance for a term of 5, 10, 15, 20 or 30 years. With 20- and 30-year terms, you can add a return of premium rider: if you are still alive at the end of the term and meet the conditions, you receive a full refund of the net premiums paid.

You can renew the plan for the same term and the same sum insured, without providing evidence of insurability. If you purchased the return of premiums rider (20- and 30-year terms), you also receive the net premiums paid.

As soon as possible. Premiums are usually more favorable when you purchase while young and in good health.

No. Reinstating the policy does not cancel the return of premiums rider.