“Do the difficult things while they are easy and do the great things while they are small”.

“A journey of a thousand miles must begin with a single step”.

–Lao Tzu


If a child, a spouse, a life partner, or a parent depends on you and your income, you need life insurance.

–Suze Orman


Benefits of Investing in a Life Insurance Plan

In the event of your death, a life insurance policy could:

  • provide income to your family members for them to maintain their lifestyle
  • pay off your mortgage to have a debt-free house
  • provide for your children’s education
  • pay for your final expenses of a funeral
  • provide an emergency fund to handle unexpected financial crisis

Assuria’s Life Insurance is for you!

Here’s why we’re different

  • Most affordable Plans in Guyana
  • Largest Coverage available in Guyana
  • Competitive interest rate offered on Premiums
  • All Life Plans are Profit-Sharing (Except Term Insurance)
  • Limited medical requirements up to GYD 15M
  • No Extra Cost for Waiver of Premiums Benefit

Why Assuria?

  • Eligible for Coverage from 0 – 70 years (most plans)
  • First and only financial institution in Guyana to be ISO 9001:2015 certified
  • No adjustments to premiums if claims paid are 65% or less than Premiums
  • No medical examination for life insurance coverage under $15,000,000
  • Free Waiver of Premium Benefit
  • You earn discounts and save from 50 plus participating stores all year round
  • Convenient Locations (7 Offices)



With the exception of term insurance plans, all of the life and pension products have a profit-sharing arrangement. Here the insured receives a portion of the investment returns that Assuria Life (GY) Inc. achieves from premiums paid, which is provided through a profit-sharing system / dividend distribution.

This allows the profit to be added to the insured capital, making it significantly higher than initially assured.

Individual Insurance Plans

Whole of Life Plan

Lifetime (Funeral Insurance)

  • This product guarantees a face amount at death at any time during the lifetime of the insured. The benefit will be paid when the insured dies.
  • The capital can be used to pay the costs of the funeral and other expenses.
  • Limited premium payment period of 10 or 20 years.
  • The waiver of premiums is also covered in case of disability of the insured.
  • AgeThere are no restrictions regarding the age of the insured. However, if the insured is older than 70, the insurance may only be taken out at single premium payment (once-only deposit). In other words: if a person is older than 70 and such person wants to take out insurance, then we do not offer premium payment

There are options for co-insureds!

  • Family members / children of the insured may be co-insured and this applies to children up to 21 years of age. If a person is older than 21, a separate insurance / policy has to be taken out.

Assuria’s Whole of Life Plans




Provide coverage throughout the lifetime

In the event of death the nominee receives the amount of insurance + profit share

Persons whose risk profile will change after a certain period

Policyholder has the option of paying premiums for 10 or 20 years

Policy can be surrendered after 3 years for the cash value of the policy

Persons who may only want to pay premiums for 10 or 20 years before retirement

Premium remains constant

Policy can be assigned to a lending institution

It is suitable and profitable if this policy is taken at younger age, as premium is more affordable and remains constant

Straight and Advanced Endowment Insurance (Savings Plan)

Straight Endowment Insurance

  • This is a life insurance product designed to pay a lump sum to the policyholder after a

specified term (on its ‘maturity’) or on earlier death of the insured.

  • Endowments may be cashed in early and the policyholder then receives the surrender


  • At death of the insured the full face amount is paid to the beneficiary.


Advanced Endowment Insurance (Period of 12, 16, 20 & 25 years)

  • This product offers the insured the possibility to accrue capital in combination with a (temporary) life insurance.
  • With the plan, the insured pursues to accrue a certain capital (the savings capital) on the expiry date.
  • This capital is accrued by paying a specific premium as of the inception date of the insurance up to the expiry date.
  • If the customer is still alive during the period chosen, the accrued benefit becomes payable in instalments (10%, 20%, 20% & 50%).
  • However, if the customer dies before the expiry date, then the total benefit becomes payable in favour of a beneficiary.
  • AgeThe maximum upper age limit for this insurance is 70.

Assuria’s Endowment Plans




Protection & Savings Plan

Can safeguard the financial security of minors

Persons requiring monies at certain intervals to meet long- or short-term goals along with insurance protection

Pays as a result of death or if the insured survives the period

Can be used by the policyholder during a period for financial protection

Persons can convert lumps sum payment at the end for a pension benefit

Provides for periodic payout at regular intervals to the policyholder

Full Death benefit payable to the nominee when the insured dies even after payment of benefits at the intervals before death or maturity

Persons seeking to ensure that full sum insured is payable at death even after partial maturity payments

Establishes a cash value after 3 years

Can be surrendered for cash

Persons requiring emergency funds

Investment returns are fixed

Can also be used as an investment vehicle

Persons looking for other investment options outside of the banking system

Term Insurance Plans

Level Term & Term Plus Insurances

  • This is a life insurance product which provides coverage at death at a fixed rate of Payments for a limited period of time.
  • This life insurance product provides coverage at death at a fixed rate of payments for a limited period of time. (10, 15, 20, 25 & 70 Years)
  • Minimum Age 18 years; Age plus the term of insurance should be shorter or equal to 70 years
  • This product is generally purchased in combination with a mortgage and covers a specific amount equal to the loan amount, supplied by financial institutions such as a bank or an insurance company.
  • The sum insured is payable if the insured dies within the duration of the insurance and it is used to pay back the outstanding loan amount.
  • However, if there is no loan the benefit may be paid directly to the beneficiaries.
  • After the death of the insured the policy is canceled and no further premiums are paid.


Partial Refund of Premium – Term Plus

  • If the policy remains in force and the insured person is still alive at the expiration date of the policy, 25% of the total premium paid will be refunded to the insurer or policyholder. 

Assuria’s Straight Term & Term Plus Plans




Provides Financial Protection against death up to age 70

Can be used as a collateral for a loan

Persons seeking a mortgage from a lending institution

Insurance amount to be paid to the Nominee (Beneficiary or Estate) in the event of death

Death benefit payable to the nominee when the insured dies

Students seeking a loan for education and bank requires coverage

Cheapest form of Life insurance

Large amount of coverage at a low premium

Businesspersons seeking pure risk coverage and the opportunity to invest funds elsewhere

May be converted to a Whole of Life Plan

May be renewed when coverage expires

Premiums are fixed throughout the period of coverage

Known Factor and if insured survives the period, 25% of the premiums is refunded

Educational Plan

This product guarantees a child of an income during the study period. The child receives a fixed monthly income during a certain period of time.

In general this payment commences when the child is 18 years old and continues to the age of 25.

If the parent becomes prematurely disabled or dies, the child will still receive the payment during the agreed period of time.

Income Plan

The objective of this product is to provide for a fixed lifelong income to the insured from the pension date until death of the insured.

If on the pension date the insured is alive, the insured pension becomes payable as a lifelong annuity.

What happens when the insured dies?

Option I: whenever the insured dies the secondary insured receives a lifelong widow’s or widower’s pension

Option II:

  1. In case of death of the insured prior to retirement the sum of the paid premiums will be paid to the beneficiary.
  2. In case the insured dies within 7 years after the commencement of the pension payments, a lump sum of 24 times the monthly annuity will be paid to the beneficiary.

Immediate Pension Plan

The objective of this product is to immediately have at one’s disposal a life-long retirement pension through the payment of a single premium.

These insurances are intended for companies that insure their retired employees for a guaranteed retirement pension.

It is also possible to have coverage for the secondary insured. If the insured dies, while the secondary insured is still alive, 60% of the retirement pension amount is paid lifelong to the secondary insured ( if alive) .

Group Life Insurance Plan

How does a Group Life Plan help you?

  • It can be purchased with a minimum of 6 employees.
  • It provides financial protection for your beneficiary/beneficiaries who may become financially vulnerable as a result of your death or disability.
  • The cost associated with your coverage is usually borne by your employer.
  • You may convert to an individual life policy if or when you leave the employment of your employer, regardless of your health condition.
  • You receive a certificate of insurance as proof of your coverage.
  • Your insurance can remain in force until you retire or extended to age 70 provided you are still employed by your employer.
  • No medical tests required for sum insured up to $5,000,000, and only a comprehensive questionnaire for coverage up to $15,000,000.

What is covered under a group life plan?

  • Group life insurance mainly covers death from any cause (natural, illness or accident).
  • Additional riders include waiver of premium for permanent total disability and an accidental death and dismemberment plan.

Group Pension Plans

The objective of this product is to provide a group of persons a fixed lifelong income from their pension date until death.

The policyholder of the group policy is an employer and the employees, their spouse and children are the members.

If on the pension date the insured is alive, then the insured old age pension becomes payable to the employee as a lifelong annuity.

Defined Benefits Plan

An employer’s sponsored defined benefit plan (DB) defines to which old age pension amounts an employee is entitled. In general this is related to salary and term of service of the employee (Final Pay Scheme).

Defined Contributions Plan

An employer’s sponsored defined contribution plan (DC) defines the contributions that will be paid into the scheme, which is usually 10% of the employee’s salary.  The pension benefit is determined at the end of the employee’s contributory years.

The spouse of an employee is entitled to widow or widower’s pension; for the children there is orphan pension, up to 18 or 21 years of the child.

When the insured dies, a lifelong widow’s or widower’s pension becomes payable as well as orphan pension.

Group Personal Accidents

What is a Group Personal Accident Insurance Plan?

  • It is a life insurance plan offered to a group of people.
  • It is usually provided by an employer to its employees or taken by groups of people with common interests (association groups).
  • It pays a lump sum in the event a member of the scheme dies  as a result of an accident, while a member of a covered association/group
  • The lump sum is usually a multiple of the member’s salary or a fixed amount.
  • The employer takes out the plan on behalf of the employees.
  • The policy document is in the name of the employer who usually pays the premium.  
  • This cover provides a benefit to beneficiaries if the member dies during the defined cover period.
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