Ninous Financial Group

These Terms & Conditions (the "Terms") govern the insurance plans provided by NinousFinancial Group (NFG) in the United States. By purchasing any of our insurance products, you agree to abide by these Terms. Please read them carefully.

Insurance Plans

Ninous Financial Group offers the following insurance plans:

  • Life Insurance with Cash Value
  • Indexed Universal Life
  • Whole Life Insurance
  • Annuity
  • Final Expense Insurance
  • Mortgage Protection
  • Tax-Free Retirement Fund

Eligibility

  • Residency: All applicants must be legal residents of the United States.
  • Age Requirements: Specific age requirements apply to each insurance plan. Consult the respective plan documentation for detailed information.
  • Medical Underwriting: Some plans may require medical underwriting. Acceptance is subject to the insurer’s discretion based on the medical information provided.

Application Process

  • Submission: Applications must be submitted through authorized agents or the official NFG website.
  • Accuracy: All information provided must be accurate and complete. Providing false or misleading information can result in denial of coverage or cancellation of the policy.
  • Approval: Approval of applications is at the discretion of NFG and subject to underwriting guidelines.

Premium Payments

  • Payment Schedule: Premiums are payable as per the schedule outlined in the policy document.
  • Methods of Payment: Accepted methods include electronic funds transfer, credit card, and check.
  • Non-Payment: Failure to pay premiums on time may result in policy lapse. Reinstatement is subject to underwriting and payment of outstanding premiums

Policy Cancellation

  • Cancellation by Policyholder: Policyholders may cancel their policy by providing written notice to NFG. Refunds, if any, will be processed according to the policy terms.
  • Cancellation by NFG: NFG reserves the right to cancel policies for reasons including, but not limited to, non-payment of premiums or misrepresentation of information.

Claims Process

  • Notification: Policyholders or beneficiaries must notify NFG of a claim as soon as reasonably possible.
  • Documentation: Required documentation must be provided to process claims, including, but not limited to, proof of loss and medical records.
  • Processing Time: NFG aims to process claims promptly, but timeframes may vary depending on the complexity of the claim.

Policy Benefits

  • Life Insurance with Cash Value: This plan accumulates cash value over time, which can be accessed or borrowed against.
  • Indexed Universal Life: Benefits are tied to market indices, providing potential for growth while offering a death benefit.
  • Whole Life Insurance: Provides lifelong coverage with guaranteed cash value accumulation.
  • Annuity: Offers a stream of income payments for a specified period or for life.
  • Final Expense Insurance: Designed to cover funeral and burial costs.
  • Mortgage Protection: Pays off the remaining mortgage in the event of the policyholder’s death.
  • Tax-Free Retirement Fund: Offers a way to save for retirement with tax advantages.

Exclusions and Limitations

  • Pre-Existing Conditions: Coverage may be limited or excluded for pre-existing conditions as defined in the policy.
  • Fraud: Any act of fraud or misrepresentation can void the policy.
  • War and Terrorism: Losses resulting from war or acts of terrorism may be excluded from coverage.
  • Suicide: Policies typically have a suicide exclusion period, during which benefits will not be paid if the insured commits suicide.

Regulatory Compliance

NFG complies with all applicable federal and state insurance regulations, including but not limited to the Illinois Administrative Code:
  • Section 909.10 Authority: Compliance with the authority vested by the Illinois Insurance Code.
  • Section 909.20 Definitions: Adherence to the definitions set forth by Illinois law.
  • Section 909.30 Applicability: Ensuring applicability of rules to all NFG’s insurance plans.
  • Section 909.40 Form and Content of Advertisements: Adherence to guidelines on the form and content of advertisements.
  • Section 909.50 Disclosure Requirements: Ensuring all necessary disclosures are made to policyholders.
  • Section 909.60 Identity of Insurer: Clearly identifying NFG as the insurer in all communications.
  • Section 909.70 Jurisdictional Licensing and Status of Insurer: Compliance with licensing requirements.
  • Section 909.80 Statements about an Insurer: Ensuring accuracy in statements about NFG.
  • Section 909.85 Advertising and Marketing of Annuities and Variable Life Contracts: Adhering to specific rules for these products.
  • Section 909.90 Advertising Records and Certificate: Maintaining accurate records of advertisements.
  • Section 909.100 Noncompliance: Understanding penalties for noncompliance.
  • Section 909.110 Conflict with Other Rules: Ensuring compliance in case of conflicting rules.
  • Section 909.120 Severability Provision: Adhering to severability provisions.

Amendments

NFG reserves the right to amend these Terms & Conditions at any time. Policyholders will be notified of any significant changes in a timely manner.

Governing Law

These Terms are governed by the laws of the United States and the specific state in which the policyholder resides.

Contact Information

For any questions or concerns regarding these Terms & Conditions, please contact NinousFinancial Group at:
Ninous Financial Group

Acceptance of Terms

By purchasing an insurance policy from Ninous Financial Group, you acknowledge that you have read, understood, and agree to these Terms & Conditions.