Key considerations after purchasing Bowtie Term Life Insurance and the “Last Wish Rider”?

  • Updated

Notify your beneficiary or executor

Provide your beneficiary or executor of the will (if any) with basic information about your life insurance policy, such as: policy number, how to contact Bowtie, and how to make a claim. This will allow your beneficiary or family to receive the financial support and protection they need as quickly as possible after your death.

Be aware of changes that need to be reported

As a Bowtie Term Life or the "Last Wish Rider" policyholder, you have a responsibility to keep your agreement valid. Please note the following:

    • Change of residence: You must notify us of any change of residence at least 30 days before the next renewal date of your plan.
    • Change of beneficiary: If you wish to change your designated beneficiary, you must apply through our online platform. Click here for details.

Be aware of your right to cancel during the cooling-off period

Bowtie will refund your premium in full if you cancel your policy within the 21-day cooling-off period (from the effective date of the policy) and if no claims have been paid. Please note that if you cancel your Bowtie Term Life Insurance, your "Last Wish Rider" will also be terminated.