One of the Ghanaian family values is to provide care, respect and a decent or dignified burial for our loved ones. This policy provides immediate cash pay-out to the policyholder to cover funeral expenses of loved ones
You must be between the ages of 18 and 59 at inception to qualify for this policy.
There are four different types of plans under this policy. Plans A, B, C and D. Benefits amounts differ depending on the plan chosen. Premium calculations are based on the plan chosen together with the ages of the policyholder and other lives assured (i.e. sibling foster parents, grandparents, parents/parents in law, children and spouse)
1. Policyholder gets 100% of benefit amount whilst other lives get 60%
2. Lives coverable are policyholder, spouse, children, parents/parents-in-law and extended family (siblings, foster parents and grandparents)
3. Age limit for policyholder and spouse is between 18-59
4. Age limit for children is 21 years, and cut-off age for parents and extended family is 74
5. Monthly premium payments
6. No maturity or surrender benefit
7. Accidental death benefit which pays twice the sum assured if death occurs through accident. This is only applicable to the policyholder.
8. Waiver of premium benefit only applicable if policyholder took policy before age 54. Policyholder will no longer pay premiums if death should occur early or on attainment of age 65.
9. 10% cash back if no claims for a period of 5 years
10. No medical underwriting
11. Inflation protector to protect the value of your benefits