AHOTOSOPA PLAN
Policy Terms and Conditions
|
Cover |
Minimum Monthly Premium |
|
Savings |
120.00 |
|
Funeral & Hospitalization Premium |
30 |
|
Total: |
150.00 |
|
Minimum Daily Premium |
5.00 |
Policy Duration
The duration of the policy is two years subject to renewal upon maturity after two years.
LIVES COVERED UNDER THE POLICY FOR DEATH
This policy covers has a total maximum covered life of six (6)
|
Insured |
Sum Assured (GHs) |
Benefit Percentage |
Minimum Entry Age |
Maximum Entry Age |
Terminal Age |
Minimum Monthly Premium (GHs) |
|
Subscriber – Main Life 1 |
3,000.00 |
100% |
18 |
65 |
67 |
150.00 |
|
Spouse – 1 |
3,000.00 |
100% |
18 |
65 |
67 |
|
|
Parent/Parent-in-Law 2 |
1,500 |
50% |
35 |
75 |
77 |
|
|
Child (ren) – 2 |
750 |
25% |
0 |
23 |
25 |
|
|
Hospitalization |
900.00 |
30 cedis a day |
– |
– |
– |
|
|
Total: |
10,500.00 |
|
|
|
|
150.00 |
|
Minimum Daily Premium |
|
|
|
|
|
5.00 |
Waiting period:
|
Insured |
Waiting Period |
|
Subscriber – Main Life |
3 months |
|
Adult dependent |
6 months |
|
Hospitalization (Subscriber) |
1 day |
Withdrawal:
Allowable withdrawal up to a limit of 80% of savings fund after one year
Interest: A guaranteed minimum of 5%
Lapse Rule: Policy lapses after non payment of premium for 30 days – 30 days grace period
Surrender: Policy surrendered before maturity date attracts a first-year charge of 5%, second year charge of 2%
EWADIFUO AHOBANBO PLAN
Policy Terms and Conditions
|
Cover |
Minimum Monthly Premium |
|
Susu Savings |
50.00 |
|
Retirement Fund |
50.00 |
|
Total: |
100.00 |
Policy Duration
The duration of the policy is seven years subject to renewal upon maturity after seven years.
LIFE COVERED UNDER THE POLICY FOR DEATH
This policy covers the subscriber who must also be the contributor
|
Insured |
Sum Assured (GHs) and age bracket |
Benefit |
Minimum Entry Age |
Maximum Entry Age |
Terminal Age |
|
Subscriber (Contributor) |
1,000.00 18-40 years |
Death |
18 |
53 |
60 |
|
Subscriber (Contributor) |
1,000.00 18-40 years |
Total Permanent Disability |
18 |
53 |
60 |
|
Subscriber (Contributor) |
800.00 41-50 years |
Death |
18 |
53 |
60 |
|
Subscriber (Contributor) |
800.00 41-50 years |
Total Permanent Disability |
18 |
53 |
60 |
|
Subscriber (Contributor) |
600.00 51-59 years |
Death |
18 |
53 |
60 |
|
Subscriber (Contributor) |
600.00 51-59 years |
Total Permanent Disability |
18 |
53 |
60 |
Waiting period:
|
Insured |
Waiting Period |
|
Subscriber – Main Life |
6 months |
Withdrawal:
Allowable withdrawal up to a limit of 25% of the investment fund after one year
Optional Reimbursement of the susu fund (50%) is permissible after one year
Interest: A guaranteed minimum of 5%
Lapse Rule: Policy lapses after nonpayment of premium for 30 days – 30 days grace period
Surrender: Policy surrendered before maturity date attracts a charge
SKUUL BOAFO PLAN
Policy Terms and Conditions
|
Cover |
Minimum Monthly Premium |
|
Susu Savings |
50.00 |
|
Education Fund |
50.00 |
|
Total: |
100.00 |
Policy Duration
The duration of the policy is seven years subject to renewal upon maturity after seven years.
LIFE COVERED UNDER THE POLICY FOR DEATH
This policy covers the subscriber who must also be the contributor
|
Insured |
Sum Assured (GHs) |
Benefit |
Minimum Entry Age |
Maximum Age |
|
Subscriber (Contributor) |
500.00 18-40 years |
Death |
18 |
59 |
|
Child |
Education Fund |
0 |
25 |
Waiting period:
|
Insured |
Waiting Period |
|
Subscriber – Main Life |
6 months |
Withdrawal:
Allowable annual withdrawal up to a limit of 25% of the education fund after policy has been in force for three years
Optional Reimbursement of the susu fund (50%) is permissible after one year
Interest: A guaranteed minimum of 5%
Lapse Rule: Policy lapses after nonpayment of premium for 30 days – 30 days grace period
Surrender: Policy surrendered before maturity date attracts a charge
EXECUTIVE WEALTH PLAN
Policy Terms and Conditions
|
Insured |
Minimum Sum Assured (GHs) |
Maximum Sum Assured (GHs) |
Minimum Entry Age |
Maximum Entry Age |
Minimum Policy Term |
Maximum Policy Term |
|
Subscriber – Main Life |
20,000.00 |
100,000 |
18 |
54 |
10 years |
20 years |
LIFE COVERED UNDER THE POLICY FOR DEATH
This policy covers the subscriber who must also be the premium payer
Benefits:
|
Insured |
Benefit |
Compulsory/Voluntary |
Benefit % |
|
Subscriber (Main Life)
|
Death |
Compulsory |
100% |
|
Total Permanent Disability |
Voluntary |
70% |
|
|
Critical Illness |
Voluntary |
50% |
|
|
Maturity Benefit |
Compulsory |
100% |
|
|
Maturity Bonus |
Compulsory |
2% |
|
|
Accidental Death Benefit |
Compulsory |
200% |
|
|
Hospitalization Benefit |
Voluntary |
30-150 cedis daily options |
Waiting period:
|
Insured |
Benefit |
Waiting period |
|
Subscriber (Main Life)
|
Death |
12 Months |
|
Total Permanent Disability |
No waiting period |
|
|
Critical Illness |
No waiting period |
|
|
Maturity Benefit |
No waiting period |
|
|
Maturity Bonus |
12 months |
|
|
Accidental Death Benefit |
12 months |
|
|
Hospitalization Benefit |
6 Months- Unless hospitalization is due to accident |
Withdrawal:
No withdrawal allowed on policy
Lapse Rule: The policy will lapse if 4 consecutive or 12 non-consecutive premiums have been missed. All missed premiums will be deducted at claims stage.
Lapse and Reinstatement Rule: The policy can be reinstated when all outstanding premiums are paid within 12 months of lapse. If a policyholder chooses to reinstate their lapsed policy, all waiting periods will re-apply
Surrender: Policy can only be surrendered without charges after 60 months; pre-mature surrenders attract a charge as follows:
|
Year |
Surrender Charge |
|
Year 1 and 2 |
100% |
|
Year 3 |
50% |
|
Year 4 |
25% |
|
Year 5+ |
0% |
FAMILY LIFE PROTECTION PLAN
Policy Terms and Conditions
|
Insured |
Minimum Sum Assured (GHs) |
Maximum Sum Assured (GHs) |
Minimum Entry Age |
Maximum Age |
Benefit % |
|
Subscriber – Main Life |
5,000.00 |
100,000 |
18 |
59 |
100% |
|
Spouse |
5,000.00 |
100,000 |
18 |
59 |
100% |
|
Parents/Parents-in-laws |
2,500.00 |
50,000 |
35 |
75 |
50% |
|
Children |
1,250.00 |
25,000 |
0 |
18 |
125% |
LIFE COVERED UNDER THE POLICY FOR DEATH
This policy covers a maximum of six (6) for family package and can cover a single main life as well.
Benefits:
|
Benefit |
Compulsory/Voluntary |
|
Death |
Compulsory |
|
Death (Family) |
Voluntary |
|
Critical Illness |
Voluntary |
|
Refreshment Benefit |
Compulsory |
|
Premium Waiver – family package |
Compulsory |
|
Redundancy Benefit |
Voluntary |
Refreshment Benefits:
|
Benefit |
Compulsory/Voluntary |
|
GHs 5, 000 – GHs 25,000 |
GHs 2, 000 |
|
GHs 30, 000 – GHs 50,000 |
GHs 3, 000 |
|
GHs 55, 000 – GHs 75,000 |
GHs 4, 000 |
|
GHs 80, 000 – GHs 100,000 |
GHs 5, 000 |
|
GHs 5, 000 – GHs 25,000 |
GHs 2, 000 |
|
GHs 30, 000 – GHs 50,000 |
GHs 3, 000 |
Waiting period:
|
Benefit |
Waiting period |
|
Death (Main Life) |
6 months |
|
Death (Family) |
12 months |
|
Critical Illness |
6 months |
|
Redundancy |
12 months |
Cessation of cover:
- Cover for all death benefits cease at 90 years old, or when the benefit is exhausted, whichever comes first for adult lives
- Cover for children is up to their 18th birthday, but this can be extended up to their 25th birthday if the child is a student or mentally disadvantaged
- The redundancy benefit ceases when the main member reaches retirement age which has been set at 60 years old
Withdrawal:
No withdrawal allowed on policy
Lapse Rule: The policy will lapse if 4 consecutive or 12 non-consecutive premiums have been missed. All missed premiums will be deducted at claims stage (If policy is active)
- Lapse and Reinstatement Rule: The policy can be reinstated when all outstanding premiums are paid within 12 months of lapse. If a policyholder chooses to reinstate their lapsed policy, all waiting periods will re-apply
- Surrender: Policy cannot be surrendered for cash value.
ROYAL INCOME PROTECTION PLAN
Policy Terms and Conditions
|
Insured |
Minimum Sum Assured (GHs) |
Maximum Sum Assured (GHs) |
Minimum Entry Age |
Maximum Entry Age |
Minimum Policy Term |
Maximum Policy Term |
|
Subscriber – Main Life |
10,000.00 |
100,000 |
18 |
55 |
10 years |
40 years |
LIFE COVERED UNDER THE POLICY FOR DEATH
This policy covers the subscribers and the premium payer only
Benefits:
|
Benefit |
Compulsory/Voluntary |
|
Death |
Compulsory |
|
Total Permanent Disability |
Compulsory |
|
Critical Illness |
Compulsory |
|
Maternity complications Benefit |
Optional |
|
Female-related Illnesses benefit |
Optional |
|
Cash Back Benefit |
Optional |
|
Hospitalization Benefit |
Optional |
Waiting period:
|
Indicator |
Waiting period |
|
Up to GHs30,000 Sum Assured |
3 months |
|
GHs31,000 – Ghs50,000 Sum Assured |
9 months |
|
Above Ghs50,000 Sum Assured |
12 months |
|
Accidental Death |
No waiting period |
|
Maternity complications |
6 months |
|
Female related illnesses |
3 months |
Withdrawal:
No withdrawal allowed on policy
Lapse Rule: The policy will lapse if 4 consecutive or 12 non-consecutive premiums have been missed. All missed premiums will be deducted at claims stage (If policy is active)
- Lapse and Reinstatement Rule: The policy can be reinstated when all outstanding premiums are paid within 12 months of lapse. If a policyholder chooses to reinstate their lapsed policy, all waiting periods will re-apply
- Surrender: Policy cannot be surrendered for cash value.