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Ultimate Life Plan
What does the ultimate life plan provide?
The policy provides the following:
A) Life cover: In the event of untimely death, the policy will pay out the Sum Assured or a higher amount of Death Benefit based on accumulations in your INVESTMENT ACCOUNT.
The INVESTMENT ACCOUNT will ensure:
• Rapid accumulation of funds through periodic savings;
• Attractive returns on savings;
• Hedge against inflation.
• Easy accessibility to loans.
NB: YOU CAN MAKE PARTIAL WITHDRAWALS from the accumulated account after TWO YEARS.
B) Personal accident cover: It provides financial compensation for death, or permanent disability or bodily injury through accidental means.
• Provides 24-hour protection daily;
• Prompt payment of the compensation in case of injury;
What is the minimum contribution that can be made?
Currently the minimum monthly contribution is Sixty-one Ghana cedis (GH¢61.00). But it would be advisable to consider higher values that will enhance accumulation in the investment account.
Furthermore, additional payments can be made at any time to accelerate the growth of the investment account.
How can I know the balance of my account?
On each anniversary of your policy, you will be provided with a STATEMENT OF ACCOUNT on request which will show, among other things, the Total Contributions, amount of Death Benefit, Cash Value and Interest accrued on the INVESTMENT ACCOUNT.
What happens when death occurs?
In the event of death from natural causes, the applicable Sum Assured or death benefit under the Policy will become payable to the named beneficiary.
The additional Sum Assured under the Personal Accident cover will be payable where death results from accidental causes.
How will the proceeds from the investment be paid?
The settlement option:
• A Lump Sum payment;
ULTIMATE LIFE PLAN: PLANNING TOWARDS OLD AGE OR RETIREMENT WITH THE POSSIBILITY OF ACCIDENTS IN MIND