Featured Product


GHANA LIFE

Master Plan Policy

Overview

This is an investment plan that guarantees the extra security of life insurance over. The policy is designed to afford the policyholder the benefit of receiving part of the sum assured by instalments before maturity date.

In the event of death within the duration of the policy, the full sum assured would be paid without deducting the instalments earlier paid to the policyholder.

It is therefore a “double, triple or quadruple action plan” depending on the choice of the proposer. The insured does not wait till maturity before enjoying from the cover. There is an option of leaving the partial payments to the company for a reviewable interest currently set at 7% per annum.

Benefits

    • Periodic cash payments payable at an interval of 3 or 5 years.
    • Guaranteed full death benefit irrespective of periodic cash payments made with accrued bonuses to nominated beneficiary(ies) or the legal representative(s) of the deceased.

Structure of periodic cash payments

  • For a 6 or 10 years plan, 25% of the guaranteed sum assured is payable at the end of half of the policy term and 75% at the end of the policy term. This is the double-action plan.
  • For a 9 or 15 years plan, 25% of the guaranteed sum assured is payable at the end of one-third of the policy term, 25% at the end of two-thirds of the policy term and 50% at the end of the policy term. This is the triple-action plan.
  • For a 12 or 20 years plan, 25% of the guaranteed sum assured is payable at the end of one-quarter of the policy term, 25% at the end of half of the policy term, 25% at the end of three-quarter of the policy term and 25% at the end of the policy term. This is the quadruple-action plan.