Family Protection Plan
One of the first social identifications of every individual is belonging to a family. We pick up so many attributes including our first lessons in life from the family. Thus, the family plays a very important role in our lives and as such its interest needs to be safeguarded.
Unfortunately, the “life” of a family is taken away with the demise of the breadwinner. This is where the StarLife Family Protection Policy steps in to ensure that in the absence of the breadwinner the Family continues to enjoy life.
WHAT IS THE FAMILY PROTECTION POLICY
The StarLife Family Protection Plan is a unique renewable term life assurance policy designed to provide peace of mind and cash benefits to the families of breadwinners and their spouses against death and total and permanent disability.
HOW TO ENJOY THIS POLICY
In providing protection for your family, you should meet the following basic requirements:
- A minimum of GH¢20.00 a month to start with;
- Should be 18 years or above but not over 55 years;
- Evidence of health may be required
MAIN POLICY BENEFITS
- Death /Total and Permanent Disability Benefit
A lump sum payment equal to the sum assured as stated in the Policy Schedule will be paid to your beneficiaries or yourself in the event of death or total and permanent disability respectively.
- Critical Illness/Dread Disease
A lump sum payment equal to the sum assured as stated in the Policy Schedule will be paid to you in the event of critical illness or dread disease
- Waiver of Premium
No premium is expected from the policy holder after age 60 but policy will remain in force till the policyholder attains age 75; all benefits will cease after this. StarLife will cover the policyholder for free for 15 years.
- Cash Back
A cash bonus of 25% of third year annual premiums paid will be payable to the policyholder every three consecutive years if no claim has been made
- Spousal Death Benefit- A lump sum payment equal to the sum assured as stated in the Policy Schedule will be paid to you in the event of death of your spouse
- Retrenchment – A lump sum payment equal to the sum assured as stated in the Policy Schedule will be paid to you
- Child Disability Benefit- Compensation is paid to the policyholder in the event of that any of your children gets totally and permanently disabled
- Waiver of Premium on Death of Policyholder-After the death of the policyholder, the policy will still be in force for his/her spouse and child(ren) .Benefits will cease when the spouse attains age 75 years
The table below summarizes the benefit structure applied under various product options
|BENEFIT||COVER (GH¢) – A||COVER (GH¢) – B||COVER (GH¢) – C|
- Prompt payment of all legitimate claims;
- Assured of speed and excellent Customer service support
StarLife Family Protection Policy….Providing for you and your Family.