Ultimate Classic Farewell Plan – [Cloned #3299]

This plan is a life insurance solution offered by Prudential Life Insurance Ghana through CalBank. This plan assures you and your loved one’s protection against the financial pressures that comes with incurring financial expenses, as well as living expenses; even if you have a large family. There are non-financial benefits as well other optional benefits you can use to beef up your plan such that it pays you even more. In the first policy year, failure to pay premiums for 4 consecutive months from the due date will cause the policy to lapse and you will not be covered under for the policy stated benefits.

  • You can cover up to 19 lives on the policy which includes yourself (1), spouse (4), children (8) and extended family (6).
  • Main Life, spouse and extended family are covered till age 120 while children are covered up to age 25
  • Waiting period for All Lives Covered is 6 months.
  • Premiums can be paid monthly, quarterly, semi-annually or annually.
  • Premium is calculated based on your chosen Sum Assured and ages of all lives covered.
  • The policy is a whole life policy. Hence its tenor is till Main Life and lives covered attain age 120.
  • Death Benefit – A 100% of the chosen Sum assured for main life and spouse and 50% for other lives (14) each.
  • Sum Assured ranges between GHS10,000.00 to GHS20,000.00.
  • Accidental Death Benefit – We pay 2x the Sum Assured if death is caused by Accident (For All Lives Covered)
  • Waiver of Premium Benefit – If you purchase the policy before or on your attainment of age 50, you will no longer be required to pay premiums after age 60 or if death occurs prior to age 60, all other lives will remain covered till they drop of the policy.
  • Return of Premium Benefit – If any life dies within the waiting period (not as a result of an accident), we will return all premiums paid on the life of the deceased.
  • No Claim Cash Back – 12% of total premium paid will be given to the policy holder every 5 years interval if there is no claim
  • Never-Lapse Benefit – Policies beyond the first policy year will never lapse. However, at the claim stage, the death benefit will be pro-rated based on the number of paid premiums.
  • Voucher Benefits – talk time GHS 50 + Grocery Voucher on the death of each life
  • Loyalty Benefit – If all premiums had been paid for the last five (5) years before the demise of the main life, an additional 4% of the total premiums will be paid to the trustee
  • Family Cushion Benefit – An additional 5% of the total premiums paid by the main life will be paid to the trustee three (3) months after the demise of the main life.
  • Hospitalization Benefit – 4% of the sum assured will be paid once every calendar year if any of the insured lives is hospitalized for a consecutive period of at least three (3) days. This excludes hospitalization due to child birth.
  • Cash Investment (Optional Benefit)
  • Pre-Burial Benefit – 30% of chosen Sum Assured (Optional Benefit)
  • Post-Burial Benefit – 50% of chosen Sum Assured (Optional Benefit)

Annual Benefit Escalator – (0%, 5%, 10%, 15%, 20%, 25% or 30%) (Optional Benefit)

  • Main Life entry Age is 18 – 59 years

For sign up

  • A funded CalBank account
  • A completed policy application form
  • Your consent to go on cover now

 For Claim

  • A completed claim form.
  • Policy number (This will be issued to you upon first premium payment)
  • A legal document that authenticates the occurrence of the event for which the claim is being made (i.e. Medical cause of death or Death Certificate)
  • National ID of claimant and of deceased
 

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