Our CAL Bank Classic Farewell Plan is a plan that allows you to insure you and your loved ones ranging from GHS3,000 to GHS15,000.
Features of CAL Bank Classic Farewell Plan
· Maximum entry age is 59 years.
· Parents up to 74 years can also be covered.
· Option to cover spouses, children, parents/parents-in-law and extended family members.
· Cover level for you and your spouse is 100% of the sum assured, and 50% for all other insured lives.
· Option to choose cover level / sum assured ranging from GHS3,000 to GHS15,000.
Benefits of CAL Bank Classic Farewell Plan
· Death Benefit: A lump sum payment equal to the sum assured will be paid to you in the event that any of the covered lives is deceased.
· Loyalty Benefit: If the policy is in force for at least five (5) years and you pass on, an additional 4% of the total premiums will be paid to your beneficiaries.
· No claim cash back: A sum of 12% of total premiums paid would be refunded to you every five (5) consecutive years so long as the policy is active and no claim has been made.
• Accidental Benefit: In the event that you pass on through an accident, a lump sum, twice the sum assured will be paid to your beneficiaries.
• Family Cushion Benefit: In the event that you pass on, an additional 5% of the total premiums paid will be disbursed to your beneficiaries three (3) months after your demise. There is also an option for the beneficiary to be paid in advance at a 30% discount rate.
· Hospitalization Benefit: You are entitled to 4% of the sum assured once every calendar year if you are hospitalized in a health facility recognised by the Ministry of Health (MoH) for a consecutive period of at least three (3) days. This excludes childbirth.
- Waiver of Premium Benefit: You will no longer pay premium if death should occur prematurely or on attainment of age 65. However, all the insured lives are still entitled to their benefit under the policy. The waiver of premium benefit applies only if you were aged between 18 and 54 at the time you took the policy.