Our CAL Bank Premier Farewell Plan allows you the flexibility to insure you and your loved ones ranging from GHS20,000 to GHS50,000.
Features of CAL Bank Premier 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.
· Cover level for you and your spouse is 100% of the Sum Assured, and 50% for all other insured lives.
· You have the option to choose Cover level / Sum Assured ranging from GHS20,000 to GHS50,000.
Benefits of CAL Bank Premier 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.
- 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.
- Return of Premium: If any of the covered lives die during the waiting period and the policy is active, the total premium paid on behalf of this life will be refunded less the policy fee.
· Pre-Burial Benefit: On the death of any of the insured lives, a lump sum which is 30% of the sum assured will be paid before the burial of the deceased.
· Post Burial Benefit: Twelve (12) months after the death of any of the insured lives under the policy, 50% of the sum assured will be paid. If the policy is cancelled before this benefit is paid, a reduced benefit will be paid.
· Cash Investment (Optional Benefit): This is an additional investment feature on the policy which allows you to save. The minimum contribution is GHS20 and a maximum of GHS50. Withdrawals are allowed under this benefit only after the first year up to the sum of 50% of the accumulated fund. After the third year, you have the option to stop contribution to the fund and withdraw the proceeds whiles premium payments continue. Nonetheless, you have the option to stop the contribution into the fund after full withdrawal from the account.