Enterprise Life Assurance Company Limited currently offers about 10 Life Insurance Products in Ghana; which includes the Group Funeral Plan.
The objective of this plan is to insure the obligations of the employer in the unlikely event of an employee’s death.
Most conditions of employment as well as tradition require and impose financial obligations on the employer in the event of an employee’s death. This includes provision of coffin, donation to family, transport arrangement and refreshment for other staff members. This obligation can be insured under the Group Funeral Plan.
The plan provides for the payment of funeral and related expenses on behalf of the employer in the event of an employee’s death.
The benefits can be extended to cover parents, spouses and children.
Benefits levels shall be objectively determined to reflect the expected financial obligation of the employer.
Premiums are relatively low and depend on the average age of the group and number of employees to be covered.
Medical examinations shall not be required.
These are top ups that one can take in addition to the main policy one of which is the Personal Accident.
Personal Accident has three main components. These are
- Permanent Disability Cover: This seeks to provide the payment of a lump sum in the event of a covered member being permanently disabled as a result of an accident. The extent of the incapacitation is determined by a medical doctor and thus the payment is made on a pre-determined agreed scale of incapacitation.
- Temporary Disability Cover: This also seeks to provide the payment of a weekly benefit up to a maximum of 52 weeks as a result of temporary disablement resulting from an accident. The maximum weekly benefit payable is the actual income of the person before the incapacitation.
- Medical Expenses Cover: This provides cover for medical expenses arising out of an accident up to a maximum pre-determined figure.
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