Enterprise Life Assurance Company Limited – Lady Care Plan

Enterprise Life Assurance Company Limited currently offers about 10 Life Insurance Products in Ghana; which includes the Ladycare Plan.

The Ladycare plan is an all female related term assurance product. The product will offer cover for Death, Total Permanent Disability (TPR), Critical Illness (CI), Hospitalization, Maternity Complications and other Female Related Illness.

How does the plan Work?
The plan will attract a lump sum payment of the sum assured if you suffer any of the insured invents.

How much will the plan pay out?
The benefit payment are based on the following structure:

  • Death and Total Permanent Disability ( TPD)

Under the plan, these events when they occur will attract a lump sum payment of the sum assured.

  • Critical Illness Benefit (CI)

Benefit payment on this event will be based on the approved percentages of the sum assured for each illness covered.

  • Hospitalization Benefits

This will attract a fixed amount payable per day to the life assured after a minimum period of three   (3)days stay in hospital. This implies that benefits will not be payable if the life assured is hospitalized for a period less than 3 days. However once the minimum of 3 days has been exceeded benefit payments will commerce from day one.
Hospitalization benefits will be limited to a maximum period of 30 days per calendar year.

  • Maternity Complications

These will payout a lump sum benefit once the insured event has occurred on a graded basis.

  • Female –Related Illness

A lump sum equal to the sum assured will become payable upon the occurrence of the named event.

  • Cash Back

Ten percent of all premiums paid become automatically payable every 5 years if policy holder    does  not make any claim within those 5 years of the policy. Your policy must be active during this period and all premiums paid.

Who can the plan cover?
The plan covers only females between the ages of 18 to 60. Cover ceases at age 65.

Can I increase my premiums and benefits anytime I want to do so?
No, you can not increase your premium and benefit once you choose your plan. However you have an option to increase your premium and your benefit automatically on every anniversary year. This will be on compound basis. If the option is not exercise at the inception of the policy it cannot be exercised later.

When will my cover start?
Enterprise Life will go on cover once the first premium has been received.

How long will the plan last?
The duration of the plan depends on the term you choose. However if you are at age 60 the maximum term you can choose is 5 years.
Minimum term is 5 years
maximum term is 15 years.

How do I make a claim?
All claims should be reported at any ELAC or Standard Chartered Branch offices. The documents required are spelt out in the policy conditions folder. See Section F.

When will the plan not pay out?
ELAC will not pay a claim if:

  • You do not truthfully provide all the information we ask for on your application form.
  • The plan is in the waiting period. See section C in the policy term and conditions folder.
  • The plan has ceased due to non-payment of premiums or surrender
  • If death is as a result of an exclusion. See policy terms conditions folder Section D.K.

What happens when I die?
Your nominated trustee will make a claim on your life.

How do I get cover?
You must do the following:

  • Give us all the information we ask for in the application process.

Pay the required premium every month through your bank.

 

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