The CBG Funeral Finance Plan Unlimited is a funeral insurance plan designed to provide immediate cash pay out to cater for the cost of funeral expenses of  individuals and their families during times of loss and grief. The plan offers various benefits and features to ensure that funeral expenses are taken care of, easing the burden on loved ones during difficult times.

 The Policy pays out a lump sum ranging from GHS2,000 to GHS50,000 upon the death of Insured Lives. The exact pay-out depends on the Plan type that the Policyholder selects.

Target Group

Police tenure and premium refund : Policy can take for either 10 or 15 after which( if the covered life is alife),  the policy holder has the option to take a risk premium refund and continue or cancel the policy, keeping the  risk premium refund with the insurer and enjoying no premium payment till the covered life pases on.

 

No Age Limited: there are no age limits . One can insure any relative at any age.

 

The maximum number of lives to be covered under this plan is 16. This may include parents, step parents, in-laws, guardians , siblings etc

 

 Payment Frequency: monthly, quarterly, bi-annually, with a 10% discount for those who pay annually.

 

MAIN LIFE OFFERS:

 

AUTOMATIC BENEFITS

• Death waiver of premium: Pays premiums on behalf of remaining lives till the end of policy term at the death of the main life having registered at or below age 49 years

• Life Swap: Main life can take 50% of his cover for an uninsured life who passes away if life is in the same age bracket or younger. Main life serves 12 months waiting period after the swap and after that the sum assured reverts to the full sum assured. This is done once in the lifetime of the policy term.

 

OPTIONAL BENEFITS (THESE COME WITH PAYING EXTRA PREMIUMS)

• Double Accidental Cover: This pays 2x the sum assured when the main life dies through accidental means

• Personal Accident Cover: Provides cover for injuries sustained through accidental means. Cover ranges from GHS10000 – GHS50000 and payment is made based on what has happened with the aid of the PA scale. Cover ceases at age 60 years

• Hospitalization: Pays for policyholder being hospitalized for a minimum 3 days at a recognized medical facility. Payment options are GHS50, GHS80, GHS100, GHS120, GHS150

 

OFFERS WHETHER MAIN LIFE IS COVERED OR NOT:

AUTOMATIC BENEFITS (MAIN LIFE COVERED OR NOT)

• No lapse: Benefit is paid when the policy has lapsed (missed 4 consecutive premiums) and the customer losing a life assured up to 36 months. Premiums paid so far/Expected premiums x sum assured

• 2 months premium holiday: Clients will pay for 10 months instead of 12 months. Premiums are exempted in September

• Cash back: 5% of premiums paid annually provided no claims are made and policy has not lapsed.

• Surrender: 10% of the premiums is refunded less any policy fee and cash back received earlier and January

 

OPTIONAL BENEFITS (MAIN LIFE COVERED OR NOT)

• Cash bonus: Minimum premiums GHS5 and maximum is unlimited but should not be more than the risk premium. 50% withdrawal after 1 year and full withdrawals after 3years

• 1 year memorial: 50%of the sum assured is paid after 12 months. 70% of the (50%) is paid upon early request.

• 7 days: 30% of sum assured 40 days: 50% of sum assured

• Inflation Protector (Premium Updates): Allows to choose a % protector (5-30%) that allows you to increase your sum assured annually to meet time value of money

 

 

Underwritten by Enterprise Life