1. Funeral Finance Plan +Plus

3. PRODUCT BENEFIT
Outline
DEFINITIONS
PREMIUM CALCULATION

4. Reality of Death

5. The pictures we are about to view is disturbing
The pictures we are about to view is disturbing . Viewers discretion is advised

6. TAMALE –KINTAMPO ,FEB 2016

7. REALITY OF DEATH

8. JUNE 3RD

9. TAMALE ROAD

10. Outline PRODUCT BENEFIT Burial Benefits
Accidental benefits (Double Sum Assured)
Family Support Benefit Payment (FSBP)
Cash Back
Claims for stillbirth
Cash Bonus
Waiver of Premium
Memorial Benefits
7 days pre-burial
40 day celebration
Outline

11. Burial Benefit Table FAMILY MEMBER Basic Funeral Package
Standard Funeral Package
Essential Funeral Package
Executive Funeral Package
Premier Funeral Package
Exclusive Funeral Package
Life Assured
7,500
10,000
15,000
20,000
25,000
30,000
Spouse
Children
3,750
5,000
12,500
Extended Family

12. ACCIDENTAL BENEFIT
(DOUBLE SUM ASSURED)
Where the Policyholder dies through an accident, the Policy will payout twice the sum assured to his or her beneficiaries.
This is applicable even where the accidental death is within the six (6) month waiting period from the inception of the Policy.
This benefit is not applicable to death resulting from non-accidental causes.

13. FAMILY SUPPORT BENEFIT PAYMENT (FSBP)
At the death of the Policyholder, the Policy will payout 5% of the sum assured, every month for six(6) months to the beneficiary until the full sum assured has been paid.
Where the beneficiary wants the six (6) months benefit to be paid in advance as lump sum, only 85% of the amount due will be paid and the remaining 15% will be forfeited.

14. CASH BACK
This benefit pays out 5% of the premiums paid each year if there has been no claim on the Policy during the year under consideration, and if the Policy is still in force. This is exclusive of the Policy fee of GHS ¢ O.50.

15. CLAIMS FOR STILLBIRTHS
Children are automatically covered from the 28th week of pregnancy and cover will be paid even if the child is stillborn.
An amount equal to 50% of the child's cover, for the plan selected, will be paid.
This will only be paid out if the Policyholder has no other children; only if those children are covered.

16. Waiver Of Premium
lf any family members are covered under the Policy and the Policyholder dies before the Policy anniversary preceding the 65th birthday, all premium payments would be waived for other lives covered under the Policy.
All automatic premium updates will stop at the date of death.

17. Waiver Of Premium cont.
This benefit will not be payable if the Policyholder was above age fifty-four (54) at the start of the policy.
Same applies to a memorial cover benefit

18. OPTIONAL ADD ONS

19. Cash Bonus
The minimum premium is GHS¢50 and the maximum premium is GH¢ 2OO. The Policyholder can withdraw from the Policy after the 1st year and maximum allowable withdrawal amount is 50%.
Full withdrawal can be made after three (3) years and when this occurs, premium payments into the fund can continue.

20. Cash Bonus cont.
The Policyholder has the option to stop the contribution into the fund after any such full withdrawals.

21. Memorial Benefits
Memorial cover benefits (when applicable)

22. 7 Days Pre-burial 30% of the total sum assured would be
payable if Policyholder opts for this benefit.
Payment would be made after Enterprise Life has confirmed death of the life covered.

23. 40 Day Celebration 50% of total sum assured would be made
payable if Policyholder opts for this benefit. Payment would be made after Enterprise Life has confirmed death of the life covered.

24. COFFEE BREAK

25. WELCOME BACK
PRODUCT BENEFIT
Outline
DEFINITIONS
PREMIUM CALCULATION

26. Outline PRODUCT FEATURES Inflation protector Waiting period
Number of lives and Ages at Entry
Outline

27. Inflation Protector
When the Policy reaches an anniversary date, the premium, excluding the Policy fee, will increase by the percentage selected by the Policyholder at the inception of the Policy. The Policy lists the agreed percentage increase.

28. The Policyholder must choose the lives to be covered on this Policy from the table above A life cover for a child will cease to apply when the child attains 21 years. The child's portion of the premium will be converted into a cash bonus and pald.to the Policyholder (or to the child)

30. You do not need to confirm this increase, it happens automatically
You do not need to confirm this increase, it happens automatically. Once the option is exercised, these increases can be reduced but not increased during the lifetime of the Policy. Premium increases may be cancelled by writing to the company.

31. 2.WAITING PERIOD
There's a six months waiting period for all Lives Assured before they can I benefit from the sum assured when the person dies of natural causes. But if death from natural causes ,occurs within the waiting period of these natural fifty (50%) of the premiums paid in respect of that life refundable to the Policyholder.

32. This excludes Policy fee of GH¢0. 50
This excludes Policy fee of GH¢ If any lives are added after Policy inception the waiting period for that life will be 12 months and there will not be any refund of premiums. Examples of natural death are illness, stroke, heart attack, etc.

33. AGE AT ENTRY

34. COFFEE BREAK

35. WELCOME BACK
PRODUCT BENEFIT
Outline
DEFINITIONS
PREMIUM CALCULATION

36. Outline GENERAL PROVISIONS Misstatement of Age Restrictions Risk Date
Premium Payment
Lapse rule
Notification
Incontestability clause
Maturity and surrender values
Amendment
Trustee
Outline

37. 1. MISSTATEMENT OF AGE
If the age of any of the Lives Assured is incorrect any benefit that becomes payable will be recalculated. This condition is not applicable to ages outside the entry age limits. Benefits are not payable if the actual age of any life assured is not within the age limit at entry.
The act payable on the death of the Policyholder and Lives Assured covered Will be the initial burial cover selected, plus all cover increases as a result of the automatic premium update facility where applicable.

38. 2. RESTRICTIONS
Burial benefits payments are subject to a waiting period from the day after the acceptance of the Policy, and also subject to premium payment at the premium expected date stated in your acceptance notification. During this period only claims arising as a result of an accident will be paid. A waiting period is applicable in the event of a reinstatement of a lapsed Policy, and when any new family members are added to the Policy. Burial cover benefits will cease if the Policy lapses or if the full benefit is paid out.

39. 3. RISK DATE
The Policy will commence a day after acceptance and is subject to payment of premium within the first six months of acceptance. All benefits on the Policy become payable after a six (6) month waiting period with exception of accidental death benefit, which is payable within the waiting period. However, when the first and subsequent premiums are paid six (6) months after the acceptance date, benefits may become payable six (6) months after receipt of the premium

40. 4. PREMIUM PAYMENTS
Unless otherwise stated in the Policy, premiums are payable to Enterprise Life
monthly in advance on or before the first day of each calendar month until:
Enterprise Life admits a death or waiver claim on the Policyholder; or
The Policy is cancelled
The funeral cover benefits and other benefits under the Policy are based on
the assumption that these premiums will be paid regularly and the onus is on
the Policyholder to ensure that the monthly premiums due reach the 'company
as and when they are due.

41. LAPSE RULE When a policy goes into PAYMENT-LAPSED
(i.e. misses 4 months consecutive payments).
1. The policy can be reinstated with 1(one) month FULL premium
2. The policy should go through a six (6) month waiting period after paying the FULL premium and this should be the case after every reinstatement.

42. When a policy goes into PAYMENT-LAPSED
LAPSE RULE
When a policy goes into PAYMENT-LAPSED
(i.e. misses 4 months consecutive payments).
3. Premiums after the lapsed date should not accrue as debt on the policy, however all debt before the lapsed date still remains payable.
4. Any outstanding on client policy should be deducted at the point of claim however deduction should ONLY be done on the individual life and not the entire sum assured for clients who have 12 months or more premium misses.

43. LAPSE RULE cont. LAPSE REINSTATEMENT
After lapsing, the Policyholder can reinstate the Policy within three (3) calendar years from the lapsed date based on the following conditions:
Reinstatement within One (1) year of lapse –
6 months waiting period.
Reinstatement after One (1) year of lapse -
12 months waiting period.

44. LAPSE RULE cont. Also note:
A. The Policy once reinstated will be restored to the premium and benefit status it was in the day before it went into lapse.
Also note:
12 month intermittent missed premiums have been taken off our lapse rule.
Please do not hesitate to contact SM - Technical if you need further clarification on the new rule.

45. 6. NOTIFICATION
It is advisable to notify Enterprise Life of any death claim within one (1) year of the occurrence of the event to enable prompt claim payment. Delay in notification is likely to cause delay in claim payment. This will also apply to additional documents deemed necessary for the assessment of the risk by Enterprise Life before a claim can be finalized. Should Enterprise Life reject or decline any claim, the beneficiaries will be duly informed and such claim will lapse and be of no force or effect unless an action has been started against Enterprise Life within two years of the claim arising,

46. 7. INCONTESTABILITY CLAUSE
The provision should limit the time during which Enterprise Life may contest the validity of the insurance contract on the grounds of a material misrepresentation in the application/proposal for insurance to three (3)years. A material misrepresentation in an application for life insurance is a misrepresentation that is relevant to the insurer's evaluation of the proposed insured. The misrepresentation is material when, if the truth had been known, the insurer would not have issued the Policy or would have issued the Policy on a different basis, such as a higher premium or a lower sum assured.

47. 8. MATURITY AND SURRENDER VALUES
This Policy does not offer any maturity, surrender or expiry value.

48. 9. AMENDMENTS
Enterprise Life must be advised in writing of any change of Nominated Lives Assured or of any additional relative of the Policyholder to be added, Any deletion of a nominated life or appointment of a Trustee must be brought to the notice of the Insurer in like manner.

49. 10. CONDITIONS APPLICABLE TO ALL POLICY BENEFITS
Premium payments for a person who has died will, be put in the cash bonus account (investment Account), where applicable if this account does not exist already one will be set up for this purpose. The Policyholder may make withdrawals on written application to Enterprise Life subject to
The Cash Bonus account existing for more than 12 months
A maximum of 50% withdrawal after the first year and full withdraw after three (3) years of the cash bonus account.
The benefit payable will be subject to a deduction of any indebtedness to the company.
The company reserves the right to adjust the policy fee, annually with approval from the Commission, if the circumstances so demand.
Maximum number of funeral policies.

50. 11. EXCLUSIONS
The company will not recognize any claim occasioned or accelerated by any of
the following causes:
Suicide, attempted suicide or any self-inflicted injury within 2 years,
whether the Policyholder is sane or insane at the time
Any act committed by the Policyholder which constitutes a violation of criminal law;
Excessive use of alcohol, willful inhalation of gas, willful exposure to radioactivity or the willful taking of poison or drugs (except as prescribed by a medical practitioner) resulting in the death of the Policyholder
Any act of war, military action, terrorist activities (whether war be declared or not), riots, strikes, civil commotion or insurrection, in all cases whether as -an active participant or not;
Active participation in mountaineering, horse riding, motor cycle racing, hunting, fighting(except in self-defence) any speed contest other than a speed contest on foot
Participation in any form of aviation other than as a fare-paying passenger on a scheduled air service over an established passenger route;
Military service or training in the armed forces of any country and for this purpose “military service” includes army, naval and air force service

51. 12.TRUSTEE
The Policyholder may by notifying the company in writing, appoint, change or cancel the appointment of a Trustee at any time. Trustees receive the proceeds of the Policy in respect of a claim arising from the death of the Policyholder under the Policy where the beneficiary (ies) is a minor. The appointment of a new Trustee will automatically cancel the prior appointment of a Trustee. The appointment of a Trustee will be ineffective if the said Trustee dies before the Policyholder. If the Policyholder fails after lapsing, or after the cancellation of the appointment of a Trustee to appoint a new Trustee, the proceeds of the Policy will be payable to the estate of the Policyholder.

52. Trustee cont.
No provision in any Will and Last Testament executed by the Policyholder will have the effect of cancelling the appointment of a Trustee. The Trustee can access the Policy only after the death of the Policyholder.

53. 13. BENEFICIARY
Enterprise Life will pay the benefit from this Policy to the Policyholder, or in the event that the Policyholder dies, to the nominated beneficiary. If that person is a minor, the benefit will be paid to the nominated Trustee, In the event that the beneficiary/ies or Trustees cannot be found, Enterprise Life will pay the benefit to the estate of the Policyholder. The appointment of a beneficiary will be invalid if his or her death occurs before that of the Policyholder. If the Policyholder fails to appoint after such incident or after the cancellation of the appointment of a beneficiary to appoint a new beneficiary, the benefit of the Policy will be payable to the estate of the Policyholder.

54. 13. BENEFICIARY cont.
No provision in any Will and Last Testament executed by the Policyholder will have the effect of cancelling the appointment of a beneficiary or of appointing a new beneficiary. The beneficiary can exercise rights to this Policy only when the Policyholder is dead.

55. 14. RESIDENCE AND TRAVEL
No restrictions apply as far as travel or occupation is concerned. However at the time of taking out the policy all Lives Assured must be resident in the Republic of Ghana. No life cover will be paid for any Policyholder, who is a permanent resident in a foreign country. This provision may be waived at the sole discretion of the Company.

56. 15. ASSIGNMENTS
Benefits under this Policy cannot be assigned as collateral security and the Company accepts no responsibility arising from a private treaty or any other arrangement. Loans are also not allowed under this Policy.

57. 16. COMMUNICATION
The Policyholder may only regard communications with Enterprise Life as received if sent by hand, mail, post, through s or any electronic platform as advertised, acknowledged in writing or delivered in physically to the office of Enterprise Life.

58. 17. RIGHT TO REVIEW/CANCELLATION
The Policyholder has the right to review and cancel this Policy within 30 days From the Acceptance Date and receive all premiums paid, provided that no benefit has yet been paid or claimed or an insured event occurred. This cancellation must be communicated in terms-of paragraph 16 above by the Policyholder. After completion of the 30-day, period mentioned above, the Policyholder may give notice in writing to Enterprise Life to cancel the Policy. The cover will cease on the date of cancellation. Cancellation of the Policy leads to the loss of benefits and all premiums paid before cancellation but any premiums paid after Enterprise Life receives notice of cancellation will be refunded.

59. 8. CLAIMS SETTLEMENT
When a claim event occurs, the following is required to process the claim: I. The Policy Terms and Conditions as issued II. A properly completed claim form III. Proof of the occurrence of the covered event for which the benefit is claimed, the legal entitlement of the claimant(s) to receive the benefit. and evidence of the age of the Policyholder. . IV. All assignments, beneficiary appointments and cancellations thereof where applicable

60. 8. CLAIMS SETTLEMENT
VI. Medical report or any relevant documents/reports, which Enterprise deems necessary to assess the claim. Enterprise Life reserves the right to put off paying a claim covered under this Policy until all requirements, as specified by Enterprise Life, have been met Enterprise Life reserves the right to put of paying a claim covered under this policy until all requirements, as specified by Enterprise Life, have been met.

61. COFFEE BREAK

62. WELCOME BACK
PRODUCT BENEFIT
Outline
DEFINITIONS
PREMIUM CALCULATION

63. Outline DEFINITIONS Accidental death Lapse Inception Child Spouse
Siblings
Parents
Step Parent
Guardian
Grandparent
Grandchild
Trustee
Stillbirth
Outline

64. 9. DEFINITIONS
Accidental Death - bodily injury caused solely and directly by violent, external, accidental and visible means which injury was the sole cause of the Policyholder's death", all other causes of death relating to illness, disease or the ageing process, shall be deemed to be caused by natural causes. Inception - These are new Policies in request of which the first premium has been paid. Inception date is therefore the date from which, under the terms of a Policy, an insurer is deemed to be at risk. Lapse - A Policy with no benefit clue to non-payment of premiums

65. 9. DEFINITIONS
Child - means one of the children of the Policyholder and/or nominated spouse (including an adopted child, or a step-child who is unmarried and under the age of 21). Enterprise Life must be notified in writing of a birth or adoption of an additional child of the Policyholder. In the case of adoption, a certified copy of the court order for adoption must be produced.

66. DEFINITIONS cont.
Spouse - means the person to whom the Policyholder is legally married or with whom the Policyholder has an agreement recognized as a marriage in accordance with some law or custom in Ghana and who cohabits with the Policyholder as if married. Enterprise Life must be advised in writing of any change of nominated spouse. An additional spouse could be added under the extended family.

67. DEFINITIONS cont.
Siblings - means children from one or both parents of the Policyholder Parents - means biological parents of the Policyholder or those of his/her spouse. Step Parent - Means the spouse of the biological parent of the Policyholder whose marriage is recognized in accordance with some law or custom and who cohabits with the parent of the Policyholder.

68. DEFINITIONS cont.
Guardian - means an adult custodian to whom the Policyholder has been effectively entrusted. Grandparent - means the biological parents of the Policyholder's biological Parent.

69. DEFINITIONS cont.
Trustee- a person named by the Policyholder to administer the policy in the event of death, claims notification and payment is administered by the Trustee for the benefit of beneficiaries.

70. DEFINITIONS cont.
Stillbirth- the birth of an infant that has died in the womb (strictly, after having survived through at least the first 28 weeks of pregnancy, earlier instances being regarded as abortion or miscarriage).

71. COFFEE BREAK

72. WELCOME BACK
PRODUCT BENEFIT
Outline
DEFINITIONS
PREMIUM CALCULATION

73. Sample questions
Auntie Maggie wants the FFP Plus under the Executive Funeral Package. She is 26 years and wants to cover the husband 31 years, mother 33years , father In-law 42 years, Children Akuba and Asiedua whose ages are 19 and 20 years respectively. She also wants a memorial cover, 7 days and 40 days celebration benefits and a cash bonus of GH¢70.

74. Calculate Her total monthly premium.
The benefits if she dies within six months of the inceptions.
How much will be paid if Asiedua dies two years after the policy inceptions.
(i) How much will be paid if the Father In-law dies eleven(11) years after the policy inception.
(ii)With reference to the amount paid, what advise will you give to Auntie Maggie as to what she should do when buying FFP plus next time?

75. a) Main Benefit 1.Main Life Rates Age Band(L) Age Band (U) 7,500
10,000
15,000
20,000
25,000
30,000 18 25
13.85
16.50
21.90
27.25
32.60
38.00 26 30
15.65
18.90
25.50
32.05
38.60
45.15 31 35
17.15
20.90
28.45
36.00
43.55
51.05 36 40
18.85
23.20
31.85
40.55
49.25
57.90 41 45
21.60
26.85
37.30
47.75
58.20
68.65 46 50
26.60
33.45
47.10
60.75
74.45
88.10 51 55
35.00
44.60
63.70
82.80
101.95
121.05 56 59
46.70
60.10
86.80
113.50
140.30
167.05

76. 2. Spouse Rates
Age Band(L)
Age Band (U)
7,500
10,000
15,000
20,000
25,000
30,000 18 25
3.50
4.35
6.00
7.70
9.35
11.05 26 30
4.90
6.20
8.80
11.40
14.00
16.60 31 35
6.05
11.10
14.45
17.80
21.15 36 40
7.40
9.50
13.75
18.00
22.30
26.55 41 45
12.30
23.65
29.30
35.00 46 50
13.30
17.35
25.50
33.70
41.85
50.05 51 55
19.75
26.00
38.45
50.95
63.40
75.90 56 59
28.75
37.95
56.40
74.80
93.20
111.65

77. 3. Children Rates
Age Band(L)
Age Band (U)
3,750
5,000
7,500
10,000
12,500
15,000 1 15
1.55
1.85
2.45
3.10
3.70
4.30 16 21
4.40
5.75
7.05
8.40
9.75

78. 4.Parents and Wider Family
Age Band(L)
Age Band (U)
3,750
5,000
7,500
10,000
12,500
15,000 1 15
3.45
3.80
4.50
5.25
5.95
6.65 16 25
3.85
4.45
5.45
6.50
7.50
8.50 26 30
4.60
5.65
7.25
8.90
10.55
12.15 31 35
6.60
8.70
10.80
12.90
15.00 36 40
6.05
7.70
10.35
13.00
15.65
18.25 41 45
7.35
9.35
12.80
16.25
19.70
23.20 46 50
9.40
11.95
16.70
21.45
26.20
30.95 51 55
12.55
16.00
22.75
29.50
36.30
43.05 56 60
17.45
22.40
32.35
42.25
52.20
62.15 61 65
25.20
32.70
47.75
62.80
77.90
92.95 66 70
37.45
49.05
72.25
95.40
118.60
141.80 71 74
51.05
67.15
99.35
131.55
163.80
196.05

79. b) Memorial Benefits 1.Main Life Rates Age Band(L) Age Band (U) 3,750
5,000
7,500
10,000
12,500
15,000 18 25
1.50
2.00
2.95
3.95
4.90
5.90 26 30
2.30
3.05
4.55
6.05
7.60
9.10 31 35
7.85
9.80
11.75 36 40
3.75
4.95
7.45
9.90
12.35
14.85 41 45
6.55
9.85
13.10
16.40
19.65 46 50
7.00
9.30
13.90
18.55
23.20
27.85 51 55
10.70
14.25
21.40
28.50
35.60
42.75 56 59
15.90
21.20
31.75
42.35
52.95
63.55

80. 2.Spouse Rates 1 2 3 4 5 6
Age Band(L)
Age Band (U)
3,750
5,000
7,500
10,000
12,500
15,000 18 25
1.50
2.00
2.95
3.95
4.90
5.90 26 30
2.30
3.05
4.55
6.05
7.55
9.10 31 35
3.90
5.85
7.80
9.75
11.70 36 40
3.70
4.95
7.40
9.90
12.35
14.80 41 45
6.55
9.80
13.10
16.35
19.60 46 50
6.95
9.25
13.90
18.50
23.15
27.75 51 55
10.65
14.20
21.30
28.40
35.50
42.60 56 59
15.85
21.10
31.60
42.15
52.70
63.20

81. 3. Children Rates 1 2 3 4 5 6
Age Band(L)
Age Band (U)
1,875
2,500
3,750
5,000
6,250
7,500 15
0.50
0.65
0.95
1.25
1.55
1.85 16 21
0.40
0.75
1.00
1.50

82. 4.Parents and Wider Family
Cover Level (in GHC)
Age Band(L)
Age Band (U)
1,875
2,500
3,750
5,000
6,250
7,500 1 15
0.65
0.85
1.25
1.65
2.10
2.50 16 25
0.90
1.20
1.80
2.40
3.00
3.60 26 30
1.45
1.90
2.85
3.80
4.75
5.70 31 35
1.85
2.45
3.70
4.90
6.10
7.35 36 40
2.35
3.10
4.60
6.15
7.70
9.25 41 45
3.05
4.05
6.05
8.05
10.05
12.10 46 50
4.15
5.55
8.30
11.05
13.80
16.60 51 55
5.90
7.85
11.80
15.70
19.65
23.60 56 60
8.65
11.50
17.30
23.00
28.80
34.55 61 65
13.05
17.35
26.05
34.70
43.40
52.05 66 70
20.45
29.10
43.65
58.20
72.70
87.25 71 74
29.90
52.40
78.60
104.85
131.05
157.25