Family Love
Plan
Family Love Plan is a funeral product that is designed to provide financial protection to you and loved families to finance the cost of funeral expenses of your Family members.
About
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At Sanlam, we understand this and are here to support you by providing you financial plan to ensure that those that are left behind can celebrate a life well lived and to be able to continue with the plans and dreams the departed family member had for his/her loved ones.
The product is designed with options for the lower, middle and the affluent retail market segments. In essence, there is a plan for everyone in the market.
There are three benefit packages or Options:
- Inclusive Love Package
- Classic Love Package
- Prestige Love Package
Key Benefits
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Minimum cover of Ghc3,000 and maximum of GHc50,000 subject to minimum monthly premium of Ghc40.
10% of the selected funeral benefit is paid as repatriation expenses to enable policyholder or premium payer convey the mortal remains of all loved ones covered under the plan. Yes! the 10% is not deducted from the funeral benefit. This benefit is for Classic and Prestige Love packages.
30% of the selected funeral benefit is paid as one week celebration expenses. Yes! the 30% is not deducted from the funeral benefit. This benefit is for Classic and Prestige Love packages.
The plan provides payment of lump sum benefit equal to the cover amount selected based on the automatic inflation protector option at the time the claim occurred in the event of death of any life insured under this policy whilst the policy is active. Inclusive Love, Classic Love and Prestige Love packages enjoy this this cover/benefit.
The plan pays Ghs500 as income for the next six months to cushion the family at demise of the policyholder and spouse. This benefit is for Classic and Prestige Love packages.
Under the prestige package, 50% of the funeral benefit shall be paid as lump sum as 1st Anniversary Benefit in the event of death of a life insured under this plan.
This cover pays twice of a selected benefit if anyone covered by this policy dies through accident. This benefit is for Classic and Prestige Love packages.
Premium payment under this policy shall be waived and the policy converted to paid-up when the Policyholder being the principal life dies after the waiting period while the policy is active. This benefit is for all packages.
Premium payment under this policy shall be waived and the policy converted to paid-up when the principal life becomes permanently and totally disabled (as defined under this policy) while the policy is active. This benefit is for Classic and Prestige Love packages.
Premium payment under this policy shall be waived and the policy converted to paid-up when the principal life becomes retrenched (as defined under this policy) while the policy is active. This benefit is for Classic and Prestige Love packages
Enjoy no premium payments for January and September each year. Premium is waived for all funeral benefits for all lives assured while the policy is active. This benefit is for Prestige package.
The policy shall pay 10% of the paid funeral cover premiums for every 3 years where policy has been active and irrespective of claims made on the policy. Yes! Irrespective of Claims made on the policy. This benefit is for all Family love packages.
Packages
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I am Kwame, 45 years of age and would like to cover myself and loved family members including my spouse, child, parent and my uncle. If I chose Ghs10,000 cover, what will my total benefit and premium under Inclusive, Classic or Prestige Love be?
My Insured Family: Main Life (Kwame), Spouse (1), Parent (1), Extended Family, Uncle (1), Child (1)
Natural death benefit (Ghs 50,000)
Accidental death benefit, all lives (Ghs 50,000)
Cash back benefit irrespective of claim (1st 3yrs) (Ghs169.81)
Kwame enjoys cover for life at age 60 but pays no further premium
Premium payment waived on death of main life (premium payer)
Kwame’s cover will increase annually subject to 10% annual premium increase
Total Benefit - Ghs 100,169.8
Monthly Premium - Ghs 116.9
Natural death benefit (Ghs 50,000)
Double Accidental Death Benefit, all lives (Ghs 50,000).
Cash back benefit irrespective of claim (1st 3 years) (Ghs256.44)
Kwame enjoys cover for life at age 60 but pays no further premium
Premium payment waived on death, disability or retrenchment of main life (Premium payer)
6 months family income benefit on death of main life and spouse cover (Ghs6,000)
10% burial repatriation benefit (All lives covered Ghs5,000)
30% 1 week celebration (Exclude children Ghs12,000)
Kwame’s cover will increase annually subject to 10% annual premium increase)
Total Benefit - Ghs 123,256.4
Monthly Premium - Ghs 176.6
Natural death benefit (Ghs 50,000)
Double Accidental Death Benefit, all lives (Ghs 50,000)
Cash back benefit irrespective of claim (1st 3yrs)(Ghs358.44)
Kwame enjoys cover for life at age 60 but pays no further premium
Premium payment waived on death, disability or retrenchment of main life (Premium payer)
6 months family income benefit on death of main life and spouse cover (Ghs6,000)
10% burial repatriation benefit (All lives covered Ghs5,000)
30% 1 week celebration (Exclude children Ghs12,000)
2 months annual premium holiday
50% 1st anniversary benefit (Ghs25,000)
Kwame’s cover will increase annually subject to 10% annual premium increase
Total Benefit - Ghs 148,358.2
Monthly Premium - Ghs 296.0
KEY FEATURES
Other Key features
Automated Cover Increase
We care about the value of your benefits due to inflation. The Policy provides a standard 10% automatic inflation protector of the benefit selected from the effects from rising costs of living expenses i.e., inflation to the extent of the premium increase selected to preserve the value if the benefit payable under this policy at the time of claim.
Percentage | Percentage |
| 10% | Standard |
| 15% | 11.25% |
| 20% | 15.0% |
| 25% | 18.75% |
| 30% | 22.5% |
Savings
The Policy Owner/Premium Payer can opt to pay minimum of Ghs10 as additional premium monthly into a savings account linked to this policy.
How to claim
Claims made Easy
As a funeral policy to empower Families to show love to their loved ones when it matters most. The policy pays benefits in the event of death except the cashback benefits which is paid every 3 years.
Complete a claim form digitally by using the following links :