The policy provides 5 annual benefit payments, during the last five years of the policy term, which is to be used to cover the education expenses of the policyholder's child.

HOW DOES THE PLAN WORK?
The policy pays five annual benefits. These are equal to the following percentage of the total fund value

WHO CAN THE PLAN COVER?
The life assured is the only member who can be covered and must be aged 18-60 years. However beneficiaries are nominated to benefit under the policy.

In the event of the policyholder dying, all future premiums are waived and covered by the insurer. There is a 6 month accident only waiting period on the waiver of premium benefit.

ARE THERE ANY AGE LIMITATION?
Yes. The minimum age to entry is 18, and the maximum age to entry is 60. Cover ceases at age 70. This limit also defines the maximum term available for each age e.g. for a 60 year old, the maximum cover term is 10 years.

If the age of any of the Life Assureds is incorrect any benefit that becomes payable will be recalculated. This condition is not applicable to ages outside 'age at inception' limits. Benefits payable would be repudiated if actual of any life assured is outside the 'age at inception' limit.

CAN I INCREASE MY PREMIUMS AND BENEFITS ANYTIME I WANT TO DO SO?
No, you cannot increase your premiums and benefits once you choose your plan. However you have an option to increase your premium and your benefit automatically on every anniversary year when you opt for an automatic premium update. This will be on compound basis. This option must be selected at the inception of policy.

WHEN WILL THE PLAN START?
Enterprise Life will only go on risk once the first premium has been received.

HOW LONG WILL THE PLAN LAST?
The policy will cease when it reaches its term. The minimum term is 7 years and the maximum is 18 years. Choose the term that meets your child educational needs.

HOW DO I MAKE A CLAIM?
All claims should be reported at any ELAC Branch offices. The documents required are spelt out in the policy conditions folder.

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.
• 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.9.

WHAT HAPPENS WHEN I DIE?
Your nominated trustee will make a claim on your life, and any other future claims if applicable.

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 or from your employers

CAN I AFFORD THE MONTHLY PREMIUMS?
The minimum premium for the Educare Plan is only GH15.00 and the maximum is GH200.00. This excludes the GHp.50 policy fee that the company charges for administering the policy.

How does the plan work?
There are three options available for the member to choose from. This has varying compositions of both the life cover and the investment element.

Who can the plan cover?
The Life assured is the only member who can be covered and must be aged 18-54 years. However trustees and beneficiaries can be named
There are two optional add-on benefits available:

a) Funeral Cover Benefit – which provides burial cover for the Life assured, spouse and children only which has a six month waiting period restriction, and;
b) Cash Bonus – which is purely investment, a structured, disciplined way to save, at good returns.
c) Lump sum payment - The policy holder has the opportunity of making a lump sum payment into the investment account of the policy whenever he or she wishes to do so.

Can I increase my premiums and benefits anytime I want to do so?
No. However you have an option to increase your premium and your benefit automatically on every anniversary year. This will be on compound basis.

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

How long will the plan last?
Once the policy reaches its term, the client qualifies for the full encashment value. The term of the policy is the duration of the policy. The plan is open-ended without a maturity date. Policies terminating after the 10th year will be treated as maturities whilst those terminating before the 10th year will be treated as surrenders. The policy shall terminate on the policy anniversary preceding the policyholder's 70th birthday.

How do I make a claim?
All claims should be reported at any ELAC Branch offices. The documents required are spelt out in the policy conditions folder. (See Section G5).

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 if it has the funeral cover benefit option.
• The plan has ceased due to non-payment of premiums or surrender
• If death is as a result of an exclusion. (See Section G.7).

What happens when I die?
Your nominated trustee will make a claim on your life, and any other future claims if applicable, (seesection C 1).

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 or through your employer

Can I afford the monthly premiums?
The minimum premium for the Life Time Needs Plan is only GHË15.00. This excludes the GHp.50 policy fee that the company charges for administering the policy (plan).

Its aims
The plan aims to provide immediate cash pay-out to the policyholder to cover funeral expenses of loved ones.
Our Ghanaian family values which is based on the principle of caring and respect for humanity is evident in our social lives and this underscores the need for a decent and dignified burial of our loved ones.

How does the plan Work?
The plan will only pay the lump sum if you or any member you have insured dies during the period of cover.
There is therefore no surrender or maturity value.

How much will the plan pay out?
You decide how much benefit you would like this plan to pay out.
There are six (6) different plan types with each type having five options.
You can only select one plan type and one option.
You cannot switch between plans once your application has been accepted.
The plan type and option you choose will determine your monthly premium.

Who can the plan cover?
The plan can cover the following:
• Life Assured,
• the Life Assured's spouse
• children – (maximum of 6)
• Wider family - maximum of six (8) out of the following – parents, parents-in-law, stepparents, foster parents, Siblings, grandparents and additional spouses Definitions of which can be found in section D.16 in the terms and conditions folder. The maximum number of lives to be covered under this policy is 16.

Are there any age limitations?
Yes. These are the ages applicable at inception and vary for the different category of lives. They are as follows:
• Insured 18 - 59 years
• Spouse 18 - 59 years
• Children 0 - 21
• Extended Family 1 - 74 years

Do all the covered members enjoy the same benefits?
No. Whiles the policyholder and the spouse are covered for the full benefit of the plan type selected, parents and wider family cover is 50% of the benefit. See below:
Cover Levels

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 when you opt for an automatic premium update.
This will be on compound basis. This option must be selected at the inception of the policy.

Are there any other benefits apart from the life cover benefit?
Yes, Ten per cent of all premiums paid becomes 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 should have been paid.
When the life assured dies through accident the policy will pay double the life cover.
This applies even when death occurs within the 6 months waiting period.
You will also enjoy a Family Support Benefit after the death of the life assured.
This is paid in 6 month's instalment. There are two optional add-on benefits available.
It cannot be taken on its own on a separate application form.

a) Memorial Benefit
It provides the payment of 50% of that member's burial cover, one year after the death of the Life Assured, or nominated family members.

b) Cash Bonus
It is purely investment, a structured, disciplined way to save, at a good return.
The minimum monthly premium is GHC5 whiles the maximum monthly premium is GHC10

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

How long will the plan last?
You decide how long you want the cover for. It is therefore open ended.

How do I make a claim?
All claims should be reported at any ELAC 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.
• 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.9.

What happens when I die?
Your nominated trustee will make a claim on your life, and any other future claims if applicable, see section C.

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 or from your employers.