The Family Income Protection Plan aims to give you a regular benefit if you suffer illness or accidental injury leading to incapacity and a loss of earnings.
Your benefit can replace some of your lost earnings, or if you do not work, it can meet additional expenditure.
The policy pays a lump sum equal to the sum assured in the event that the policyholder dies or becomes permanently disabled.
The plan will pay a lump sum payment of the sum assured if you suffer any of the insured events (Critical illness, Total permanent disability or Death)
In the event of the policyholder being diagnosed with a critical illness, a percentage of the sum assured, is paid.
This is an accelerated benefit, and the benefit paid on death is reduced by any critical illness benefits already paid.
In the event of the policyholder becoming permanently disabled, the full sum assured.
This is also an accelerated benefit. In the event of the death of the policyholder, the full Sum Assured as specified in the schedule is paid.
This is reduced by any previous amounts paid under the critical illness or permanent disability benefits.
The Life assured is the only member who can be covered
The minimum age at entry is 18.
The maximum age at entry is 60.
Cover ceases at age 65.
This limit also defines the maximum term available for each age e.g. for a 60-year-old, the maximum cover term is 5 years.
No, you cannot 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 a compound basis. If the option is not exercised at the inception of the policy, it cannot be exercised later.
Enterprise Life will go on cover once the first premium has been received.
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.
All claims should be reported at any ENTERPRISE LIFE touchpoints. The documents required are spelled out in the policy conditions folder
ENTERPRISE LIFE will not pay a claim if:
Your nominated trustee will make a claim on your life.
You must do the following:
