• 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.

• 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.

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.

Yes. These are the ages applicable at inception and vary for the different categories of lives. They are as follows:

• Insured 18 - 59 years
• Spouse 18 - 59 years
• Children 0 - 21
• Extended Family 1 - 74 years

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:

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 a compound basis. This option must be selected at the inception of the policy.

Yes, 10% of all premiums paid becomes payable every 5 years if the policyholder 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 installment. There are two optional add-on benefits available.

It cannot be taken on its own on a separate application form.

• 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.
• 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

Enterprise Life will only go on risk once the first premium has been received.

You decide how long you want the cover for. It is therefore open-ended.

All claims should be reported at any ELAC Branch offices. The documents required are spelled out in the policy conditions folder. See Section F.

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.

Your nominated trustee will make a claim on your life, and any other future claims if applicable, see section C.

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.