The Workers Plan

– a new dimension in savings for your children's future

Policy highlights

The Workers Plan is an investment linked protection plan designed for every worker in Ghana.

This offer is specifically designed to suit the future needs of the average worker who wants to enjoy a comfortable life even after retirement since retirement is inevitable. The policy consists of both life cover payable upon the policyholder's death or total disablement and accumulated value which can be assessed by the policyholder during his/her lifetime.

Who can buy?

Any healthy Ghanaian between the ages of 18 and 55 years who earns regular income.

Benefits of the Policy

Plan provides a combination of Term Life up to retirement age (i.e. maturity age), and an Investment Fund. Death Benefit proceeds are payable in the event of death of the insured prior to the maturity age, while the policy is in force. The Investment Fund is attached to the life protection benefit as a rider and it is compulsory. The plan will pay the Investment Fund Value to the policy owner on the maturity date. The maturity age is designed to coincide with the retirement age (i.e. policy anniversary nearest the insured’s retirement age 60).

 

The Investment Fund, which represents policy owner’s equity in the policy is accumulated through flexible periodic (monthly, quarterly, semi-annually, annually) contributions.

 

While living, you are provided access to your Accumulation Fund through Loans, Partial withdrawals.

At retirement age, the entire Accumulation Fund is disbursed to you without the imposition of any surrender charge, and then the policy expires. The Accumulation Fund is disbursed at maturity as a Lump Sum or at the option of you the policy owner as an annual income payable for life and guaranteed for five (5) years or a combination of both.

 

Supplementary Benefits are available through Riders and Options.

 

Riders

Death cover: In the event of death of the insured before maturity, a lump sum comprising of the Sum Assured and the accumulated value is paid to beneficiaries stated by the policyholder

Personal accident benefit: BEIGE Assurewill pay a lump sum to a maximum of the life cover upon death, partial or permanent disability or any dismemberment suffered by the insured as a result of an accident.

Hospitalization cash benefit: BEIGE Assurewill pay daily benefits to the policyholder upon receipt of proof of confinement of the insured in case of an accident or illness. The maximum period for each such confinement for which payment will be made is 180days.