This product provides death cover to you as the policy holder, your spouse, children, parents and extended family.
Each family member is individually priced based on age and the sum assured selected. The policy expires on the first policy anniversary after the policy holder reaches the age of 65 (66 age next birthday).
The Family Protection Plan offers key features that are unique and that enhance the value of the offering.
Automatic Inflation Protection Facility
To protect your selected benefits from the effect of rising inflation, the initial cover of the policy owner and all other lives assured increases by 5% every year and the premium for the policy shall automatically also be increased by 5% of the previous year’s premium on each anniversary of the policy. This policy also allows you to add an optional 10% Inflation Protector.
Cash Back Benefit
For every five years this policy remains in force, we will credit to you, the policy owner, an amount equivalent to 10% of the total premiums paid in the previous five years in respect of insurance benefits. The policy must be in force for this benefit to apply.
Premium Protector Benefit
Upon the death or permanent disability of the policy owner, we will keep the policy in force until the policy owner would have reached the aged of 65 for the benefit of the remaining life assureds under the policy.
Double Accident Cover
The plan has a built-in accidental death benefit for the policy owner. In the event of accidental death of the policy owner, we will pay an additional sum equal to the sum assured chosen for the policy owner. This translates to payment of ‘double cover’ on accidental death.
Claims Settlement
On receipt of all required documentation, we commit to paying claims within 48 hours of verification thereof. We understand that you and/or your family need the money for expenses incurred due to an unforeseen death and we want to assist you as best we can in this very difficult time.
Transfer of ownership
As the policy owner, you may transfer ownership of the policy to another life assured on the policy, should you be over the age of 50. This will ensure that the policy stays in force, even after you would have reached the age of 65 and the policy would have expired.
Flexibility features
The policy owner can at any time add or delete family members, children, parents and extended family. Parents and extended family members can be added up to age 85.
For more information please contact info@sanlam.co.ug