This plan has the major advantage of securing a FLEXIBLE financial plan with a variable mix between investment (or savings) and life cover (or protection).

IT ENABLES YOU TO CREATE WEALTH today and preserve it FOR YOUR FUTURE SECURITY.
The plan provides the following:-
• Death Benefit
In the event of your untimely death, the policy will pay out the sum assured (where the Investment Account is less) or an amount in excess of the Investment Account (where the investment account is more than the initial sum assured.)
• Capital accumulation through periodic savings.
• Good returns on savings
• Easy access to funds
• Hedge against inflation
• Flexibility in Premium Payment:
You are offered the ability to start, stop and resume premium payments whenever you wish, provided there is enough money in your Investment Account to cover your insurance costs.

*** ONE MAJOR ATTRACTION is that you can choose your own initial sum assured within certain limits.
However, the higher the value of sum assured the more premium that goes into protection rather than into investment

How does the plan work?
Your Policy is an INVESTMENT ACCOUNT. You deposit your monthly contributions. SIC Life will deduct the cost of your insurance protection and any administrative expenses from the account. The INVESTMENT ACCOUNT earns interest at a declared rate. We guarantee a minimum interest rate fixed at 5 percent (5%) per annum.

How can I know the balance in my account?
You will be provided with an easy-to-understand statement of account which will keep you informed of your INVESTMENT ACCOUNT status on request. The statement will, among other things, show your total contributions, death benefit, cash value and interest accrued so far. It will also give details of any credits or debits during the past year.

What is the minimum contribution that can be made?
The minimum monthly contribution that can be made by a policyholder is Sixty Ghana Cedis (GH¢60.00). Extra payments can also be made at any time irrespective of the regular monthly contributions. The growth of your INVESTMENT ACCOUNT depends on how much you put in. The more you put in, the faster your Investment Account grows.

When can I come for part or all of my investment account?
You are allowed to withdraw part of your investment after contributing for two years.
You could surrender your policy for the cash value of your Account without charge after you have contributed for ten (10) years or more.

Will I be eligible for a policy loan?

You are eligible to take a policy loan with the INVESTMENT ACCOUNT as collateral after you have contributed for at least a year. The loan amount shall not exceed the cash value of your account.


What happens if death occurs before retirement?
If death occurs before retirement, a death benefit becomes payable to the beneficiary (ies) on record. If your INVESTMENT ACCOUNT is higher than the sum assured, the INVESTMENT ACCOUNT will be further increased before being paid out to your beneficiary (ies).

Can I use this policy as a supplement to my Social Security & National Insurance pension plan?
Yes, FAMILY SECURITY PLAN can be used to supplement your SSNIT and other pension plans.

What are the settlement options available to a policyholder at retirement?
The following settlement option is available:
- Lump Sum
At retirement, the maturity benefit or the cash value of your INVESTMENT ACCOUNT can be made payable to you.

What are the other advantages that can be derived from the policy?
You have the choice of increasing premiums each year to fight inflation and to increase the policy benefits. The plan can be tailor- made to suit your particular purpose.

For further information, contact accredited sales representatives, any SIC LIFE Office near you or the offices listed on this site.