Education Plan Plus
  • It is a special Policy designed to meet the educational expense needs of Policyholders or their children.
  • It provides an easy and effective way to give yourself or your children that chance to attain the higher level of education.
  • The primary intention of the product is for a life protection cover and also to ensure that the account value at maturity is substantial enough to meet educational expense needs.
  • The plan offers healthy savings returns and other attractive benefits.

WHAT BENEFITS ARE ENJOYED UNDER THE POLICY?

  • Death Benefit
    The nominated beneficiary(ies) shall be paid the updated Death Benefit.
  • Maturity
    At maturity, accumulated value is payable without charges
  • Surrender
    The policy has a surrender benefit payment subject to thirteen (13) months premium payments or a lump sum equal to 13 months premiums having been paid.
  • Partial Withdrawal
    Withdrawal is permissible after twelve (12) months continuous payment of premiums subject to a maximum withdrawal of 60% of the Cash Value.
  • Inflation Protector
    Inflation protector to safeguard benefit pay out from inflation.
Annual Premium Increase Annual Benefit Increase
5% 3.75%
10% 7.50%
15% 11.25%
20% 15.00%
25% 18.75%
30% 22.50%

   
AT WHAT AGE CAN I PURCHASE THE POLICY?
Any person from age 17 (next birthday 18 years) up to 49 (next birthday 50 years) can take this policy.
HOW LONG DOES THE POLICY RUN?
The policy is allowed to run for a minimum term of 10 years and a maximum term of 20 years subject to a maximum age of 60 years.

HOW MUCH PREMIUM IS PAYABLE?
Minimum premium is GH¢ 60
Minimum Sum Assured of GH¢ 5,000.

HOW ARE PREMIUMS PAID?

  • Source Deduction
  • Bank Direct Debit
  • Cheque

CAN BENEFIT BE INCREASED?
Yes, at inception you can select the inflation protector option to safeguard the Sum Assured from deflation.

WHAT HAPPENS WHEN YOU PASS ON?
SIC LIFE will pay the death benefit which will be the higher of the Sum Assured plus inflation Protection factor or the Fund Value as at the time of Death. The applicable benefit will be paid within 48 hours upon receipt of all relevant documents

HOW CAN I KNOW THE BALANCE IN MY ACCOUNT?
Upon request, you will be provided with an easy to understand statement detailing your contributions, death benefit, cash value and interest accrued.

“Take Education Plan Plus TODAY and experience absolute peace of mind!!!”

Call our customer service:  0501570652 / 0501694554
OR
WhatsApp: 0501456983

Ultimate Life Plan

What does the ultimate life plan provide?

The policy provides the following:

A) Life cover: In the event of untimely death, the policy will pay out the Sum Assured or a higher amount of Death Benefit based on accumulations in your INVESTMENT ACCOUNT.

The INVESTMENT ACCOUNT will ensure:

• Rapid accumulation of funds through periodic savings;
• Attractive returns on savings;
• Hedge against inflation.
• Easy accessibility to loans.

NB: YOU CAN MAKE PARTIAL WITHDRAWALS from the accumulated account after TWO YEARS.

B) Personal accident cover: It provides financial compensation for death, or permanent disability or bodily injury through accidental means.

Benefits:
• Provides 24-hour protection daily;
• Prompt payment of the compensation in case of injury;

What is the minimum contribution that can be made?
Currently the minimum monthly contribution is Sixty-one Ghana cedis (GH¢61.00). But it would be advisable to consider higher values that will enhance accumulation in the investment account.

Furthermore, additional payments can be made at any time to accelerate the growth of the investment account.

How can I know the balance of my account?
On each anniversary of your policy, you will be provided with a STATEMENT OF ACCOUNT on request which will show, among other things, the Total Contributions, amount of Death Benefit, Cash Value and Interest accrued on the INVESTMENT ACCOUNT.

What happens when death occurs?
In the event of death from natural causes, the applicable Sum Assured or death benefit under the Policy will become payable to the named beneficiary.

The additional Sum Assured under the Personal Accident cover will be payable where death results from accidental causes.

How will the proceeds from the investment be paid?
The settlement option:
• A Lump Sum payment;

ULTIMATE LIFE PLAN: PLANNING TOWARDS OLD AGE OR RETIREMENT WITH THE POSSIBILITY OF ACCIDENTS IN MIND

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

 
 
 
 
Family Security Plan

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.