The reality is that someday we may not be alive and those left behind will have to find other means of survival. It's comforting to know that there is a way to plan for the future. Vanguard Life Assurance Company Limited offers you a life plan that will put you and your loved ones at ease. It will make sure that your loved ones will have funds to live on after you are no more.

Vanguard Life Family Welfare Assurance Plan offers your family financial protection in the event that you are no longer able to provide for them due to death, permanent disability or critical illness in which case a lump sum shall be paid to your family members as income. With this plan, you'll be paid out in a lump sum within 72 hours for valid claims on receipt of all required claims documents. Most importantly, it's affordable life insurance policy.

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The Family Welfare Assurance Plan provides life insurance cover on the life of the policyholder and pays the sum assured as income replacement benefit in the eventuality of death, permanent disability and/or critical illness of the policyholder.

The policy provides you the following as the main benefits as long as the policy is active.

Death Benefit

The policy provides life assurance cover for death caused either accidently or through natural causes. This means that, if this policy is active, in the eventuality of death of the policyholder, the full benefit payable shall be paid.

Permanent Total Disability Benefit

The policy provides accidental disability insurance cover for the policyholder. This means that, if this policy is active and the policyholder through accident becomes permanently incapacitated, the full benefit payable shall be paid.

Cash Back Benefit

A lump sum of 10% of total premiums paid less the policy fees would be refunded to you at the end of every five (5) consecutive years if the policy is active and no claim has been made.

Life Covered Cover Limit (GH¢) Minimum Age at Entry Maximum Age at Entry Maximum Number
Principal Life Assured 12,000 18 59 1
Spouse 12,000 18 59 1
Children 6,000 6 months 20 6
Parents 12,000 35 75 2
Parents-in-Law 6,000 35 75 2
Extended Family 12,000 1 75 4

If a secondary life assured dies, the premium applicable to the deceased secondary life assured shall go into a savings account and paid as part of the cash back benefit(where applicable) or paid every five(5) years to policy holder.

The policy holder has the option to use cash bonus account balance to pay monthly premium or premium in the event of default in premium payment before cover lapses or converted to paid-up.

After payment of premium for five (5) consecutive years from the inception date of the policy, if you are unable to continue to pay premium with evidence of loss of job and or permanent total disability, the policy shall be automatically converted to paid-up insurance.

You shall no longer pay premium but the policy shall remain active on a reduced sum assured on the life of the Principal Life Assured only. Cover on the secondary life shall however cease.

The policy shall lapse and no payments shall be made to the policyholder if premium payments ceases during the first five (5) years of the policy.

AUTOMATIC ANNUAL BENEFIT INCREASE

This option enables the policyholder to increase the benefit lever of his cover himself and secondary lives annually to preserve the value of the benefit from the effect of inflation to the extent of the annual automatic increase options selected.

The annual premium increase and the corresponding annual benefit increase options are as stated in the table below.

Automatic Annual Premium Increase 10.00 % 15.00 % 20.00 % 25.00 % 30.00 %
Automatic Annual Benefit Increase 7.50 % 11.25 % 15.00 % 18.00 % 22.00 %

If you selected any of the option on the application form, your monthly premium payment will automatically be increased based on the option selected at each anniversary of the policy issue date. Once selected, the policy holder cannot during the life time of the policy changed to a higher benefit increase update but can change to a lower benefit update option. The policyholder, however, have the option to cancel automatic benefit update on the policy at any time in writing to us.

Please note that all life assured has an automatic benefit increase of 3.75% of their life cover for a corresponding increase of 5% premium

CRITICAL ILLNESS/DREAD DISEASE BENEFIT

The benefit under this cover will be paid if the policyholder, who is confirmed of having been diagnosed of a named critical illness in the table below meets the defined condition.

The claim shall be supported with full medical reports and other relevant evidence to us within three(3) months from the onset of the illness or disease.

The policy pays critical illness benefits based on the critical illness cover table below subject to application for benefit and all required documents.

Click To View Chart

Do you need to claim?

Follow the easy steps below to get your claim fast and efficiently.

Notify us

Please notify us of your intent to claim within 24-hours of the event. If this isn’t possible, please call us as soon as possible on the below numbers.

Contact our Customer Service Department:

Monday to Friday

Walk in centre hours: 08:00 to 16:30
Call centre hours: 8:00 to 17:00 - Monday to Thursday

Fridays - : 8:00 to 16:30
Telephone numbers: 0302 235437 - 5, 028 9533900
Email: info@vanguarglife.com

2. Required documents

You’ll need to send us relevant Final Dignity Assurance Plan documentation. Download the necessary forms by clicking on the links in the lists below.

Natural Death

In the event of a natural death, Vanguard Life requires the following documents to process the final dignity assurance policy payout:

  1. Completed Claim form by the claimant
  2. Original policy documents
  3. Original or Certified true copy of medical certificate of the cause of death
  4. Certified copy of death certificate
  5. Certified copy of identity document of both the insured and beneficiary or trustee
  6. Certified documentary proof of marriage (if applicable)
  7. Prove of age of deceased life if age is not admitted.
  8. Any other documents deem necessary by the insurer.

Unnatural Death

In the event of an unnatural death, Vanguard Life requires the following documents to process the funeral policy payout:
  1. Completed Claim form by the claimant
  2. Original policy documents
  3. Original or Certified true copy of medical certificate of the cause of death
  4. Certified copy of death certificate
  5. Certified copy of identity document of both the insured and beneficiary or trustee
  6. Certified documentary proof of marriage (if applicable)
  7. Prove of age of deceased life if age is not admitted.
  8. Any other documents deem necessary by the insurer.

Permanent Disability

In the event of permanent total disability, Vanguard Life requires the following documents to process the family welfare assurance policy payout:
  1. Completed Claim form by the claimant
  2. Original policy documents
  3. Original or Certified true copy of medical certificate of the cause of death
  4. Certified copy of death certificate
  5. Certified copy of identity document of both the insured and beneficiary or trustee
  6. Certified documentary proof of marriage (if applicable)
  7. Prove of age of deceased life if age is not admitted.
  8. Any other documents deem necessary by the insurer.

Cash Back/Loyalty Benefit

  1. A completed application or written request for cash back or total return of premium benefit by policyholder.
  2. Payment will be made to the bank account of the policyholder used to pay premiums or the policyholder will provide a bank account to enable the payment if the mode of premium payment is employer deduction.

3. We’ll keep you posted on the status of your claim

We value your concerns, comments and compliments. If you are not satisfied with anything concerning our services, or if you have any enquiries, complaints or you wish to make changes to your policy etc.,

Kindly contact our customer clinic on 0302 235437 - 5, 028 9533900 or www.vanguardlife.com or contact any of our branches and sales offices nationwide.

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