What is universal life insurance?

Universal life insurance is an all-in-one way to get the protection you need and build your savings. The policy combines permanent life insurance protection for lifelong peace of mind with a broad range of investment account options for tax-preferred savings growth. You choose a guaranteed death benefit for your beneficiaries and the payments you make above the cost of insurance can grow in a tax-preferred savings account. Or you can use them to increase the amount of your death benefit.

Why Choose Family Wealth Provider Policy

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FAMILY WEALTH PROVIDER

FAMILY Wealth Provider Policy

Our Customer Value Proposition speaks to the needs of a segment – Family Providers and Starting Out 

What is Family Wealth Provider (FWP)?

FWP is a product that substantially and adequately addresses the life risk needs of the family provider and in addition provides a compelling platform for savings with a competitive return on investment to enable the customer save towards fit for purpose personal financial needs 

Standard Benefits and Features of Family Wealth Provider

RISK COVER

  1. Cover:

The risk portion provides a single-life cover for the following:

  • Death – accidental and natural
  • Income Replacement – Disability
  • Critical Illness Cover – CIC (13 Diseases)

The non-medical limit is GH¢ 100,000.00

  1. Cash Back Benefit:

You will receive 20% cash back on the risk premium paid after 5 years if there is no claim on the policy

  1. Redundancy Cover:

This benefit provides that in the event of loss of employment due to redundancy your monthly risk premium shall be waived by the insurer for a period up to six (6) months

OTHER FEATURES
  1. Savings Option:

Customer can invest a minimum of GHS100 into a saving plan earning competitve interest rate in addition to his/her risk cover

  1. Minimum Term:

The minimum term is 10 years

  1. Partial Withdrawal Benefit:

You can make partial withdrawals of up to 50% on the policy every 12 months from the cash value of the savings plan.

  1. Surrender Benefit:

A cash Surrender value on the savings plan is paid should you decide to cancel the policy. Surrender value applies to only those who choose the savings plan as an optional plan

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SMART Target Policy - An Example of a UNIVERSAL LIFE

Vanguard Life Smart Target Plan provides financial support at each stage of your life. The policy is an investment-linked life assurance plan providing both life cover and savings benefits. The Smart Target Plan assures you that your investment premium is secured and shall earn a guaranteed interest. The policy pays lump sum at maturity. However, you have the option to purchase annuity (monthly payments) for a defined period or for life.

When should you consider Term Life Insurance?
  • You have a home with a fixed mortgage that you need to secure.
  • You have children, whom need financial stability while they grow up.
  • You have debts that will be paid down over time.
  • When you need low-cost life insurance with “no-frills.”
What is Whole Life Insurance?
Vanguard Life's Final Dignity Plan is a Whole Life policy. This policy provides life cover on the life of a policyholder and secondary lives (spouse, parents, extended family and up to four children) and pays the selected benefit in the eventuality of death.
Why Choose Child Education Plan

If you hope to have a successful future for your child, then Vanguard Life’s Child Education Plan has a good education plan for you today

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