My Family Protection Plan provides financial protection upon the demise of the policyholder or other persons covered under the policy by making a lump sum payment to the beneficiary of the policy.
The policy is designed to ensure that there is no gap or stoppage in the Education of a child which may occur as a result of death /permanent disability of a parent/guardian responsible for the payment of the fees
In addition to the main policyholder, the following people can also be covered upon the payment of an additional premium:
This policy remains active for as long as the policyholder is alive and all regular premiums are paid as and when due.
For the policyholder
For additional people
Increases and decreases to sum assured are allowed subject to the maximum sum assured.
DEATH BENEFIT
The death benefit is the sum assured payable as set out above.
ACCIDENTAL DEATH BENEFIT
If the policyholder passes away due to an accident twice the sum assured is payable.
ADDITIONAL BENEFITS
o A grocery benefit.
o Monthly family support income.
If the policy has been in-force for 5 years the policy will not lapse.
The Policyholder will be allowed to make monthly, quarterly, semi-annual or annual premium payments.
There will be a 6 months waiting period for non-accidental death from the start of the policy.
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