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BEIGE Assure

BEIGE Assur is a wholly owned Ghanaian Company and a member of the International Cooperative and Mutual Insurance Federation (ICMIF) UK. It is owned by BEIGE.

  

SCHOOLING POLICY

BEIGE Assure Schooling Policy is designed as a fixed term plan with combination of decreasing death benefit and savings plan.

The main objective of this policy is to ensure that the future education of the child(ren) of the policy holder is not put in danger as a result of the unfortunate death or the total and permanent disablement of the insured parent/guardian.

  • This is a child education plan policy which allows the policy holder an option to choose an expected amount that will be paid in bits over a sixty (60) month period ie five (5) years.
  • The death benefit is not necessarily to take care of funeral expenditure rather to serve as an interim source of income to the estate of the policy holder.
  • Aside the fixed mortality explained above, there are additional risk benefits attached to the policy. These we have termed as riders.
  • The riders are term riders, personal accident rider, and hospitalization rider.
  • The unique feature about our schooling policy is the waiver of premium
  • This comes into effect when the parent or guardian dies or is permanently disabled. The company takes up the premium payments until the policy matures and the proceeds paid to the beneficiary.

Upon maturity, the proceeds are paid to the policyholder, either as a lump sum or instalment payment upon agreement.

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PRESTIGE PLAN

The Prestige Policy is an investment linked pension plan designed to cater for the pension needs of workers as well as provide enhanced protection during the lifetime of the policyholder. This includes riders which offer protection against critical conditions like cancer.

Benefits include Personal Accident Cover, Critical Illness Cover and Hospital Cash Benefit.

  • This affords the policy holder the cost of expenditure of certain dreaded diseases. Such ailments like cancer, stroke, diabetes, renal failure, major organ transplant etc.
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GROUP SCHEME POLICIES

  • Comprehensive group scheme policies tailored to suit the specific needs of the group.
  • BEIGE Assure Group Schemes offer innovative, affordable benefits and tailor-made co-branded products to lots of satisfied groups such as Corporates, Trade Unions, welfare groups, churches, Educational Insitutions, associations, etc.

We accommodate smaller and larger groups, and quotations are individually prepared according to the size, nature and requirements of the group.

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WORKERS POLICY

The Workers Plan is an investment linked protection plan designed for every worker in Ghana.
This offer is specifically designed to suit the future needs of the average worker who wants to enjoy a comfortable life even after retirement since retirement is inevitable. The policy consists of both life cover payable upon the policyholder’s death or total disablement and accumulated value which can be assessed by the policyholder during his/her lifetime.

Who can buy?

Any healthy Ghanaian between the ages of 18 and 55 years who earns regular income.

 

Benefits of the Policy

Plan provides a combination of Term Life up to retirement age (i.e. maturity age), and an Investment Fund. Death Benefit proceeds are payable in the event of death of the insured prior to the maturity age, while the policy is in force. The Investment Fund is attached to the life protection benefit as a rider and it is compulsory. The plan will pay the Investment Fund Value to the policy owner on the maturity date. The maturity age is designed to coincide with the retirement age (i.e. policy anniversary nearest the insured’s retirement age 60).

 

The Investment Fund, which represents policy owner’s equity in the policy is accumulated through flexible periodic (monthly, quarterly, semi-annually, annually) contributions.

 

While living, you are provided access to your Accumulation Fund through Loans, Partial withdrawals.

At retirement age, the entire Accumulation Fund is disbursed to you without the imposition of any surrender charge, and then the policy expires. The Accumulation Fund is disbursed at maturity as a Lump Sum or at the option of you the policy owner as an annual income payable for life and guaranteed for five (5) years or a combination of both.

 

Supplementary Benefits are available through Riders and Options.

 

Riders

Death cover: In the event of death of the insured before maturity, a lump sum comprising of the Sum Assured and the accumulated value is paid to beneficiaries stated by the policyholder

Personal accident benefit: Unique Life will pay a lump sum to a maximum of the life cover upon death, partial or permanent disability or any dismemberment suffered by the insured as a result of an accident.

Hospitalization cash benefit: Unique Life will pay daily benefits to the policyholder upon receipt of proof of confinement of the insured in case of an accident or illness. The maximum period for each such confinement for which payment will be made is 180days.

 

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UNIQUE EXIT PLAN

You can provide both financial and practical help for your loved ones in the future. It means that those closest to you do not have to worry about the expenses when the family is most vulnerable. It is a simple way for you to take control of your affairs, gain peace of mind and help your family at a difficult time.

Policy highlights

The Plan aims at providing Funeral Benefits to bereaved families in case of death due to accident or natural causes.

The main objective of this policy is to ensure that immediate funds are provided for the funeral of any member covered under the plan.

 

How does the Plan work?

The plan makes available a pre-determined funeral benefit on the sad event of the demise of anyone covered by the policy.

 

Who may be covered?
      • Spouse
      • Children
      • Parents
      • Parents in-law

 

Features of the Plan
  • Open to people between 18 and 59 years old.
  • Benefits are payable in the event of death.
  • Family includes the policy holder, spouse and up to four [4] children between 2 and 18 years.
  • The plan allows up to two parents and two parents-in-law not above 74 years of age to be covered. Parents may either be biological or social.
  • The funeral benefits are the same for spouse, 10% for each child and 50% for each parent and parent-in-law.
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MORTGAGE PROTECTION POLICY

…A polite and responsible transition

With this policy, BEIGE Assure pays the creditor the outstanding mortgage balance in case of insured-debtor’s death or disability

General Conditions

Eligibility: All mortgagors under this scheme shall be eligible for coverage under this policy on a non-medical basis provided that at the date of application;

      • The mortgagor is between 18-65 years of age as of the date of enrollment and meets the requirements to take a loan.

Effective Date of Assurance

      • The effective date of the assurance on any loan beneficiary shall be the date of loan disbursement.

Period of Assurance

      • The period of assurance will run concurrently with the stipulated period for the repayment of the loan but not more than One Year (12 months). Loans with a tenure of more than 12 months shall be renewed with the Policyholder providing details to Unique Life Assurance.

Payment of Benefits

      • Unique Life will pay any benefit within seventy two hours (3 working days) upon receipt of all the relevant claims documents.

Termination of Assurance

    • Unique Life or the Policyholder may terminate this policy by providing 90 days’ written notice of termination. All active policies as of the date of termination shall remain in force through the end of the month for which premiums have been paid and received by the Company.
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KEYMAN POLICY

98% of business attribute a large amount of profit to at least 1 key person.

What will happen to your business if you lose the “Key person” to your company’s success to sudden death or critical illness? Our Keyman policy greatly minimizes the effects of losing your key staff in whom you might have invested a lot of training.

  • General Conditions

Freedom from Restrictions:

This policy is free from restrictions as to foreign residence, travel or occupation.

 

Grace Period:

A grace period of thirty days will be granted for payment of every premium after the first, during which period the assurance hereunder shall continue in-force. If death occurs within the period of grace the overdue premium will be deducted from the proceeds otherwise payable.

 

Mis-statement of Age:

The age of the Life Assured must be proved before a claim is paid. A policy will not be invalidated if the age of the Life Assured has been mis-stated but the Company will not pay any greater amount than the sum assured which would have been secured by the premiums actually paid if the date of birth has been correctly stated. Where appropriate, the Company will refund any premium paid in excess of those applicable to the correct date of birth without interest.

 

Voidability of Policy:

Notwithstanding any of the provisions of this policy willful misrepresentations in answer to any of the questions by the assured made in the applications for this policy or in any subsequent application for reinstatement shall be deemed material misrepresentations, and the Company reserves the right to render this policy null and void and such right of invalidation shall survive the occurrence of death.

 

Exclusions:

The Sum Assured is not payable in the event of death of Life Assured arising:

      1. From engaging in aviation other than as a fare-paying passenger on a regular recognized air route
      2. Directly or indirectly from any war (whether war be declared or not) or warlike operations including mutiny, civil war, riot or insurrection.
      3. From the execution of a judicial sentence of death
      4. From suicide within two years of date of commencement of the policy.
      5. HIV AIDS and its derivatives

Claims Provisions:

All claims must be reported to the Company as soon as it occurs to preserve the reliability of information. Relevant documents should be forwarded thereafter. Any claims not received by the company within six (6) months after occurrence of the insured event shall be deemed to be time barred and may not be processed.

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BEIGE AHOTɔ PLAN

The BEIGE Ahotɔ Plan is designed for to help raise enough capital for policy holders to grow their business and enjoy insurance protection as well. This is a one (1) year renewable policy.
Premium payment is very flexible. Premiums can be paid daily, weekly, fortnightly or monthly. A daily minimum of GHC2.00 is enough to start with.

Benefits

Surrender/Partial Withdrawal: After the policy has been in force for at least three (3) months, the full cash value becomes available without a surrender charge.

 

Policy Loan:After six (6) months of full premium payments you can access a loan of up to 150% of the invested funds. The security on the loan must be two (2) guarantors who are also policyholders with the Company.

 

Loan duration:The maximum repayment period on the loan would be twelve (12) Calender months.

 

Maturity:When the policy matures then the contract ceases, hence the accumulated fund balance(including accrued interest) is paid to the policyholder.

 

Death:In the sad event of death of the policyholder a sum assured plus accumulated balance(including accrued interest )will be paid to the beneficiary(ies)

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LOAN PAYMENT POLICY

In this policy, BEIGE Assure pays the creditor the outstanding loan balance in case of insured-debtor’s death or disability

All borrowers under all Loan Schemes shall be eligible for coverage under this policy on a non-medical basis provided that at the date of application; The borrower is between 18-65 years of age as of the date of enrollment and meets the requirements to take a loan.

Effective Date of Assurance

      • The effective date of the assurance on any loan beneficiary shall be the date of loan disbursement.

Period of Assurance

      • The period of assurance will run concurrently with the stipulated period for the repayment of the loan but not more than One Year (12 months). Loans with a tenure of more than 12 months shall be renewed with the Policyholder providing details to Unique Life Assurance.

Payment of Benefits

      • Unique Life will pay any benefit within seventy two hours (3 working days) upon receipt of all the relevant claims documents.

Termination of Assurance

    • Unique Life or the Policyholder may terminate this policy by providing 90 days’ written notice of termination. All active policies as of the date of termination shall remain in force through the end of the month for which premiums have been paid and received by the Company.
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