Funeral Finance Plan - Unlimited


What is the cash back benefit?

The cash back is money that is payable every year under the policy provided that no claim has been made in the year under review. The cash back is 5% of the risk premium paid in the year under consideration.

Does my benefit remain flat for the entire policy duration?

Yes, if no update is selected

I have a claim but I have stopped premium payments. What happens?

Your benefit amount will be recalculated based on the missed premiums.

Will my policy lapse if premium payment cease?

No. The FFP unlimited is a no lapse policy. Once first premium has been received the policy doesn’t lapse.

How many times can I swap lives?

The life swap benefit can be assessed once in the lifetime of the policy.

Can I swap lives if I am on a waiver?

No. The life swap is available to premium paying clients and not those on waiver.

When I swap my burial benefits are the optional benefits also affected?

The optional benefits are not affected by a life swap hence the 7day,40days and memorial covers remain available to the main life during and after the waiting period.

What happens to my cover after I swap?

You will have to go through a 12 month waiting period after the swap for the full sum assured to be restored and be payable. During the waiting period only accidental deaths will be paid.

Under what conditions can I swap a life?

  • The Main Life must be below 60 years
  • The life to be swapped must be in the same age band as the main life or younger
  • The policy must be active with all premiums premium paid.
  • The policy must be more than 12 months old.

Can I claim on a life that is not covered?

If the claim is on a child, spouse or sibling the policyholder can swap 50% of his death benefit for that life. The policyholder must however be covered on the policy and be below the age of 60.

Will I get my cash back I make a withdrawal on my Cash Bonus Account?

Yes. A withdrawal on the Cash Bonus Account has no effect on the cash back computations.

Can I take my cash back even if a claim is paid to me?

No. if a claim is paid the cash back is forfeited for that year under consideration.

When can the 100% premium refund and Full waiver be applied for?

The selection between full waiver and 100% premium refund can only be made at the end of the selected payment term.

What is the 100% premium refund?

100% premium refund:

If selected, Enterprise Life will refund all risk premiums paid over the Policy term.

You may decide to end the Policy upon receipt of payment or continue to keep the insured lives under cover by paying the commensurate premiums for another term.

Should the Policy holder opt to continue payment of premiums after receipt of the 100% premium refund, the waiting period shall apply for natural deaths.

What happens after the minimum payment term chosen?

At the end of the minimum payment term the policyholder can have a 100% premium refund or a full waiver of premium.

Can I take the cash back at any time?

No, cash back can only be taken out after the anniversary of the year.

What kind of policy is the FFP Unlimited?

This is an improved Funeral Finance Plan with no restrictions which still aims to provide immediate cash pay-out to the policyholder to cover funeral expenses of loved ones.

Do I loose all my premiums when i cancel the policy?

No, A surrender value of 10% of the risk premium will be payable If no claim has been.

Will the benefits be payable from the 1st day I pay premium?

  • Yes benefit are payable immediately for Main lives aged fifty-nine (59) years and below. 
  • For all main lives aged between sixty (60) and (74) the benefits will be payable after 6 months however 100% of risk premium paid during the waiting period will be refunded if death occurs from natural causes during the waiting period.
  • All additional lives aged seventy-four (74) and below will have access to the benefits after 6 months . (100% of risk premium paid during the waiting period will be refunded if death occurs from natural causes during the waiting period)
  • Twelve (12) months waiting Period for all lives above seventy-four (74) years. (Up to 30% of Death Sum assured is payable after 6 months waiting period should death occur from natural causes during the waiting period).

Can the 7 days,40 days and memorial benefits be paid before the time specified?

No. These benefits will only be paid on the times indicated in the descriptions

Are there any additional/optional benefits?

  • Personal Accident Cover – This applies to the main life only. To choose this cover the main life must be a life assured. This is the only benefit that is not whole life.
  • Hospitalization – This benefits also applies to the main Life alone and requires that the main life is a life assured.
  • Double accidental cover – This benefit also applies to the main life only. If the policyholder dies through an accident, a double of the funeral cover is payable to the beneficiaries.
  • Cash Bonus – This is a savings pocket on the FFP unlimited with minimum premium of GH¢ 5 but no maximum. However, the maximum amount that can be invested into the cash bonus amount cannot exceed the total risk premium on the policy.
  • 7 days Pre burial Rites cover – 30% of the selected sum assured is payable after death is confirmed. This benefit must be selected to be enjoyed.
  • 40 day Celebrations – 50% of the sum assured selected is payable after death If this benefit is selected.
  • Memorial Benefits – if the policyholder opts for this 50% of the death benefit is payable a year after the death.

Is the death cover same for all covered lives?

No. Different cover options can be selected for the various covered lives therefore spouse can therefore have a different cover from parent

What are the basic benefits on the FFP unlimited?

  • Death cover
  • Surrender benefit
  • Cash back
  • 100% premium refund or full premium waiver after minimum

Are there age limits?

There is no Maximum age at entry for Main Lives, Spouses, Parents, Parent-In-laws, Siblings and Extended Families however maximum entry age for children is 21 after which cover is whole life.

Can I cover a family friend as extended family?

No. Extended family refers to Siblings, Guardians, Grandparents, Grandchildren, In-laws and foster Family.

I want cover just my parents not myself. Is that doable?

Yes. You can cover your parents, In-laws, Grand-parents and guardian without covering yourself as owner of the policy. Main life cover is Optional.

How affordable is the policy?

There is a benefit plan for all budgets. Benefits range from GH¢ 2,000 to GH¢ 50,000 so there is a plan for every pocket.

Can I change the payment term I choose from beginning in the middle of the policy term?

No the option chosen from beginning cannot be reviewed upwards nor downwards

Do I choose my term at inception or maturity?

The 10 or 15year minimum payment term will have to be selected at the start of the policy by the policyholder which will apply to all lives being covered.

Will I have to pay premium for my whole life?

There is a minimum payment term of 10 or 15 years.

What is the term of the FFP unlimited?

The cover on the FFP Unlimited is for your entire life