First Insurance Company Limited has uniquely designed two products “Buy Term and Invest in Mutual Funds” and “Education Policy” aimed at protecting the breadwinner’s income and also ensuring that the tertiary education needs of your child/ward are adequately catered for.
First Insurance is firmly committed to professional policy administration and prompt payment of legitimate claims for maximum satisfaction and peace of mind of all our clients.
FINANCIAL INDEPENDENCE
Buy Term and Invest in Mutual Funds
We are all growing ever older. Although no one knows what the future holds, we all know we want to lead a self-determined life into old age. This is where First Insurance assists its customers, with our comprehensive, family-centred Term Insurance Product that replaces the policyholder’s income in the event of premature death during the policy term.
Individual Death
A lumpsum benefit is paid out on the death, during the policy term, of:
The policyholder, and/or
A named child
A named child
Individual Funeral
15% of the death sum assured is immediately paid out on the death of the policyholder to cover funeral expenses
Individual Critical illness
30% of the death benefit is paid out if the policyholder is medically diagnosed of one or more of specified Critical Illnesses during the policy term
Individual Disability (Lump sum)
50% of the death benefit is paid out as a Total and Permanent Disability (TPD) benefit on the total and permanent disablement of the policyholder during the policy term.
Individual Waiver of Premium (WOP)
WOP on Temporary Disability – premiums are waived for a up to 6 months upon the temporary disablement of the policyholder during the policy term
WOP on Death – premiums for the child death benefit are waived on the death of the policyholder during the policy term
Loyalty Bonus
15% of the premiums paid is payable at the end of every 5-year cycle if the policy stays in-force and no claims have been made. The benefit is paid into a separate mutual fund account held by the policyholder. The mutual fund account is under the full control of the policyholder. FAI is not involved at all in the management of the mutual fund.
Return of premiums (RoP)
On survival of the policyholder to the end of the policy term, all premiums paid will be returned (excluding interest and policy fees), provided no claims have been paid
INSURE YOUR WARDS EDUCATION
EDUCATION POLICY
Our research has revealed that most parents struggle to handle the educational expenses of their ward at the tertiary level, due to stagnation in their career or job uncertainty.
While some are given early retirement packages, some also experience job losses at that crucial stage of their child/ward’s education.
Our Education policy is structured to pay for the educational expenses of your Child/Ward at their preferred university or College. If death occurs during the term of the Policy, the sum assured is paid into the child’s Mutual Fund Account.
First Insurance is a wholly-owned Ghanaian Life Insurance Company licensed to do business in Ghana.
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and demoralized by the charms pleasure moment so blinded desire that
they cannot foresee the pain and trouble.
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