Products
Farewell Plan

Farewell Plan
The Prudential Farewell Plan is a special life insurance policy that enables you to meet your financial obligations or to give financial security to your family after you pass on. In addition to the major benefits under the policy, there are further optional benefits including an investment package.
 
What you need to know
 
The minimum and maximum entry ages qualified to sign for the policy are 18 and 59 years respectively.

The plan covers spouses, children, parents/parents-in-law and extended family members. Cover level for you and your spouse is 100% and 50% for all other insured lives.

You have the option to choose the type of cover plan referred between GHs 3,000 and GHs 15,000.

Main Benefits


Death Benefit

A lump sum payment equal to the sum assured as stated in the Policy Schedule will be paid to you in the event of the death of any of the insured individuals.

Loyalty Benefit

 
If your policy is in force for at least five (5) years and you pass on, an additional 4% of the total premiums will be paid to your beneficiaries.

No Claim Cash Back

A sum of 12% of the total premiums paid will be refunded to you every five consecutive years if no claim has been made.

Accidental Death benefit

In the event that you pass on suddenly through an accident, a lump sum which is twice the sum assured agreed in the Schedule of Benefits will be paid to your beneficiaries.

Family Cushion benefit

In the event that you pass on, an additional 5% of the total premiums made will be paid to your beneficiaries three (3) months after your death.

Hospitalization benefit

You are entitled to 4% of the sum assured once every year if you are hospitalised in a health facility recognised by the Ministry of Health for a period of at least three (3) consecutive days.

Waiver of premium benefit


Prudential life will pay the rest of the premiums if death should occur early or on attainment of age 65. However, all the insured lives are still entitled to their benefit under the policy.

What other benefits can I enjoy?

You have an option to choose any of the additional benefits below.

Cash investment

This is an additional investment feature on the policy which allows you to save. You can contribute from GH₵20 to a maximum of GH₵50. You can make partial withdrawal on your investment provided you have been contributing for at least one year.

Pre Burial benefit

On the death of any of the insured lives under the policy, a lump sum which is 30% of the sum assured as specified in the Policy Schedule will be paid before the burial of the deceased.

Post Burial benefit


Twelve (12) months after the death of any of the individuals insured under the policy, 50% of the sum assured will be paid. If the policy is cancelled before this benefit is paid, a reduced benefit will be paid.

Inflation Protector

To protect your money against inflation, you have the option to choose an inflation protection rate (5%, 10%, 15%, 20%, 25%, and 30%). There will be an increase in the sum assured and premium every year based on the rate you choose.