Enhanced Life Savings Plan

The Enhanced GLICO Life Savings Plan is specially designed to help you set and achieve your financial goals by guaranteeing you a lump sum at the end of a specified term.This Plan shall pay you a lump sum benefit if you become permanently disabled or to your beneficiaries if you pass away.

What Is The Duration Of The Plan?
The Enhanced GLICO Life Savings Plan may be taken for a minimum and maximum periods of 10 years 20 years respectively.

Who Can Be Covered Under This Plan?
The Plan is designed to cover only you, the Policyholder, but benefits may be paid to your beneficiaries depending on the event that occurs. For instance, if you pass away, the benefits would be paid to your named beneficiaries.

When Will My Cover Commence? 
Cover will start when your application is accepted by GLICO LIFE, you pay your first premium and the Policy is issued to you.

What Are The Main Benefits/Features Of The Policy?

1. Savings
The unique savings feature of the Enhanced GLICO Life Savings Plan guarantees to provide a lump sum whether you live till the maturity of the policy or not.

2. Death Benefit
In the unfortunate event that you pass away, while the Policy is active and the waiting period has elapsed, 50% of the sum assured shall be paid as a death benefit to your named beneficiaries.

3. Total Permanent Disability Benefit
A lump sum benefit of up to 100% of the sum assured depending on the severity of the disability as determined by the medical doctor, who shall attend to you, shall be paid if you become totally and permanently disabled as a result of an accident or illness. The amount payable shall be determined by the degree of disability 

4. Family Support
The Policy shall pay 5% of the Death Benefit Sum Assured every 5 years, less any outstanding premiums provided the policy is active and the waiting period has elapsed.

5. Family Upkeep
If you pass away, in addition to the Death Benefit, 5% of the Death Benefit Sum Assured shall be paid to the beneficiaries to cater for your family. This shall be a one-off payment.

6. Lump Sum
You can at any time make a lump-sum premium payment in respect of your policy. Such lump-sum payments shall be invested on your behalf at very attractive interest rates.

What Are The Additional Features?
1. ​Waiver of Premium

Upon your death or permanent disability, no premium payment shall be required and the policy shall remain active until maturity.

2. Never Lapse
The policy shall never lapse.

3. Premium Holiday
You shall be entitled to a one-month premium holiday over the policy period.

4. ​Premium Holiday
The benefits payable under this policy shall be escalated at a mandatory rate of 5% with an upward premium adjustment of 10%.

You may also select a rate between 5% & 15% and the respective premium adjusted at a rate equal to 30% of the selected rate.

5. Modal Premium
This enables premium rates to be converted to different periods i.e. premiums are discounted per the table below:

Premium ModeAnnualSemi-AnnualQuarterlyMonthly
Modal Loading90%95%100%100%

Is There A Limit On The Sum Assured?
Sum assured is the guaranteed amount you or your beneficiaries shall receive at the end of the policy term. The sum assured is unlimited, however, amounts above GH¢150,000 shall require medical underwriting.

The minimum sum assured is GH¢50,000

Who Qualifies For This Policy?
This Policy is designed for any individual between the ages of 18 to 55 years.

How Do I Join The Plan?
Our experienced Customer Service Executives are ever ready to complete a short digital proposal form (M-Proposal) on their mobile devices for you. Your policy would be issued when the first premium is received by GLICO LIFE through our numerous premium payment services.


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