Reasons To Get Insurance
- Insurance Grants Peace of Mind
Insurance, an intangible, provides another intangible: peace of mind. Business owners can take on certain business ventures because they can shift the risk — thanks to insurance.
- Insurance Ensures Family and Business Stability
Insurance is a safety net for when risks go wrong. Life insurance can support the life of a family, should a member be lost. It’s similar for a business. Should a key member or piece of equipment go out of commission, the business can carry on, thanks to insurance. It all goes back to the idea that insurance, when activated, makes policyholders whole again.
- Insurance You Financial Stability
No matter how much you are earning or how much you have saved; your financial position can be dented by an unexpected event in a moment. So, the best way to become financially secure is to cover yourself, your family, and your assets with insurance. You can buy or renew insurance online and receive a payout for financial support, in case there happens to be an unforeseen event.
- No More Stress or Tension During Difficult Times
None of us can see the future or predetermine the future events. Any unforeseen tragedy can leave you physically, mentally, and financially strained. So, if you have insurance to take care of the outcomes of such tragedies such as illness, injury or permanent disability, even death- you save yourself and your family from tension and stress. With insurance in place, any financial stress will be taken care of, and you can focus on your recovery.
STARMICRO INSURANCE PRODUCTS
The enhanced investment funeral policy provides the policyholder the opportunity to invest alongside their funeral policy for a minimum of three years. This policy gives access to full encashment/withdrawal when the need arises after the policy has run for one year.
ELIGIBILITY
The policyholder must be 18 years but not more than 64 years.POLICY BENEFITS
1. The Investment Funeral Policy covers the Policy Holder and Spouse, Parents, and Children in the event of death.2. The policy provides free cover for up to four children not more than 23 years.
This product is designed to cater to its member's medical needs arising out of accident or illness. It consists of an accident and hospitalization cover. Under the accident cover, the insured person benefits when he/she is unable to engage in his/ her normal employment due to being permanently disabled through an accident. Under the hospitalization cover, one benefits from being an in-patient for a period of 3 days and above.
ELIGIBILITY
Should be 18 years and above but not over 64 yearsPOLICY BENEFITS
The Micro health plan provides cover against;1. Accidental Death
2. Total and Permanent Disability
3. Hospitalization
Enhanced Abusua Nkyemfa” is a monthly renewable term policy that offers affordable life insurance and hospitalization cover that pays out to dependents and principal assured in the event of death and being hospitalized. It covers the Death/ Permanent Disability of the Principal Assured, Death of the Assured, and Hospitalization of the children.
POLICY BENEFIT
The policy covers;1. Death of the Assured
2. Permanent Disability
3. Hospitalization
FLIS is an innovative insurance policy facilitated by the ministry of fisheries and aquaculture development and administered and marketed by Star Microinsurance to protect fishermen against the perils of the sea.
BENEFITS
The policy covers;1. Natural/accidental death of the fisherman
2. Total destruction of outboard motor or canoe due to Perils of the Sea, Piracy, Lightening and Tsunami
The child education is a unique and flexible endowment plan designed to meet all your child/children’s education financing needs.
ELIGIBILITY
Must be 19 years and above but not over 60 yearsPOLICY TERM
The policy has a minimum term of 4 years and a maximum term of 15 yearsPOLICY BENEFIT
1. Cash benefit for School Fees2. Funds to meet other educational expenses by way of Policy Loans
3. Waiver of premium in the event of Total and Permanent Disability
4. Absolute Peace of Mind
The Rural and Community Bank Loan Protection Scheme (ARB APEX) An innovative product designed by ARB Apex Bank in collaboration with Star Microinsurance Services Limited to help mitigate the risk involved with credit delivery. The policy covers Death, Permanent disability and can be extended to have an additional cover of Fire and Allied Perils and any other risk identified.
Benefits:
Benefits of this policy include1. PEACE OF MIND for both the Banks and the borrowers
2. REDUCED COST OF LOAN RECOVERY
3. OUTSTANDING BALANCE WAIVED + EXTRA CASH BENEFIT
4. HELPING EACH OTHER in terms of needs.
An innovative product designed by the Ghana Association of Microfinance Companies in collaboration with Star Microinsurance Services Limited to help mitigate the risk involved with credit delivery. The policy covers Death, Permanent disability and can be extended to have an additional cover of Fire and Allied Perils and any other risk identified.
Benefits:
Benefits of this policy include:1. PEACE OF MIND for both the Banks and the borrowers,
2. REDUCED COST OF LOAN RECOVERY
3. OUTSTANDING BALANCE WAIVED + EXTRA CASH BENEFIT
4. HELPING EACH OTHER in terms of needs.
An innovative product designed by the Moneylenders Association of Ghana in collaboration with Star Microinsurance Services Limited to help mitigate the risk involved with credit delivery. The policy covers Death, Permanent disability and can be extended to have an additional cover of Fire and Allied Perils and any other risk identified.
Benefits:
Benefits of this policy include:1. PEACE OF MIND for both the Banks and the borrowers,
2. REDUCED COST OF LOAN RECOVERY
3. OUTSTANDING BALANCE WAIVED + EXTRA CASH BENEFIT
4. HELPING EACH OTHER in terms of needs.
The Credit Life Policy is an innovative product designed by Star Microinsurance to provide cover for both the Savings and Loans Companies and their Clients. The purpose of this product is to help reduce some of the risk associated with credit delivery. The policy covers:
1. Death of Borrower2. Permanent Disability of Borrower
3. Total Destruction of Property by Fire and Allied Perils
Benefits Of the Policy Include:
1. Peace of Mind2. Sustained Relationship
3. Reduced Cost of Loan Recovery
4. Competitive Premium Rates
5. Marketing Tool.
*Premiums are paid annually on each Individual Loan
STARLIFE ASSURANCE PRODUCTS
The StarLife WealthMaster Plus is a Conventional Endowment Product that offers policyholders a unique opportunity to create wealth to meet their medium to long term goals while protecting their family income when they are called home or permanently disabled.
MAIN POLICY BENEFITS
1. Maturity Benefit: The Sum Assured indicated on the policy is payable at the maturity of the policy. The maturity date is the expiry of the term of the policy2. Total and Permanent Disability
3. Death benefit
Your beneficiaries will benefit from the sum assured stated on the policy in the event of your demise
OPTIONAL BENEFIT
1. Increment Benefit – To hedge your benefit against inflationThe Esteem HomeCall Plan is a term assurance funeral policy that provides insured individuals and family members adequate cash to enable them organize befitting burial ceremonies for their loved ones.
ELIGIBILITY
1. Should be 18 years or above but not over 60 years;2. Should be a regular income earner
3. Other family members between 18 years to 74 years can be insured
MAIN POLICY BENEFITS
1. 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.2. Cash-Back: A cashback of 25% of the annual premiums paid for the third year will be payable to the policyholder every three consecutive years if no claim has been made.
The Child Lifeline Plus is an endowment plan designed to meet your ward(s) or child(ren)’s education financing needs now and in the future.
ELIGIBILITY
1. Should be 18 years or above but not over 52 years2. A minimum of GH¢50.00 a month to start with
POLICY TERM
The policy has a minimum term of 8 years and a maximum of 25 years.MAIN POLICY BENEFITS
1. Maturity Benefit: The Sum Assured indicated on the policy is payable at the maturity of the policy. The maturity date is the expiry of the term of the policy2. Death benefit: Your beneficiaries will benefit from the sum assured stated on the policy in the event of your demise
3. Policy Loans: Policyholders may access policy loans after 24 months’ contribution to premiums
The dreams and aspirations of every family cease upon the demise of the breadwinner. It is during this trying time that the essence of the role of the breadwinner is truly appreciated. StarLife Assurance fully understands the impact of the loss to the grieving family and with the best interest of the client at heart, we have designed and introduced the Ultimate Protection Plus (UPP) which provides ultimate protection to the breadwinner and his/her dependants.
WHAT IS THE ULTIMATE PROTECTION PLUS
This policy is a unique renewable term assurance policy that pays out the sum assured (benefits) when the event insured against happens within the terms and conditions of the policy.
ELIGIBILITY
The minimum age at entry should be 21 years and the maximum should be 56 years
POLICY TERM
This policy has a minimum term of 8 years and a maximum of 20 years. The age of the assured at the end of the term shall not exceed 65 years.
MAIN POLICY BENEFITS
1. Death Benefit: On the death of the life assured, a lump sum payment equal to the sum assured as stated in the Policy Schedule will be paid to your beneficiaries.2. Total and Permanent Disability 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 a total and permanent disability.
3. Returns for Loyalty (RFL): There is a return of all premiums if the assured survives the entire term of the policy. For assured who choose 10 years and above, a 5% simple interest will be calculated on all premiums paid in addition to the return of premiums.
OPTIONAL BENEFIT
Critical Illness/Dread Disease: A lump sum payment equal to the sum assured as stated in the Policy Schedule will be paid to you in the event of any of the critical illness or dread disease below:1. Stroke 2. Alzheimer’s Disease
3. Blindness (Severe Glaucoma or Cataract)
4. Cancer
5. Coma
6. Coronary Artery Disease requiring surgery
7. Heart Attack
8. Loss of use of limb due to medical causes
9. Major Burns
10. Multiple Sclerosis
11. Organs transplant
12. Paralysis
13. Renal Failure
OTHER BENEFITS
1. Attractive non-medical limit of GHC200,000.002. Policy is assignable
3. Rights to the benefits under this policy are transferrable.
STAR ASSURANCE PRODUCTS
This policy covers;
1. Personal accident policies are designed to compensate the insured against death, bodily injury, disability, and medical expenses incurred as a result of an accident2. Accident within the context of this policy is defined as any violent, sudden, external, and visible means.
Benefits
1. Accidental Death/Permanent Disability2. Temporal Disability
3. Medical Expenses
This policy has four sections;
.Section 1 (Fire & Allied Perils (fire, explosion, lightning, storm, flooding, earthquake)
• This covers the insured's shop and content against Loss or damage caused by perils such as fire, explosion, lightning, storm, hurricane, tornado, flooding, earthquake, volcanic eruption, bursting or overflowing of water tanks, etcSection 2 (Burglary Policy)
• This overs the insured’s contents against the above perils as well as burglary or any attempt excluding theft not involving entry into or exit from the private dwelling house, domestic offices, garages or outbuildings by forcible and violent meansSection 3 (Public Liability)
• This policy covers the insured’s liability to the public. That is, death and personal injury to any person not being a member of the insured’s, servant, or employee and accidental damage to property not belonging to or in the charge of or under the control of the insured.Section 4 (Personal Accident)
• This policy provides cover for personal accident, that is bodily injury which independently of any other cause shall result in death, temporary disablement or permanent disability and medical expense caused to the insured.2. Accidental bodily injury or death following a forced landing of the aircraft.
Sub limits:
1. Accidental death and permanent disablementMaximum Limit – € 8,200
2. Medical, Emergency Service & Repatriation
Maximum Limit – €30,000
3. Hospitalization €82 per day up to
Maximum – €820
4. Hijack Benefit €82 per day up to a
Maximum of – €820
5. Personal baggage €64 per person.
Maximum for any single item € 41
Claims Procedure
Obtain Property Irregularity Report if your luggage is lost or damaged by an airline. Call Cega Air Ambulance for all emergency health care assistance. Any loss of money or personal effects must be reported to the police within 24hours and a written report obtained.
Partner
Star Assurance Travel Insurance is affiliated to Cega Air Ambulance Limited, Goodwood Airfield Chichester,
and West Sussex PO18 0PH United Kingdom.
TELEPHONE +44 (0) 1243 621153
Our motor policy is designed to cover the legal liabilities of our insured as a result of the use of the motor vehicle and loss or damage to his own vehicle. Under our motor portfolio, the following covers are provided: Third Party Fire & Theft and Comprehensive.
OUR COVERS
1. Third-Party Policya) This covers bodily injury and death to third parties e.g. passengers, pedestrians, and other road users. The sum insured is unlimited.
b) We also offer compensation to any property that may be damaged by the insured vehicle, and the limit of liability is GH¢2,000.00 unless specifically requested. Damage to the insured vehicle is not covered.
(c) It also covers personal Accident Benefits to the driver and the insured.
2. Third Party Fire and Theft Policy
This policy covers all the above, and in addition, provides compensation for loss or damage to the insured’s vehicle as a result of the fire and or theft.
3. Comprehensive Policy
This is the widest cover and it includes all the above, in addition to accidental damage to the insured vehicle. The Third Party Property Damage limit is GHC2,000.00. The amount could be higher as per the client's request.
2. The second section covers the insured"s contents against the above perils as well as burglary or any attempt excluding theft not involving entry into or exit from the private dwelling house, domestic offices, garages, or outbuildings by forcible and violent means. In other words, these two sections are similar to a combined fire & allied perils and burglary policy.
3. The third section of this policy covers the insured’s liability to the public. That is, death and personal injury to any person not being a member of the insured’s household, servant or employee and accidental damage to property not belonging to or in the charge of or under the control of the insured or a member of his household, servant or employee caused within the limits of the private dwelling house.
4. The fourth section of the policy provides cover for personal accident, that is bodily injury which independently of any other cause shall result in death, temporary disablement or permanent disability, and medical expense caused to the insured and or spouse and or children.
5. The fifth section provides the insured with the actual cost of renting an alternatively reasonable accommodation for the period necessary for reinstatement (maximum 12 months) for an amount not exceeding ten per centum of the full value of the property per annum or the proportionate part thereof monthly.