Apômuden Plan
Discover product details
The Apômuden Plan provides financial support to Policyholders or their beneficiaries who suffer some form of income loss due to hospitalization and/or subsequent death whilst on admission at the hospital. It also allows a short to medium term savings for the Policyholder. This product covers the Policyholder and an Additional Life (i.e. spouse, child, sibling, parent or parent-in-law).
KEY BENEFITS
Discover product benefits
The benefit pays a specified amount per night of hospitalization up to a maximum of 30 nights for each policy year.
In the event of death occurring during hospitalization, a lump sum amount equal to the 30 times hospitalization benefit shall be paid.
The fund value of the susu account minus administrative charges and previously accessed amount by the policyholder will be paid out after three (3) years.
You are eligible to make a partial withdrawal after four (4) months of susu contribution with the maximum withdrawal amount being 50% of the accumulated fund value. Subsequent withdrawals can be made every 4 months.
The susu cash value will be paid minus any surrender charges and all partial withdrawals previously accessed.
If the policy is surrendered during the first 24 months, there shall be a surrender charge as indicated in the table below.
Duration in months | 0-6 months inclusive | 7-12 months inclusive | 13-24 months inclusive | 25 months and above |
Surrender Charge | 50% | 30% | 10% | 0% |
Annual Benefit Increment
If an “Annual Premium Increment” is chosen, the benefit automatically increases on each policy anniversary with the "Corresponding Benefit Increase" as shown in the table below.
Annual Premium Increase (%) | 5 | 10 | 15 | 20 | 25 | 30 |
Corresponding Benefit Increase (%) | 3.75 | 7.50 | 11.25 | 15.00 | 18.75 | 22.50 |
Product Features
Entry Age :
- Main life : 18-67 years
- Additional Life : 5 months - 67 years
Maximum Coverable Age : 70 years
Policy Term : 3 years
Commencement of Cover : First day of the following month after full premium payment
Waiting Period : 3 months, not including death by vehicular accident
Replacement of life: After the death of an additional life, there will be an opportunity to nominate a replacement. This can be done once during the three year term of the policy.
The newly nominated additional life will be subject to a three month waiting period.
Susu contribution: The monthly insurance premiums shall be deducted from the susu contribution at the end of each month.
Mode of Payment: The policyholder will pay through mobile money.
Payment Frequency: Susu contribution can be made daily, weekly or monthly. The insurance premium shall be paid monthly.
Benefit and Premium Payable Options
| Cover | Benefit per night (GHS) | Max. Benefit (GHS) | Monthly Premium (GHS) |
| Hospitalization | 30 50 60 70 100 | 900 1,500 1,800 2,100 3,000 | 6 8 9 10 13 |
| Death during hospitalization | N/A | 900 1,500 1,800 2,100 3,000 | N/A |