A-Plus Life Assurance Company Limited Micro Insurance Products

A-Plus Life Assurance Company Limited Micro Insurance Products

The Daakye Pa Plan – Micro Insurance Product, it is a risk product with savings component. When the insured event occurs. Exceed Life Assurance Co. Ltd. will pay the policyholder’s nominated beneficiary the initially elected Sum Assured or the total contribution plus the interest whichever one that is greater. At maturity, the total contribution plus the interest will be paid.


Minimum Age of Entry: 18            Maximum Age of entry: 65

Main Benefits

Maturity Benefit: Total contribution plus the interest accrued

Partial Withdrawal: The policy holder can withdraw up to 60% of total contribution after three (3) months of contribution without any charge.

Death Benefit: Natural or accidental death benefit and it is equal to the Sum Assured elected at the inception.

Death Benefit: The death benefit payable depends on the premium option selected.

Option 1 Option 2 Option 3
Daily Premium: GH¢2 Daily Premium: GH¢5 Daily Premium: GH¢10
Death Benefit: GH¢500.00 Death Benefit: GH¢1,250.00 Death Benefit: GH¢2,500.00

Policy Period

Minimum period is one (1) year and maximum is two (2) years

Effective Date

The first day of the month following the receipt of the completed proposal form, first premium and approval by Exceed Life Assurance Co. Ltd.

Waiting Period

There would be a waiting period of three (3) months at inception of the policy. In the event of accidental death of the policy holder during the waiting period the whole sum assured would be paid. However, No claim will be paid in the event of natural death of the policy holder except refund of premium.

Option for Premium or Benefit Increase cover:

Where this option was exercised the following table of annual premium increase with the corresponding annual sum assured shall apply.

Annual premium 5% 10% 15% 20% 25% 30%
Annual Benefit 3.75% 7.50% 11.25% 15% 18.75% 22.50%

Claim procedure

The processing of claim will commence only after we have received these documents:

  •  The original Policy Document
  •  A completed claim form
  •  A National ID, Voter’s ID, driver’s licence, passport

In addition to any one of the following document in case of death claim

  • Medical certificate of cause of death.
  • Certify copy of entry into the register of death

Official death certificate issued by a competent authority