The Family Income Protection Plan aims to give you a regular Benefit if you suffer illness or accidental injury leading to incapacity and a loss of earnings. Your bene?t can replace some of your lost earnings, or if you do not work, it can meet additional expenditure. The policy pays a lump sum equal to the sum assured in the event that the policyholder dies or becomes permanently disabled.

How does the plan Work?
The plan will pay a lump sum payment of the sum assured if you suffer any of the insured invents.( Critical illness, Total permanent disability or Death)

Your commitment
To give us all the medical and other information we ask for when applying for your plan and when claiming bene?t. If you don't do this, we may not pay your bene?t and may terminate your plan.
To make all the regular premium payments we need for the length of the plan.
To tell us of any claim within the time limits we set.

How much will the plan pay out?
In the event of the policyholder being diagnosed with a critical illness, a percentage of the sum assured, is paid. This is an accelerated benefit, and the benefit paid on death is reduced by any critical illness benefits already paid.
In the event of the policyholder becoming permanently disabled, the full sum assured. This is also an accelerated benefit.
In the event of the death of the policyholder, the full Sum Assured as specified in the schedule is paid. This is reduced by any previous amounts paid under the critical illness or permanent disability benefits.

Who can the plan cover?
The Life assured is the only member who can be covered
The minimum age at entry is 18.
The maximum age at entry is 60.

Cover ceases at age 65. This limit also defines the maximum term available for each age e.g. for a 60 year old, the maximum cover term is 5 years.

Can I increase my premiums and benefits anytime I want to do so?
No, you cannot increase your premium and benefit once you choose your plan. However you have an option to increase your premium and your benefit automatically on every anniversary year. This will be on compound basis. If the option is not exercise at the inception of the policy it cannot be exercised later.

When will my cover start?
Enterprise Life will go on cover once the first premium has been received.

How long will the plan last?
The duration of the plan depends on the term you choose. However if you are at age 60 the maximum term you can choose is 5 years.
Minimum term is 5 years
Maximum term is 30 years.

How do I make a claim?
All claims should be reported at any ELAC Branch offices. The documents required are spelt out in the policy conditions folder

When will the plan not pay out?
ELAC will not pay a claim if:
  •   You do not truthfully provide all the information we ask for on your application form.
  •   The plan has ceased due to non-payment of premiums or surrender
  •   If death is as a result of an exclusion.

What happens when I die?
Your nominated trustee will make a claim on your life.

How do I get cover?
You must do the following:
  •  Give us all the information we ask for in the application process.
          Pay the required premium every month through your bank.