GES Group Life Insurance Policy

What is the GES Group Life Policy?

This is a comprehensive Group Life Insurance package for all staff of GES nationwide. This Plan takes care of the future. Your dream and that of your dependants will not be cut short by death, illness or accident.

This Plan also provides benefits that give your dependants a sense of stability as they may face a future without you.

i. Death Benefit (Natural or Accidental)
The cover offers a death benefit payable to named beneficiaries of any staff of GES who passes on. The policy will pay out the benefit in the event of death as a result of natural or accidental means within the policy period.

ii. Permanent Disability
This provides a 24-hour protection cover which will pay a determined amount to any staff of GES who suffers bodily injury through an accident. Accident or injury is not limited to periods during which the employee is at work. Neither does it have any geographical limitations. Payment of actual compensation is based on degree of incapacitation.

iii. Critical Illness
This provides benefit for any staff of GES who is diagnosed with the following list of critical illnesses:

  • heart attack
  • stroke
  • deafness
  • cancer
  • kidney/renal failure
  • loss of sight
  • loss of speech
  • paralysis

The diagnosis must be certified by a qualified Medical Doctor of a Ministry of Health approved hospital within Ghana.

Who is Eligible for cover?

  • All staff of GES who are in active service and must not have attained the age of 60 years.

How much Premium will I pay?

  • A minimum monthly premium of GH¢10.00

How are Premiums Paid?

  • Deductions will be done at source


The following benefits are available under the policy;

  • Death - 18,000.00
  • Permanent disability - Up to 18,000.00
  • Critical illness - Up to 9,000.00

Claim will not be paid for death, permanent disability and critical illness for events resulting from;

  • Suicide or self-inflicted injury.
  • War insurrection or civil commotion
  • Criminal action or intake of narcotic drugs.
  • Aviation other than as a passenger recognized airline.

Claim Documentation Requirements

  • Written letter of notification from GES /Unions.
  • Completion of death or injury form

In addition to the above, any of the following proof of death will be required;

  • Medical certificate
  • Death certificate
  • Mortuary and burial documentations
  • Coroner’s report
  • Police report in case of accident.

In cases of permanent disability and critical illness
• Comprehensive medical report stating the cause and severity of injury or illness will be required.

✓ You’re the primary bread winner in your family
✓ Your family would have trouble living comfortably without your income
✓ You want to provide your family with that extra financial security in the event of death, disease or disability.
✓ You have dependants

For further details, please call our customer service number or contact any of our branch office near you


Loan Protector

This plan is designed to reduce considerably, the default risks of financial institutions in the administration of their Consumer/Retail Loans.

How does the policy work?
The Policy has been developed to pay the outstanding loan and or with interest when the borrower (loan beneficiary) dies or suffers total and permanent disability arising out of illness or accident. The outstanding loan does not include unpaid scheduled payments before death or disability.

What does it cover?
There are three principal types of coverage and these are as follows:-

  • Death Only
    The Policy pays the outstanding balance only when the borrower dies within the repayment term of the Loan.
  • Total and Permanent Disability Only
    The Policy pays the outstanding balance to the financial institution only when the borrower suffers total and permanent disability, arising out of an accident or illness, within the repayment term of the Loan.
  • Death or Total and Permanent Disability
    The financial institution receives the outstanding balance when the borrower dies or suffers total and permanent Disability arising out of an accident or illness, within the repayment term of the Loan.

Who can be covered?
Every client/beneficiary of the Consumer/Retail loan portfolio, aged between 18 and 60 years and in good health, is eligible for coverage.

How are benefits paid?
Benefits payable under the policy shall be made to the Financial Institution. Every legitimate claim shall be paid within one week, on receipt of all the appropriate claim documents evidencing that the insured event has occurred.

These include:

  • Death Certificate;
  • Medical evidence of total and permanent disability/ incapacity

Premium Payable
The premium payable is dependent on some factors such as: -

  • The age of the client;
  • The repayment term of the loan; and
  • The interest rate chargeable on the loan.

The applicable rate, (to be agreed upon by SIC Life and Institution) based on the age of the loan client and the repayment term of the loan, is applied to the loan amount to determine the premium payable over the loan term.

For further information, contact accredited sales representatives, any SIC LIFE Office near you or the offices listed on this site.