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09.00am to 4.00pm

customerservice@siclife.com.gh

Claims and Other Payouts

Claim Management

Introduction:
SIC LIFE intends to help bridge any financial gaps and ease your burden. As a result we pay genuine claims efficiently and speedily.

1.1 Types Of Claims:
There are various types of claims that are processed and paid by the company and these include:

  1. DEATH CLAIMS
  2. MATURITY CLAIM
  3. PERSONAL ACCIDENT CLAIMS

Other payouts include:

  1. POLICY LOANS
  2. PARTIAL WITHDRAWAL
  3. SURRENDER
  4. REFUNDS

2.0 General Claims Procedure and Requirements

2.1 DEATH CLAIM

  • Death claim occurs when the Life Assured (the person upon whose life the policy is effected) is deceased
  • The death benefits is to be paid to the pre- determined beneficiary(ies) at inception as stipulated on the proposal form
  • In the event where the beneficiary (ies) is or are minor(s)
  • A Trustee (someone nominated by the policy holder for whom he/she trusts would administer the Death benefit as he would have done)
  • The Trustee would apply for and receive the benefit.
  • In the event where no trustee is nominated, the biological surviving mother or father would apply for and receive the Death Benefit on behalf of the minor(s).
  • Where there are no surviving parents or Trustee….
  • A family member of the deceased client must provide “proof of death” of the demise of the biological parent of the minor.

2.1.1 CLAIMS PROCEDURE; DOCUMENTS REQUIRED FOR DEATH CLAIM
Submission of medical certificate of cause of death or in the absence of this any of the following is acceptable:

  • A Letter from an opinion leader such as an Imam/a Reverend Minister/an Assembly man.
  • Death certificate
  • Autopsy report
  • Coroner’s Report
    • Completion of Death Claims Report ‘1’.
    • Any national ID card of the claimant.
    • Policy Certificate or Document
    • A sworn affidavit of the claimant(s)
  • An interview section with claimant(s) may be required where necessary
    NB.: The claim could be paid within 24 hours if all requirements are met.

2.2 MATURITY CLAIMS
Maturity claims could be made where the policy lives up to the full term.

  • Claims Procedure/Requirement;
  • Completion of an application form.
  • Provision of policy certificate.
  • Provision of any national ID card.

NB: Turnaround time is three (3) hours if all requirements are met.

2.3 PRODUCT LINE CLAIMS
2.3.1 BANK ASSURANCE
Claims Procedure/Requirement;
a. Death
1. Submission of medical certificate of cause of death or in the absence of this any of the following documents is acceptable.

i. A Letter from an opinion leader such as an Imam/a Reverend Minister/an Assembly man.
ii. Death certificate
iii. Autopsy report
iv. Coroner’s Report

2. Completion of death claim report ‘1’.
3. Provision of a claim application letter on behalf of the deceased client from the bank.
b. Disability/Incapacitation Claim
1. A medical report
2. Amortization schedule from the bank/organisation.

2.3.2 LOAN PROTECTOR
Claims Procedure/Requirements;
a. Death Claim
1. A medical report (cause of death, autopsy etc )
2. A claim application letter on behalf of the deceased client from the bank.
3. An amortization schedule from the bank.
b. Disability/Incapacitation Claim
1. A medical report (indicating extent of Disability/incapacitation)
2. An amortization schedule from the bank/Institution in question.

GROUP SECURITY PLAN
Claims procedure/requirements;
a. Death Claim
b. A medical report (cause of death, autopsy etc.)
c. A claim application letter on behalf of the deceased client from the bank.
b. Disability/Incapacitation claim
1. A medical report (indicating extent of Disability/incapacitation)
2. An amortization schedule from the bank/institution

2.3.3 PERSONAL ACCIDENT
Claims Procedure;
1. Completion of a personal accident claim form.
2. Provision of any national ID card.

2.3.4 MORTGAGE PROTECTION POLICY
Claim Procedure;
1. Submission of medical certificate of cause of death or in the absence of this any of the following is acceptable.

i. A Letter from an opinion leader such as an Imam/a Reverend Minister/an Assembly man.
ii. Death certificate
iii. Autopsy report
iv. Coroner’s Report

2. Provision of the policy certificate or document.
3. A letter of claim from the institution.
4. An amortization schedule from the bank/Institution

3.1 Partial Withdrawal

The policyholder can apply for a partial withdrawal two years after the inception of the policy and subsequently on the anniversary of the first partial withdrawal .

Claim procedure/requirement;
Completion of an application form.
Provision of any National ID card.
The partial withdrawal granted can be up to 60% of the cash value of the claimant.

NB: Turnaround time is three (3) hours if all requirements are met.

3.2 POLICY LOANS

The policy holder would be qualified to apply for a policy loan after one year from inception.

Claim procedure/requirement;
Completion of an application form.
Provision of any National ID card.
NB: Amount of loan granted would be 80% of the assured’s cash value. The interest rate payable is 15% per annum.

Repayment can be done through the following:

  • By source deduction; that is directly from the employee’s Salary
  • The Banks through Direct Debit Mandates (DDM).
  • Repayment by cash/ cheque.
  • Repayment through mobile money (dial *714*911# and follow the prompt or you can also call customer service line 0501-570652 for assistance)

NB: Turnaround time is three (3) hours if all requirements are met.

3.3 SURRENDER

The policy may be surrendered at least after three (3) years from the inception date.

Claims Procedure;

  • Provision of policy document(s).
  • Provision of any national ID card.
  • Completion of an application form.

NB: Turnaround time is maximum two(2) days if all requirements are met.

3.4 REFUNDS

Claims Procedure;

  • Completion of an application form.
  • Provision of payslips
  • Provision of any national ID card.
  • NB: Turnaround time is three (3) hours if all requirements are met.