SUNSET PLAN

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Description

Our Sunset Plan is a burial insurance that pays in advance for your funeral expenses thus removing the financial burden from your loved ones.

About the Plan

    • No medical examination required.
    • Pays up to Maximum of EC$30,000 or G$500,000.
    • Can be extended to cover parents and four children.
    • CashValue payable after a specified period.
    • Full Sum Assured payable once death occurs after the 2nd Policy Anniversary.
    • Is Guaranteed Renewable.

Assignment of Benefits

Benefits can be assigned to a specific funeral home or an individual. GTM will pay the total cost of the funeral up to the sum assured upon the death of the insured, once a certification of death is received from a qualified physician.

Eligibility

Individuals between the ages of 18 and 70 who can confirm that they have no serious health issues are eligible.

Premiums

If the policy covers a family, the premium rate will be based on the age of the older spouse. Your premium will never increase due to age, nor can you be singled out for a rate increase due to deteriorating health. The only way your premium rate can change is if the same change is applied to all insured individuals in your age and rate class. Premium payments cease after the first anniversary following the insured’s 80th birthday. If the policy covers a family, premiums are payable until the first policy anniversary after the older spouse’s 80th birthday or after 10 years, whichever is later.

Benefits

  • Death Benefit payable during the first 2 years:
    • Natural Causes: 50% of total premiums paid.
    • Accidental Death: 15% of total premiums paid.
  • After the first 2 years: The full sum insured will be payable.

Exclusions

Benefits are not paid if the insured:

  • Commits suicide within the first two years of coverage.
  • Dies as a result of an accident while under the influence of alcohol or drugs, or while participating in insurrection, war, military service, a riot, or committing or attempting to commit a criminal act.

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