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Phoenix Farewell Journey
This is a term insurance to age 80 which provides a level Death Benefit in the event of death of the primary insured; the benefits can help pay for funeral related and final medical expenses.
It has a family insurance benefit Rider which provides cover for the secondary assureds who are related to the insured, his/her spouse, children, parents, in-laws and business partners.
This policy does not provide any Cash / Maturity value
The Phoenix Farewell Journey Policy has been structured under three product variations namely: Standard, Champion and Executive.
Premiums are to be paid up to age 65 or a minimum of ten years of payment must be made. Premiums are then waived after age 65 or after ten years of premium payment if the primary insured took the policy beyond age 55.
Additional Benefit by Riders
1. Automatic benefit update: This provides for 7.5%, 10%, 15% and 20% increases in death benefits with a corresponding increase in premium of 10%, 15%, 20% and 25% respectively.
2. Personal accident rider for an additional premium.
Download FAREWELL premium RATES
Issue (Entry) and Expiry Ages
The issue, entry or inception age is the age at which
an insured could be accepted to participate in the
funeral plan. The minimum and maximum issue
age means the range of ages for the various
insuring groups as shown in the table. The expiry
age is the age at which the cover for a particular
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