Old Mutual Ghana introduces new funeral plan
Old Mutual Ghana has introduced an enhanced funeral plan with a cover of GH¢50,000.
Advertisement
The Transition (Funeral) Plan is a product designed to cater for a major component of the costs associated with funerals. The plan pays a lump sum on the death of the policy owner or selected spouse, children, parents and/or parents-in-law.
Premiums are paid for a maximum of 15 years but the policyholder as well as all the selected dependents enjoy cover for the whole of their lives.
The product aims to process and pay claims within 48 hours of reporting the claim provided all necessary documentation is submitted on time.
The product also has a cash back clause whereby every five years, if the policy is still in force, the policy holder gets back 10 per cent of the premiums he/she has paid.
Importance
The marketing executive of Old Mutual Ghana, Ms Rita Boateng, explained that the introduction of the product followed the organisation’s constant desire to meet the financial needs of the Ghanaian customer.
She said the enhanced funeral plan was not only easy for customers to understand but also offers value for money.
“From an Old Mutual perspective, we aim to enable positive futures in communities within which we operate. Offering life assurance products that are relevant gives us that opportunity to assist our customers to achieve their financial goals, even in times of difficulty,” he said.
Old Mutual, a relatively new entrant on the Ghanaian insurance landscape — having rebranded only about a year ago — is one of the largest and most respected insurers in the world.