Fidelity Bank Ghana Limited and Prudential Life Insurance Ghana have launched insurance solutions to protect Ghanaians from life misfortunes.
The Hospital Cash Plan, which is the first of its kind in Ghana, provides financial support for customers who suffer some form of income loss due to hospitalisation.
Customers can pay about GH¢15 per month to receive up to GH¢100 per day after being hospitalised. Customers can also receive a 25 per cent refund when a claim is not made for two years.
There is also the Farewell Plan which provides protection against the financial pressures that come with funeral expenses following an unexpected death. The Farewell Plan comes in two options — Classic and Premier. Customers can pay as little as GH¢20 per month to receive a lump sum of up to GH¢15,000 for the Classic. Under the Premier Plan, customers can pay GH¢300 per month to receive a lump sum of up to GH¢50,000, which is the largest amount available in Ghana.
Agreement and way forward
The launch of the plans follows the signing of an agreement between Fidelity Bank and Prudential Life Insurance in August last year. The partnership allows Fidelity Bank’s customers to buy Prudential’s products in almost 80 branches throughout Ghana.
The Deputy Managing Director of Fidelity Bank, Mr Jim Baiden, said: “We are delighted to launch the Farewell and Hospital Cash Plans with Prudential, one of the world’s leading life insurance companies. We are dedicated to helping our customers build better futures by offering innovative and affordable products that meet their needs.”
He added that the bank was looking forward to working with Prudential over the coming years to grow their insurance portfolio.
The Chief Executive of Prudential Ghana, Mr Emmanuel Aryee, said Prudential was committed to helping people throughout Ghana to protect themselves and their families from life’s misfortunes.
“We are leading the way with these products, particularly the Hospital Cash Plan, which is the first of its kind in Ghana. We are proud to partner Fidelity Bank and we look forward to helping Fidelity’s customers plan for the future.