Allianz Life introduces micro-insurance policies for informal sector

BY: Daily Graphic
Mrs Jane Kitome (left) with some of the traders at the Kaneshie market
Mrs Jane Kitome (left) with some of the traders at the Kaneshie market

Allianz Life Insurance has introduced two micro-insurance products to address the investment and funeral-related planning needs of workers in the informal sector.

The two policies, namely Allianz Anidaso and Allianz Apomuden have been designed to provide savings plans making use of the traditional “susu” model to enable patrons to accumulate funds to meet their short and long-term needs.

The Head of Alternate Distribution Channels at Allianz Life, Mrs Jane Kitome, spoke about the two micro-insurance products.

“The Allianz Anidaso is for the day you lose a loved one or you bow out of this world.

While building wealth, let Allianz Anidaso take care of the funeral costs and other living expenses during the trying period of the loss of your loved one,” she said.

She added that the Allianz Apomuden is a hospital care product which caters for all hospital bills of clients or one family member of this same client in the informal sector who is signed onto the product.

“If you get admitted to the hospital, you are paid to cater for the income you lose while you are there,” she said.

Demystifying the myths

Mrs Kitome noted that the insurance products were designed to demystify the myths surrounding insurance policies in order to encourage people in the informal sector to venture into insurance.

She indicated that the products served as security and a source of hope when unexpected circumstances emerged.

“We encourage the people in the informal spaces to save money and while they do that, they have the opportunity to also make savings so that in the short to medium term, they can have these monies.

So at the end of the day, you enjoy protection, as well as interest.

Also, you get your money back. You can opt to surrender along the way,” she said.

According to her, with a minimum monthly contribution of GH¢ 8.00, a client could be signed onto any of the two products to enjoy the flexibility of making withdrawals after every four months.

She added that the money saved under any of those insurance policies matured after three years with interest.


The Chief Executive Officer (CEO) of Allianz Life Ghana, Mr Gideon Ataraire, allayed the fears of the public and assured them of the safety of the policies.

He stated that a lot of research went into developing the two insurance products to ensure smooth implementation.

Record keeping

Mr Ataraire also assured clients of good record-keeping methods with the help of technology whenever payments and deductions were made.