Fidelity Bank, Prudential launch innovative insurance solutions
Fidelity Bank Ghana Limited and Prudential Life Insurance Ghana have launched two innovative Bancassurance solutions to protect its patrons, the Fidelity Education Plan and the Fidelity Life Plan.
The two new solutions follow the success of the Hospital Cash Plan and Farewell Plan, launched under a partnership between Fidelity Bank and Prudential in August 2015. All Bancassurance products will now be available to Fidelity Bank customers throughout any of its 73 branches.
The Fidelity Life Plan is the first income protection product in Ghana with unlimited cover, guaranteeing 100 percent reimbursement of all premiums if customers outlive the term of the policy without making a claim. Cover can be provided for as little as GHS 29 per month for between five and 52 years. The Fidelity Life Plan also covers 10 critical illnesses and entitles customers to an innovative free annual health check.
The Fidelity Education Plan enables parents to save for school or university fees. Parents can save as little as GHS 30 per month for between 8 and 25 years. The assurance provided by this policy is the continuous payment of premium on behalf of the parent in the event of death or permanent disability. It is the first education plan in Ghana to feature a unique four percent bonus which is awarded to parents at maturity of the policy.
Jim Baiden, Managing Director of Fidelity Bank, said: “We are delighted to launch the Fidelity Education Plan and the Fidelity Life Plan 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. We look forward to working with Prudential over the coming years as we grow our insurance portfolio.”
Emmanuel Aryee, Chief Executive of Prudential Ghana, said: “Prudential is committed to helping people throughout Ghana protect themselves and their families from life’s misfortunes. We are leading the way with these products, particularly the Fidelity Life Plan, which is the first of its kind in Ghana. We are proud to partner with Fidelity Bank and we look forward to helping Fidelity Bank customers plan for the future with our innovative products.”