Fidelity Bank and Prudential launch innovative insurance solutions

April 7, 2016
Source: thebftonline | Ghana
Fidelity Bank and Prudential launch innovative insurance solutions

Fidelity Bank Ghana Limited and Prudential Life Insurance Ghana have launched innovative insurance solutions to protect Ghanaians from life’s misfortunes.

The Hospital Cash Plan, which is the first of its kind in Ghana, provides financial support to customers who suffer some form of income loss due to hospitalization. Customers can pay about GHS15 per month to receive up to GHS100 per day after being hospitalized. Customers can also receive a 25 per cent refund when a claim is not made for two years.

The Farewell Plan 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 GHS20 per month to receive a lump sum of up to GHS15,000 for the Classic. Under the Premier Plan, customers can pay GHS300 per month to receive a lump sum of up to GHS50,000, which is the largest amount available in Ghana.

The launch of the plans follows the signing of an agreement between Fidelity Bank and Prudential in August last year. The partnership allows Fidelity Bank’s customers to buy Prudential’s products in almost 80 branches throughout Ghana.

Jim Baiden, Deputy Managing Director of Fidelity Bank, 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. 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 Hospital Cash 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’s customers plan for the future with our innovative products.”