GN Life Assurance, a subsidiary of Groupe Nduom, has unveiled its comprehensive life insurance product dubbed The Life Guard Plan at a short ceremony at the Coconut Grove Regency Hotel in Accra.
The new plan, according to Managing Director Fiifi Simpson, offers users financial security against the risks of death, permanent disability, and critical illness with the option of a second medical opinion.
“The question I have been asking myself in the last couple of years has been ‘after the funeral ceremony, what next?’ The real needs of the family should be catered for after giving the loved one a decent and dignified burial. We need substantial amounts to pay college fees and many other family expenses that funeral policies cannot cater for,” he said.
Touching about the main goal of the Life Guard Plan, Mr. Simpson noted that citizens who sign up for the GN Life Guard plan will have free access to a team of medical experts from a world leading medical centre under its ‘Medical Second Opinion’ offer.
According to him, the policy will grant those signed on to the plan access to experts who will provide accurate diagnosis of any critical illness and recommend the best treatment plan for any diagnosed condition.
“What we seek to provide as GN Life is a significant life cover as replacement income, enough money to cover permanent disability and critical illness [as well as] access to the best team of experts to confirm diagnosis when you are diagnosed of a critical illness, offer second opinion and in addition, recommend a treatment protocol,” he disclosed.
He added that this is the first time such a comprehensive Life Assurance Policy is being introduced to Ghanaians. This policy, he believes, will help deal with certain financial challenges faced by that lose their breadwinners through death or terminal illness.
“This is the very first in our industry where you have a product which has a life cover, disability, critical illness and on top of that, you have a treatment option made available to you by a team of experts. The real needs of the family need to be catered for after giving the loved one a decent and a dignified burial. What we really need is a substantial amount to pay college fees and many other family expenses that funeral policies cannot cater for, and that’s what we need as a market,” he explained.
The Life Guard Plan is available for people ages 18-59 and covers for permanent disability, critical illness, and death, with quick response times for all of these claims. “If none of these claims are made by the end of a term, 20percent of all premiums paid are returned,” he added.
The policy offers a basic life cover with the option to add either a Permanent Total Disability cover or Critical Illness with an embedded Medical Second Opinion cover or both. The Life Guard Plan offers Ghanaians the opportunity to have a life cover, ranging from GH¢50,000 to GH¢1,000,000
Many of the speakers tried to find tune to the question, “how long would your family survive if something happened to you today?”
Other speakers included Nyamikeh Kyiamah, GN Life Board Chairperson, Razak Abdul, Head-Underwriting of GN Life, and Samuel Eugene Bruce, COO of GN Life.