Zenith Bank Ghana Limited, one of the most reputable and innovative banks in Ghana, and Prudential Life Insurance Ghana, one of the leading insurers in the country, have entered into a long-term partnership.
They have subsequently launched four innovative bancassurance solutions to protect Ghanaians, namely the Zenith Life, Education, Farewell and Hospital Cash Plans.
The launch will enable Zenith Bank’s customers to buy Prudential’s high-quality and innovative insurance products in the bank’s 36 business locations across the country.
The launch follows Prudential Group’s acquisition of a majority stake in Zenith Life of Nigeria and an exclusive bancassurance partnership with Zenith Bank Nigeria in July 2017.
The Zenith Life Plan is a novel income protection product in Ghana with unlimited cover, guaranteeing 100% 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 5 and 52 years.
The Zenith Life Plan also covers 10 critical illnesses and entitles customers to an innovative free annual health check.
The Zenith Education Plan enables parents to save for school or university fees.
Parents can save as little as GHS 50 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 one of the only education plans in Ghana to feature a unique 4% bonus which is awarded to parents at maturity of the policy.
The Zenith 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 GHS20,000 for the Classic and GHS50,000 for the Premier. The Farewell Plans also have a unique ‘Never Lapse’ feature which guarantees policy holders their benefits throughout the policy’s term irrespective of missed premium payments.
The Zenith Hospital Cash Plan, is one of the first in Ghana, providing 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 GHS200 per day after being hospitalized. Customers can also receive a 25% refund when a claim is not made for 2 consecutive years.
Henry Oroh, Managing Director/Chief Executive Officer of Zenith Bank, said: “We are delighted to be launching these amazing life insurance solutions with one of the world’s leading life insurance companies. Delivering desirable products and services to our customers is at the heart of our success. This partnership offers our customers a great way to buy an array of innovative insurance products that would help them live a better quality of life by planning adequately for life’s uncertainties. 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: “Our partnership with Zenith Bank will add to the growth we have already achieved and brings us closer to our goal of becoming the life insurer of choice for Ghanaians. We are proud to partner with Zenith Bank, one of Ghana’s leading banks, and we look forward to helping its customers plan for the future with innovative insurance products.”
About Zenith Bank
Zenith Bank (Ghana) Limited, a subsidiary of Zenith Bank Plc, was incorporated in April 2005 under the Banking Act 2004 (Act 673) as a private limited company and commenced universal banking operation in September 2005. The bank’s parent, Zenith Bank Plc, has built a reputation as one of Nigeria’s strongest banking brands and one of the country’s largest banks by market capitalization, profitability and total assets.
Zenith Bank Ghana has followed sturdily in the footprints of its parent and is currently one of the strongest and most profitable banking brands in Ghana. Zenith is also one of the largest banks by asset size in the country. The Bank’s branding has been anchored on continuous investment in people, technology, and excellent customer service.
The Bank currently has thirty six (36) business offices (branches and agencies) in Ghana. Other service delivery channels include the numerous ATMs and Points of Sale terminals strategically located in various cities and towns countrywide. The bank also offers mobile and internet banking services which enable customers to access banking services on-the-go. Zenith’s main objective for deploying these state-of–the-art delivery channels is to bring banking services closer to its customers while ensuring the service is faster, easier and better than anything customers have ever experienced.
Over the last thirteen years, Zenith has improved its capacity, size, market share, and industry rankings in all parameters. The Bank has built financial, structural and technological muscle and has established its presence across the country.
Zenith Bank is a customer focused bank that places utmost priority on the satisfaction and delight of its customers. Recognising that the Bank is in business because of the invaluable support and patronage of customers, Zenith Bank has ensured that excellent customer experience is at the centre of its customer service strategy.
Zenith Bank’s goal is to be THE MARKET LEADER, in the next five (5) years with its key focus areas centred on Customer Service delivery, financial performance and brand repositioning.
About Prudential Ghana
Prudential Life Insurance Ghana is one of the top five life insurance companies in Ghana. It employs approximately 100 staff and more than 1,000 agents and has over 1.8 million customers. Prudential is a wholly owned subsidiary of Prudential Plc and is committed to building a leading life insurance business in Ghana.
About Prudential plc
Prudential plc and its affiliated companies constitute one of the world’s leading financial services groups, serving around 24 million insurance customers, with £635 billion of assets under management (as at 30th June 2017). Prudential plc is incorporated in England and Wales and is listed on the stock exchanges in London, Hong Kong, Singapore and New York. Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America.
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Credit: Zenith Bank
