A part of efforts to increase insurance penetration in the country, leading life insurance underwriting company in Ghana, Enterprise Life, has launched a new insurance package, primarily for the persons who are 60 years and above.
The product, “Annuity Prime” which is also targeted at pensioners is a single product endowment and is designed to give the pensioner a monthly salary.
General Manager, Operations at Enterprise Life, Solace Odamtten-Sowah, highlighted some of the benefits of the product at a ceremony to celebrate the company’s 20 year anniversary.
“Annuity package which is targeted towards people 60 years and above and for pensioners. Basically this is new in the market and we realised that we have not touched that much particular age group. So, it’s a single premium immediate annuity which seeks to take care of the pensioner when he or she is not working anymore and the plan is to give them a monthly salary throughout their entire lives so far as they buy an annuity policy with us. So, it’s a simple policy. Once you buy it, all it means is that you just have to relax and the next 19 years and more and throughout your lifetime you would be earning a monthly salary, such that you wouldn’t have to fall on others and be dependent on others when you go on retirement. So it starts from when you plan at the age of 60 and annuity comes in to takes care of the long term, “ she said.
The company also used the occasion to share two revamped products, Bloom by Enterprise Life, formally Lady Care, which is an all-female product from women between the ages of 18 – 54 designed to cover female related illnesses, death, total permanent disability and critical illness of the policyholder.
The product has a host of benefits such as free child benefits, medical reimbursement, and death amongst others. The second product is Family Income Security Plan which used to be Family Income Protection Plan, designed to replace income in the event of death, total permanent disability and critical illness of a policyholder or spouse as well as other embedded benefits.
Group Chief Executive Officer, Mr. Keli Gadzekpo also expressed his gratitude to their loyal customers for sticking with them for two decades. He also went ahead to dedicate the new products to its customers.
“As we appreciate you for being instrumental in our success story, we would also like to celebrate the success of our business.
Dr. Justice Ofori, Commissioner of the National Insurance Commission, who delivered a message on behalf of the Commission said, “Enterprise life since its inception has been a major part in Ghana’s insurance industry-leading in many critical areas and designing responsive products that speak to the needs of the insurance market. It is a pleasure to know that at this appreciation event, the enterprise is unveiling a new product and two enhanced products for the Ghanaian market.” “We congratulate enterprise on the attainment of 20 years and continuous success”, Mr. Ofori Added.
Enterprise Life, has as part of its 20th Anniversary also rewarded its clients who have been loyal to the company.