As part of its efforts to increase insurance penetration especially within the informal sector, Allianz Ghana has launched two microinsurance policies.
Allianz Anidaso which covers funeral expenses and Allianz Apomuden which is a hospital cash product which provides for a daily amount to replace the income lost when a named beneficiary is hospitalized. Both policies have a susu component which also allows clients to accumulate funds daily to meet their short and long-term needs.
With a monthly premium contribution of a minimum of GHC4.00 for Anidaso and GHC6.00 cedis for Apomuden, a client can be signed onto any of the two products and has the flexibility of making withdrawals after every four months.
Also, the monies saved under any of these insurance policies mature after three years. Speaking at the launch, Head of Alternate Distribution Channels of Allianz Ghana, Jane Kitome, said these products by Allianz are designed to demystify the myths surrounding insurance policies in order to encourage people in the informal sector to venture into insurance.
She explained that, “Allianz Anidaso takes care of the funeral costs and other living expenses during the trying period of the loss of your loved one,” she said.
Madam Kitome explained that with the Allianz Apomuden plan, “If you get admitted to the hospital, Allianz pays you for every night that you are hospitalized to cater for the income you lose while you are there.”
She indicated that the products served as security and a source of hope when unexpected circumstances such as hospitalization or death occurred.
“We encourage the people in the informal spaces to take out insurance against life’s eventualities and while they do that, they have the opportunity to also save money through the susu aspect so that in the short to medium term they can access these funds.
For his part, Chief Executive Officer of Allianz Ghana, Gideon Ataraire allayed the fears of the public and assured them of the safety of the policies.
He stated that a lot of research went into developing the two insurance products to ensure smooth implementation.
Mr Ataraire also assured clients of good record-keeping methods with the help of technology whenever susu payments and policy deductions were made.