Business News of Mon, 20 Mar 20174
Fidelity Bank and Prudential launch innovative insurance solutions
Fidelity Bank Ghana Limited, the largest private indigenous bank in Ghana, and Prudential Life Insurance Ghana, one of the leading insurers in the country, have today launched two innovative Bancassurance solutions to protect Ghanaians, the Fidelity Education Plan and the Fidelity Life Plan.
The two new solutions follow the success of the Hospital Cash Plan and Farewell Plan, launched under a partnership between Fidelity Bank and Prudential in August 2015.
All Bancassurance products will now be available to Fidelity Bank customers throughout any of its 73 branches.
The Fidelity Life Plan is the first income protection product in Ghana with unlimited cover, guaranteeing 100 percent reimbursement of all premiums if customers outlive the term of the policy without making a claim.
Parents can save as little as GHS 30 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 the first education plan in Ghana to feature a unique four percent bonus which is awarded to parents at maturity of the policy.
Jim Baiden, Managing Director of Fidelity Bank, said: “We are delighted to launch the Fidelity Education Plan and the Fidelity Life Plan with Prudential, one of the world’s leading life insurance companies.
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 Fidelity Life 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 Bank customers plan for the future with our innovative products.”
Fidelity Bank was issued its universal banking license on June 28 2006, making Fidelity Bank Ghana Limited, the 22nd bank to be licensed by the Bank of Ghana under the new Banking Act, 2004 (Act 673).
Fidelity Bank was adjudged the Best Bank in Ghana at the EMEA (Europe, Middle East and Africa) Finance African Banking Awards.
About Prudential Ghana Prudential Life Insurance Ghana is one of the top five life insurance companies in Ghana. It employs around 80 staff and more than 800 agents and has more than 1.3 million customers. It is a wholly owned subsidiary of Prudential plc. For more information visit www.prudential.com.gh.
Prudential plc and its affiliated companies constitute one of the world’s leading financial services groups, serving around 24 million insurance customers, with £562 billion of assets under management (as at 30 June 2016).
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.