Hollard Life Assurance Ghana, a leading company in Ghana’s life assurance space has launched three unique life insurance products that are tailored to suit the needs, and wants of every Ghanaian.
The three new products; namely, Adepa Wo Fie, Adepa Goal Save and Adepa Saving Plan, dubbed the “Adepa Three”, is said to offer Ghanaians unique ways to secure better futures.
The ‘’Adepa Wo Fie’’ is a simple family-oriented plan with a single premium where your spouse and 5 of your children are covered for free. With as low as GHC27.00 a month, you can cover 7 members of your family.
The ‘’Adepa Goal Save’’ product is designed for everyone with a specific target goal within a medium to long term. Set your goal and your timeline and we will quote the fixed monthly contributions needed to achieve the goal set. Your goal amount is assured even in the event of death.
While the ‘’Adepa Savings Plan” is designed for everyone who has a need for savings and a much secured future especially those who earn regular incomes (both formal and informal). The plan permits partial withdrawals and gives very flexible access to policy benefits after 5 years.
Mr Nashiru Iddrisu, Managing Director, Hollard Life Assurance Ghana
Addressing a gathering at a short but impressive launching ceremony at the forecourt of the company’s head office building in Accra, the Managing Director, Hollard Life Assurance Ghana Mr Nashiru Iddrisu, said he was very excited that the life insurance industry in Ghana is becoming more competitive and thriving.
According to him with over 20 players in the life assurance space, any company worth its salt must be innovative in its approach to service delivery. “Life assurance is not just about simple life policies; it’s about the innovative benefits and terms that make difference in policyholders’ futures and these are what our Adepa Three stands for. Mr Iddrisu stated.
He explained that as part of his outfit’s strategy and desire to provide value-added products, and a first in the life insurance industry, last year, we at the Hollard Life Assurance Ghana launched the Adepa Family Plan.
The Managing Director, Hollard Life Assurance Ghana revealed that the Adepa Family plan introduced onto the insurance space last year is the only product that truly covers every member of the nuclear and extended family and up to 24 others.
The Adepa Family plan also gives free cover to five of the policyholder’s children with a guaranteed 20% of premium as money back after every five years, whether a claim was made or not. He added.
“Ladies and gentlemen, I’m proud to share that a total of GHC33.7M worth of cover has been insured by Hollard for individuals and their dependents or families since the introduction of our Adepa Family Plan in September last year.
On the success of the Adepa Family Plan, we’re excited to introduce the Adepa Three, and you would have noticed that our product names are prefixed ‘’ADEPA’’ meaning ‘’GOOD THING”. For, it is a good thing to enable more people to create and secure better futures with life insurance” Mr Iddrisu noted.
He was of the firm believe that Hollard’s Adepa three innovative products will bring joy, happiness and absolute peace of mind to breadwinners and their families.
“In every market we enter, Hollard is outstanding. As a purpose-led company, we leverage on technology, innovative distribution channels and skilled professionals with the right pedigree to manage life risks, be they individual, family or corporate. Why? Because we strongly believe in enabling more people to create and secure a better future.
Our triple-win business strategy means we look out for all stakeholders. A win for our customers and partners is a win for us! We take pride in being a great partner and remain committed to this purpose.” Mr Iddrisu indicated.
Facts about Hollard’s “Adepa Three”
Hollard Life offers you three main vehicles to enable you do this
– A standalone Discretionary Savings (Adepa Savings Plan)
– A standalone Goal Based Savings (Adepa Goal Save)
– A rider Savings Discretionary Plan to sit on your existing risk policy
The Savings Rider allows individuals to save their money while protecting their family at the same time, giving the policyholder and family guaranteed peace of mind.
- Savings benefit paid out upon death. Savings premiums are paid monthly and benefit is paid separately to death benefit.
- Savings benefit can be accessed after 5 years (annual access or can leave to grow). Upon death, remaining savings are paid out
Adepa Savings Plan (Stand Alone Discretionary)
“The Discretionary Savings Product allows one to save money in a way that is in line with his/her financial plan and aspirations; giving one full control and protection of their savings.”
- Adepa savings plan allows one to save any amount he/she wish (subject to minimum premium and term).
- It allows you partial withdrawals of funds if there‘s a need.
- Guarantees capital invested (if no withdrawals are made under 5years).
Key Features of all three Savings Products
- Combined risk and savings benefit
- 5-year “Investment Preservation Period” &“Minimum lock down period”
- Open-ended term (up to 20 years) giving flexibility and control
- Annual premium increase options independent of risk product
- Nominated beneficiaries
- Guaranteed capital
- Lean cost and commission structure
- Free Funeral Cover
Adepa Goal Save (Standalone)
“The Goal Based Savings Products allows you to reach your financial goals in a way that is tailored to your needs, wants and means; giving you full control of your savings, but at the same; protecting your savings and your goal because that is what we do.”
- The Savings premium is dependent on your goal. You will be able to choose the term and contribution amounts (subject to minimum premiums and investment terms). Minimum investment period is 5 years.
Additional Key Features
- Ideal for those saving for education
- Allows multiple goals (term, amount, premium) treated as a separate policies in the case of multiple education focused goals
- Mortality Premium waiver factored in for goal preservation
- Can be bought for saving for other goals – holiday, rainy day, and deposit
- Annual premium increase options built into product and premiums don’t increase even though target amount does
Story: Franklin ASARE-DONKOH
Writer’s email; firstname.lastname@example.org