Prudential Life Insurance Ghana has introduced traders at the Okaishie Market, Accra, to its microinsurance product, ‘Mekakrawa’, aimed at making insurance accessible to people in the informal sector of the economy.
Dr Hazel Berrard Amuah, the Chief Executive Officer (CEO) of Prudential Life Insurance, speaking at an activation event at the Okaishie Market, praised the micro-insurance product, noting that the company would continue to develop innovative insurance products to meet the need of Ghanaians within different income brackets.
Dr Hazel Berrard Amuah explained that the activation forms part of efforts by the Company to educate and empower Ghanaians, especially, those in the informal sector of the economy to have a reliable safety net and be more protected in the future.
The Chief Executive Officer (CEO) of Prudential Life Insurance further clarified that the micro-insurance product sought to bridge the insurance gap and ensure that individuals protected themselves and their families from any unforeseen circumstances. She averred that individuals could subscribe to the policy with a minimum of GHS3.00 and a maximum payment option of GHS45.00.
The ‘Mekakrawa’ micro-insurance enables individuals to proactively plan and prepare for their future, and safeguard themselves against risks, including, permanent disability, natural and accidental death, and critical illness.
Procession Through Some Principal Streets
To reach more Ghanaians with the education and empowerment programme, the Company organised a procession through some principal streets, including Danquah Circle and Oxford Street around Osu, and the Ministries.
The direct public engagement about the ‘Mekakrawa’ micro-insurance policy saw brand ambassadors, including Mr Fred Amugi, Kojo Nkansah ‘Lilwin,’ and Afronita, join the Prudential Life team to address the potential clients.
While urging the traders to sign on to the ‘Mekakrawa’ policy, the brand ambassadors encouraged the public to ignore the misconception that insurance was solely for the elites.
To demonstrate accessibility of the product, Kojo Nkansah paid for one-year subscription for ten head porters, using the GHS45 option.
Kojo Nkansah explained that his gesture is to encourage Ghanaians in the informal sector to take insurance seriously for their future.
‘Mekakrawa’ is an innovative product designed to make insurance more accessible and meaningful for the ordinary Ghanaian and stands as a testament to the brand’s commitment to the Ghanaian community, offering them a reliable safety net for a more protected tomorrow.
The ‘Mekakrawa’ policy insures the subscriber and one dependant against the loss of life due to natural and accidental death. In addition, the subscriber only, is also covered against total permanent disability and four major critical illnesses.
The minimum age on entry for the subscriber is eighteen (18) years and maximum age is fifty-nine (59) years. Cover for total permanent disability and critical illness ceases at sixty-five (65) years. The minimum age on entry for the dependant is zero (0) years to a maximum of seventy-four (74) years.
There is a waiting period of 3 months where no death and critical illness benefits are payable. This will not apply to the accidental death and total permanent disability benefits.
Prudential is one of the world’s oldest and strongest life insurance companies and successfully launched into the Ghanaian market in March 2014 with Prudential Ghana. Its aim is to change the face of Ghana’s insurance industry with world-class products and services. It has been providing long-term protection and investment opportunities for more than 165 years, from serving working families in Victorian Britain to supporting our 24 million insurance customers around the world today.