CalBank and Prudential Launch Innovative Insurance Solutions
The CalBank Education Plan enables parents to save for their children’s school or university fees with as little as GHS50 per month for between eight and 25 years. The product features a unique 4 per cent bonus which is awarded to parents when the policy matures.
The CalBank Farewell Plan provides security for customers’ families by paying for funeral expenses following an unexpected death. Customers can choose between the Classic and Premier options to suit their needs. The Classic Plan guarantees a cash pay-out of GHS15,000, while the Premier Plan provides up to GHS50,000 with as little as GHS20 per month.
The launch follows an agreement signed between CalBank and Prudential Life in February 2016 allowing CalBank’s customers to buy Prudential life’s insurance products in the bank’s 28 branches throughout Ghana.
Philip Owiredu, Executive Director of CalBank, said: “We are delighted to announce the launch of the CalBank Education and Farewell Plans with Prudential, one of the world’s leading life insurance companies. We are committed to offering our customers the best possible range of products underpinned by our superior technology platform and look forward to working with Prudential in the coming years as we grow our insurance portfolio.”
Emmanuel Aryee, Chief Executive of Prudential Life Insurance Ghana, said: “Prudential is committed to helping people throughout Ghana protect themselves and their families from life’s misfortunes. We are proud to launch these high quality products with CalBank and look forward to helping its customers plan for their future.”
Currently the most innovative indigenous bank in Ghana, CalBank began operations in July 1990 and provides world-class financial solutions to the Ghanaian banking sector. CalBank received its universal banking licence in 2004. It provides a broad range of banking and financial solutions to large corporations, small and medium-sized enterprises, public sector institutions and retail customers through a network of 28 branches and over 100 ATMs across Ghana. For more information visit www.calbank.net.
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.