StanChart, Prudential Life collaborates to launch new product

Standard Chartered Bank Ghana Limited, Prudential Life Insurance Ghana has entered into partnership to launch savings and educational plans designed to help parents and guardians fund the best possible future for their children.

According to the statement, the Future Need and Future Plus plans enable parents to save towards the cost of their child’s education with the promise of a guaranteed contribution from Prudential Life.

In the event of the permanent disability or death of a parent or guardian, Prudential Life will provide benefits to support families’ ongoing financial commitments.

Additionally, Customers can save between ¢100 and ¢1,000 each month with the Future Needs plan. Customers can save between ¢400 and ¢5,000 each month with the Future Plus plan which is aimed at customers who wish to fund their children’s education abroad.

Prudential Life will award a 4 per cent of total premium bonus at the end of the policy if all premiums have been paid.

Commenting on the partnership, Setor Quashigah, ED, Head Wealth Management at Standard Chartered Bank Ghana said, “Funding educational needs is a priority for most of our clients. As a bank, we ensure this becomes a reality whether they are healthy, permanently disabled and even in death.”

Also commenting, Achumile Majija, Chief Commercial Officer at Prudential Life Ghana, said:  “We partnered with Standard Chartered Bank to provide tailored life insurance products and services that suit the needs of Ghanaians today.

Majija added that,“Our Future Needs and Future Plus plans to provide parents with peace of mind that their children’s education will be covered even if there was a sudden loss of income due to death or permanent disability.”