Korba, a Ghanaian multi-channel electronic platform, has partnered with Prudential Life Insurance Ghana to provide life insurance cover at no additional cost for its existing customers, as part of its initiative to respond effectively to the current realities of COVID-19.
The cover will provide financial support to Korba’s customers through two policy benefits – the hospital cash plan (HCP) and the death or total permanent disability (TPD) plan. The cover will be provided through its ‘Korba Care’ customer loyalty and rewards scheme.
In addition, claims will be paid according to the level of transactional activity on Korba to customers or their named beneficiaries with sum assureds up to GHS10,000 ($1,730) for death or TPD, and daily cash pay-outs of GHS100 for up to 30 days of hospitalisation.
Korba chief enabling officer Nelson Korshi Da-Seglah said, “Working closely with Prudential Life, we have also ensured the policy responds effectively to the current realities of COVID-19. We at Korba understand that ‘we are’ because of our customers. As such, we are rewarding them with free cover as they ‘live their life’ by running their normal data and airtime top-ups, fund transfers and bill payment transactions on Korba.”
Korba head of retail strategy Joyce Sarpongmaa Asante said, “In addition to the benefits of the HCP and TPD/death, customers are also entitled to complimentary COVID-19 cover. This includes a diagnosis benefit which pays a lump sum once an official diagnosis of the COVID-19 is received; a hospitalisation benefit that provides the customer with daily cash pay-outs up to 30 days and a death benefit that pays a lump sum to the customer’s beneficiaries as a result of a COVID-19 death.”
Prudential Life Ghana chief executive Emmanuel Aryee said, “We share similar goals with Korba, which is to use innovation to drive value for our mutual customers that will simplify their lives.
“In this case, it is to de-risk their lives of future uncertainties and help them look into the future with confidence. This partnership presents a great opportunity to serve a market that is often overlooked by traditional channels of insurance, thereby contributing to bringing the benefits of life insurance to more Ghanaians.”
Source MEIR
