2018-11-15 by Admin
Policy pays GHc20,000.00 each to two beneficiaries
FELIN Insurance Brokers Ltd, in collaboration with Enterprise Life, has introduced a unique
life insurance policy that defies age limits of the insured. The Ultimate Group Funeral Policy provides. cover for persons of all ages in groups, associations or social clubs, with one policyholder able to insure the entire nuclear family plus parents and/or in-laws.
The policy, which is the first of its kind, entitles holders to varying sums of benefits from GH¢5,000 to GH¢20,000.
The Chief Executive Officer of Felin Insurance Brokers, Mr Franklin Gbena, who disclosed this during claims payment to a beneficiary in Tema, said the policy also neutralised certain prerequisites of traditional life insurance policies, such as medical underwriting requirements.
He said not only did the policy offer competitive premiums, but it could be tailored to the needs of groups or associations, the main targets of the policy. In addition to the nuclear family, the primary cover under the policy, the holder could opt to insure up to four parents, meaning the parents of spouses could be covered as well,
he added.
Groups
Mr Gbena explained that for the flexibilities and competitiveness it provided, the cover was offered to groups with a minimum membership of 30 people. It was, therefore, suitable for groups, unions, associations, clubs and other identifiable groups in the formal and informal sectors to take funeral expense burdens off their heads.
The CEO of Felin Insurance Brokers said the Ultimate Group Funeral Policy could be taken as a complement to the Group Life Insurance which was mandatory for corporate
institutions against their employees over accidental permanent disability.
Claim
So far, two staff of the Volta River Authority (VRA) and the Northern Electricity Development Company (NEDCo) have been
paid GH¢20,000 benefit each against the passing of their parents. Mr Gbena called on groups and welfare associations to contact Felin or Enterprise to sign on "to the policy to the benefit of all.
About Felin, Enterprise Life
Felin started operations in 1995 as an agent of the then M~ropolitan Insurance, now Hollard, and later managed the company's offices in Akosombo and Techiman, where it sold a lot of life policies and managed motor
fleet of companies. It later acquired a licence and started operations as a broker in 2013 and now acts as an interface between clients and their insurance companies. Enterprise Life operates as a specialist life insurance company, incorporated in 2000 to provide affordable and innovative life
assurance products to. meet the needs of policyholders and the public.
The company distributes life insurance through a diversified distribution channel comprising agencies, brokers and bank channels. Enterprise Life now has representation in all 10 regions in the country.
By Samuel Doe Ablordeppey, Daily Graphic Accra
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