Prudential Life Insurance (PLI) has launched a micro insurance policy to protect people against uncertainties in life.
The new policy known as “Mekakrawa” insures a subscriber and one dependent against the loss of life due to natural and accidental death, permanent disability and critical illness.
A news brief on the policy said it was essential to prepare for the worst in life because life was full of unpredictable twist and turns.
It said that those unpredicted emergencies could leave one financially vulnerable if he or she did not have any insurance to rely on.
The natural and accidental death component of the policy would ensure that benefits are paid to the beneficiary of the policy when the policyholder dies.
However, if the dependent dies, then the benefit will be paid to the subscriber.
The permanent disability insurance covers the payment of benefits when the subscriber becomes permanently disabled through the loss of the use of two limbs, or both hands, or loss of sight, or two eyes and in the event of total paralysis.
The critical illness component insures one against critical illness such as cancer, stroke, kidney failure and heart attack.
The minimum age on entry for a “Mekakrawa” subscription is eighteen 18 years while the maximum age is 59 years.
The entry age requirement for dependent of “Mekakrawa” subscribers is zero while the maximum age is 74 years.
The amount of money needed for subscription ranges from GHS3 for a bronze policy, which comes with a benefit of GHS 975.
Subscribers can also go for the GHS4, Ruby policy, GHS9,Emerald policy,GHS22.5, Sapphire policy,GHc27,Pearl policy,GHS36,Gold policy, GHc45, Diamond policy which comes with different benefits.
To be able to make a claim, one has to wait for a period of three months after subscription in the case of death and critical illness.
The waiting period, however, did not apply to accidental death and total permanent disability benefits, the brief said.
The identification documents one need in order to make a claim is the National ID (Ghana Card), or Voters ID, or Passport, or Driver’s License.
Some benefits may need a police report, death certificate or other legal documents.
One can subscribe at the comfort of the home using *778# on MTN or request a callback for a “Mekakrawa” subscription.