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Hollard Life Launches “Adepa Three” Insurance To Secure Better Future

Hollard Life Launches “Adepa Three” Insurance To Secure Better Future

News Date: November 27, 2019


Hollard Life Assurance Ghana has launched three brand new value-added products namely Adepa Wo Fie, Adepa Goal Save and Adepa Saving Plan dubbed the ‘Adepa Three’, following the success of its Adepa Family Plan which was released last year.

The products are aimed at bringing joy, happiness and absolute peace of mind to breadwinners and their families.

According to the company, a total of GHC33.7m worth of cover has been insured by Hollard for individuals and their dependents or families since the introduction of its Adepa Family Plan in September last year.

Speaking at the launch, Nashiru Iddrisu, Managing Director, Hollard Life Assurance Ghana said the products will bring relief to Ghanaians as well as create and secure a better future for prospective clients.

He said that the competitive and thriving insurance climate in the country was not just about simple life policies but about the innovative benefits and terms that make difference in policyholders’ futures.

“As part of our strategy to provide value-added products, and a first in our market, last year, we launched the Adepa Family Plan. This is a product that truly covers every member of the nuclear and extended family and up to 24 others.

The Adepa Family plan also gives free cover to five of the policyholder’s children with a guaranteed 20% of premium as money back after every five years, whether a claim was made or not, he added.”

Mr Iddrisu indicated that “on the success of the Adepa Family Plan, we’re excited to introduce the adepa three, namely, Adepa Wo Fie, Adepa Goal Save and Adepa Saving Plan. You would have noticed that our product names are prefixed “ADEPA” meaning “GOOD THING”. For, it is a good thing to enable more people to create and secure better futures with life.”

 

Adepa Three

“Adepa Wo Fie” is a simple family-oriented plan with a single premium where your spouse and 5 of your children are covered for free. With as low as GHC27.00 a month, you can cover 7 members of your family.

“Adepa Goal Save” is designed for everyone with a specific target goal within a medium to long term. Set your goal and your timeline and we will quote the fixed monthly contributions needed to achieve the goal set. Your goal amount is assured even in the event of death.

“Adepa Savings Plan” designed for everyone who has a need for savings and a very secured future especially those who earn regular incomes. The plan permits partial withdrawals and gives very flexible access to policy benefits after 5 years.

 

About Hollard Life Assurance

Hollard Ghana Holdings Limited was established to support the vision of becoming the country’s number one insurance group. Hollard Insurance Ghana, formerly called Metropolitan Insurance Company (MET) operated successfully in Ghana for 25 years, until it was rebranded as Hollard Insurance Ghana in 2015 and Hollard Life Assurance Ghana which started trading in 2018 are both subsidiaries of Hollard Ghana Holdings.

The purpose of Hollard Ghana is to enable more people to create and secure a better future by achieving exceptional, sustainable and inclusive growth and treating everyone with care and dignity. With our headquarters in South Africa and our feet firmly planted on Ghanaian soil, Hollard Ghana can deliver innovative insurance solutions that are customized to unique risks.

We are certified as a Top Employer by the Top Employer Institute.

Hollard Ghana Holdings Limited is a subsidiary of Hollard International which manages the international portfolio of the Hollard Group currently operating in 18 countries in Africa and Asia. Hollard International’s vision is to aggressively grow its insurance businesses in Ghana and will do so by creating dynamic, consumer-oriented insurance solutions that meet the needs of all Ghanaians.

The Hollard Insurance Group which was established in 1980 is today the largest privately-owned insurance group in South Africa with turnover exceeding $2.5 billion and assets in excess of $5.1 billion.

 Besides South Africa, Hollard Insurance has thriving operations, partnerships and investments in Namibia, Mozambique, Ghana, Botswana, Zambia, Australia, China, India, Pakistan and the United Kingdom.

 Our partnerships permeate all our day-to-day activities and we are focused on recognising like-minded partners, understanding respective strengths and driving long-term value through optimised structures to ensure mutual success.

Hollard provides bancassurance expertise for banking licenses in Botswana, Zambia and Ghana, with Kenya, Tanzania, Uganda, Egypt, Mauritius, Seychelles and Zimbabwe in the pipeline.

 Recently, the Tokyo Marine Group, the largest insurer in Japan and one of the world’s largest insurance groups, has partnered us through the acquisition of a 22.5% stake in Hollard South Africa and Hollard International for an investment of R5 billion.

This gives us access to Tokyo Marine’s global best practice in the areas of predictive analytics, robotics, risk management, underwriting and insurtech innovations.

Source: https://starrfm.com.gh

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General Questions


There are many insurance companies that offer Life insurance and many others that offer Non-life (General) Insurance in Ghana.You can go to any of these insurance companies and take out insurance.Once you contact them, their staff will advise you on what they offer and what is best suited to your insurance need.Click to see the list of GIA accredited Life Insurance Companies and Non-Life (General) Insurance Companies.Insurance – Some Basic Steps
  • Contact an insurance company, an insurance broker or an insurance agent
  • Discuss your insurance needs with them.
  • Think     about the options carefully and then choose the product(s) that meet(s) your needs
  • Supply truthful information for the completion of the insurance contract documents
  • Sign the insurance contractPay your premium
  • Receive an insurance cover for the risk(s) you have insured.
When should you take Insurance?
Once you have life with its possible unwanted outcomes, it is advisable to take an insurance against such possible unwanted outcomes. Also, as soon as you acquire a property it is advisable to choose an insurance to cover the risk of damage or loss to the property. Again anytime you have liability to another person for any damage you may cause the person, it is advisable to insure the liability. For liability insurance in the form of third party motor vehicle, commercial building under construction and commercial buildings you are required by law to take out insurance as an owner.

Protecting your life and property should be an important part of your financial plan. Insurance protects you from financial problems resulting from damage or loss either to yourself or to your property. It is therefore important that you insure your life and property against any unanticipated accidents, damages or loss. You can take insurance to cover any of the following listed below:
  • Death
  • Accident
  • Theft
  • Fire
  • Loss
  • Damage
  • Disability Health.

Broadly there are two kinds of insurance:Life Insurance which pays an insurance benefit when the person who is insured dies;Non-Life (General) insurance, which comes in many forms, including property, liability, disability, health and travel.
  • Property Insurance provides protection against property damage and the insured is indemnified (compensated) if such damage occurs.
  • Liability Insurance provides you with insurance protection if you are found to be liable for causing damage to someone’s health or property.
  • Disability Insurance provides protection should you lose your ability to work and earn income, and pays you income if you are unable to work.
  • Health Insurance covers certain medical expenses and prescription medications.
  • Travel Insurance provides protection against certain adverse occurence during travel such as illness or even missed flights.

Claims

  • The insured (policy holder)
  • The third party whose property has been damaged by our insured's vehicle
  • The injured victim
  • Administrators of a deceased estate
  • Parents/guardians in the case of minor.

Non-motor insurance comprise of several lines example public liability, professional indemnity, personal accident etc. Each non-motor insurance claim has its own specific claims procedure and conditions.Generally, when an accident occurs the insured should comply with the following :
  • Report to the police.
  • Contact your broker/insurer and fill the specific claim form.
  • Do not settle or negotiate to settle, admit or repudiate any claim without the consent of your broker/insurer.
  • Forward all relevant documentary evidence in respect of the loss.
  • Forward all claims, writs of summons or letters from third parties to your broker/insurer through insureghana.com.

1. If your vehicle was driven without your consent, order or permission.
2. When an unlicensed driver was driving
3. When the claim is statute barred i.e claims not submitted within the three (3) or six (6) years period.
4. Where there was a change of ownership on the vehicle without reference to us.
5. Using the vehicle whilst the driver was drunk.
6. Using the vehicle for unauthorized purposes.
MOTOR
A. Own damage
  • Report the loss to the insurer and fill the accident report form.
  • Attach a copy of the driver’s license.
  • Furnish the insurer with an estimate of the cost of repairs from either the insurer’s recommended garage or a repairer of your choice.
  • Provide pictures of the damaged vehicle, clearly showing the registration number of the accident vehicle.
  • Allow damaged vehicle to be inspected by the insurer’s surveyor before the commencement of repairs.
  • Police report would be required, depending on the circumstances leading to the loss.

B. Property damage claim
  • Letter of claim
  • Police Report
  • Furnish the insurer with an estimate of the cost of repairs from either the insurer’s recommended garage or a repairer of your choice.
  • Provide pictures of the damaged vehicle.
  • Provide driving license of the insured’s driver.
C. Injury cases·
  • Letter of claim
  • Police Report
  • Medical report
  • Original receipts of Medical Bill incurred (To justify the cost being claimed for)
  • Sworn Affidavit.
Two (2) passport-size pictures of the injured victim endorsed by the doctor who treated the victim.D. Deceased (death) cases
  • Letter of claim
  • Police Report
  • Death Certificate/Burial permit/Post-mortem report
  • Letters of Administration
  • Personal Particulars of the deceased
  • Sworn Affidavit
  • Endorsed passport size pictures of Administrators (two each).
In all cases, a discharge form which states the agreed quantum (amount) will be issued by the insurance company to the insured or claimant for execution and forwarded back to enable us process the cheque.

Under all insurance contracts, damages or losses incurred must be reported to the insurance company for the purpose of making a claim. In most cases a report must also be made to the police. Under a motor insurance for example, you must report any accident to the police as soon as it occurs to enable you to begin the processes for making insurance claims.Failure to report an accident can subject you to personal liability if the persons involved later find themselves to be injured and your insurance company denies the claims due to your failure to report the accident promptly.
This is what you are paid in the case of an accident or loss for which you have insured. Once you have entered into an insurance contract and paid your premium, you are entitled to compensation from the insurance company for any damage or loss suffered. The extent of compensation depends on the type of insurance.



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