Allianz Life Insurance has taken its two innovative microinsurance products to Takoradi, Western region, as part of efforts to reach more people in the informal sector.

The two products, Allianz Anidasoô Plan and Allianz Apômuden Plan, which were outdoored to teeming market women and traders at Market Circle in Takoradi are aimed at revolutionizing the current life insurance market while offering affordable life insurance solutions to the informal sector.

In an interaction with some of the attendants at the brief colourful event, Mrs. Jane Kitome. Head, Alternate Distribution Channels said insurance although essential is not very popular among the informal sector where it is needed the most.

She stated that this lack of adoption could be explained by existing policies which do not cater for the actual needs of people. Ms. Kitome explained that Allianz is outstanding because it is customer-centered and products are designed from the perspectives of customers and most importantly, claims are paid on time.

Mrs. Kitome that, the ‘Allianz Anidasoô Plan’ has a daily, weekly or monthly savings element (popularly called susu) and also takes care of the funeral costs and other living expenses during the trying period of the death of a person whose life has been insured.

It comes with a monthly insurance premium starting from GHS4.00 and pays up to GHS4,000.00 in case of natural death and up to GHS8,000 in case of death through a car accident.

The Allianz Apômuden Plan, on the other hand also provides a means to save either daily, weekly or monthly while getting an insurance cover for the time spent at the hospital on admission due to ill health. The monthly insurance premium starts from GHS6.00.

Contributors get to enjoy a hospitalization cash payment of up to GHS100 each night for 30 nights.

The event was attended by the leadership of the Market Circle which include Helena Andoh, President, her vice Nana Akua Kosua, Veronica Arthur, Secretary and Cecilia Ansah – Secretary to the Cloth Sellers Association.