Chief Commercial Officer at Tigo, Tara Squire
Tigo Insurance, in collaboration with BIMA and Prudential Life, on Thursday launched an Income Protection Policy plan in Accra.
The new policy is to provide financial support for its mid to high customers who work in both the formal and the informal sectors in the event of an accident or illness that might prevent them from working. This brings to three the number of products Tigo Insurance has offered to the benefit of its patrons in Ghana. The new policy, which is for high airtime users, covers permanent disability due to illness, selected illnesses such as cancer, stroke, kidney failure and hospitalization for various reasons.
At a press briefing, the Chief Commercial Officer at Tigo, Tara Squire highlighted on the need to widen the portfolio mix of micro-insurance products to cater for the needs of mid to high tier income earners.
“We are proud to introduce yet another first, an insurance product that will bring financial relief to our mid to high value customers. This is what leading the digital lifestyle means to us as a brand – delivering innovative digital services to our customers with ease and convenience,” he said.
The Tigo Income Protection Policy will pay out a lump sum of up to GH¢4,000 for disability and critical illness; and up to GH¢60 per night or GH¢1,800 a year for hospital admission with a contribution of only 30p a day for at least one month.
Providing insights that led to the development of the product, the Country Manager for BIMA, Russell Haresign, said it was developed in response to customer demands for micro-insurance products with higher living benefits.
“It comes with increased cover and it is a threefold benefit because it covers accident, illness and hospitalization. We are excited to say that this is also the first mobile insurance to offer no claims bonus meaning customers who don’t make claims are awarded airtime credit every year,” he added.
Customers can access the product through *550# and follow the screen prompts to register.