Societe Generale Ghana and Prudential Life Insurance Ghana have jointly launched the Sound Education Plan to help parents achieve the best possible future for their children.

The plan enables parents to save for school or university fees while receiving high interest. Because the plan is an insurance product, Prudential will continue to make payments into it even if a parent passes away or is permanently disabled.

The launch follows the signing of a partnership agreement between the two organisations in April 2015 which allows customers to buy Prudential’s life insurance products in Societe Generale’s 40 branches and outlets throughout Ghana.

The partnership is an alternative to acquiring a loan which often involves making interest payments for many years.

Speaking at the launch, Deputy Managing Director of Societe Generale Ghana, Francois Marchal noted that this is the education plan in Ghana to feature a unique four per cent bonus which is awarded to parents who pay all of their premiums, in addition to the usual interest they will get at the end of the plan.

The plan he added enables parents to save as little as GH¢30 a month for between eight and 25 years.

Francois Marchal said the company is “committed to giving our customers the best possible range of products, especially when it comes to insurance and look forward to working with Prudential over the coming years as we grow our insurance portfolio.”

For his part, the Chief Executive Officer of Prudential Ghana, Emmanuel Mokobi Aryee said they are glad to partner with Societe Generale because they share a common interest in providing superior financial solutions to better the life of their customers.

“In this instance, we are providing parents the opportunity to save for the most significant investment they will ever make. This is to give their children good uninterrupted education with our Sound Education Plan,” he stressed.