Old Mutual Ghana, a major player in the financial and insurance services industry, has introduced an enhanced funeral plan with a cover of GHS 50,000.

The Transition (Funeral) Plan is a product designed to cater for a major component of the costs associated with funerals. The plan pays a lump sum on the death of the policy owner or selected spouse, children, parents and/or parents-in-law.

Premiums are paid for a maximum of 15 years but the policy holder as well as all the selected dependents enjoy cover for the whole of their lives. The product aims to process and pay claims within 48 hours of reporting the claim provided all necessary documentation is submitted on time.The product also has a cash back clause whereby every 5 years if the policy is still in force the policy holder gets back 10% of the premiums that they have paid.

Rita Boateng, Marketing Executive of Old Mutual Ghana, explained that the introduction of the product is as a result Old mutual Ghana’s constant desire to meet the financial needs of the Ghanaian customer. The enhanced funeral plan is not only easy for customers to understand but also offers value for money.

Rita Boateng emphasized that the introduction is also occasioned by the fact Old Mutual exists to partner Ghanaians and give them the best financial solutions to cater for both their expected and unexpected future needs.

“From an Old Mutual perspective, we aim to enable positive futures in communities within which we operate. Offering life assurance products that are relevant gives us that opportunity to assist our customers to achieve their financial goals, even in times of difficulty, “she said

Old Mutual, a relatively new entrant on the Ghanaian insurance landscape - having rebranded only about a year ago, is one of the largest and most respected insurers in the world.

The company began operations in 1845 as South Africa’s first mutual life insurance company, offering financial security in uncertain times.

Today, over 171 years on, it builds on this heritage of trust and accountability by meeting a broad range of retail and commercial customers’ financial services needs, at each stage of their lives.

Old Mutual takes a long-term view, aiming ultimately to enable ‘positive futures’ for all stakeholders.