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As part of its efforts to increase insurance penetration especially at the informal sector, Allianz Ghana has launched two microinsurance policies.

Allianz Anidaso (Allianz Hope) and Allianz Apomuden (Allianz Health insurance)which is to cover the health and funeral expenses also allows clients to accumulate funds to meet their short and long-term needs.

With a monthly contribution of a minimum of GHC8.00, a client can be signed onto any of the two products and has the flexibility of making withdrawals after every four months.

Also, the monies saved under any of these insurance policies mature after three years with interest ranging from GHC3,000 to GHC8,000 depending on the product signed onto.

Speaking at the launch, Head of Alternate Distribution Channels of Allianz Ghana, Jane Kitome, said these products by Allianz are designed to demystify the myths surrounding insurance policies in order to encourage people in the informal sector to venture into insurance.

She explained that, “Allianz Anidaso takes care of the funeral costs and other living expenses during the trying period of the loss of your loved one,” she said.

Madam Kitome stated that, Allianz Apomuden is a hospital card product, which caters for all hospital bills of clients or one family member of this same client in the informal sector who is signed onto the product.

“If you get admitted to the hospital, you are paid to cater for the income you lose while you are there,” she said.

She indicated that the products served as security and a source of hope when unexpected circumstances emerged.

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“We encourage the people in the informal spaces to save money and while they do that, they have the opportunity to also make savings so that in the short to medium term, they can have these monies.

For his part, Chief Executive Officer of Allianz Ghana, Gideon Ataraire allayed the fears of the public and assured them of the safety of the policies.

He stated that a lot of research went into developing the two insurance products to ensure smooth implementation.

Mr Ataraire also assured clients of good record-keeping methods with the help of technology whenever payments and deductions were made.