According to her, the insurance product was tailor-made for persons in the informal sector, hence its affordability.
On Tuesday, May 30, 2023, Prudential Life Insurance Ghana launched its latest micro insurance product known as Mekakrawa, which is targeted at Ghanaians of all classes.
The big launch was held at the New Kejetia Market in Kumasi, and was well attended by some celebrities and members of the public.
Mekakrawa covers death, accidental death, critical illness and total permanent disability, and is especially targeted at Ghanaians in the informal sector.
These include the unbanked, petty traders, students, vendors, wholesalers, retailers and middle to low-income earners.
“It’s been 100 years since we’ve been in Asia and nine years since we’ve been in Ghana and throughout this period, we’ve helped people get the best of life,” Dr. Berrard said.
“Today, we’re about to launch a very important addition to our family – Mekakrawa. We’re saying that, as Prudential Life Insurance, our support for everyone to make the best out of life.
“No matter how much you earn, no matter how much you sell, with GHc3, GHc45 you can get an insurance cover for yourself and your loved ones. However small your effort, you can still get cover for a product and for critical illnesses. It’s very affordable.”
Meanwhile, Mekakrawa is designed to be easily adaptable and accessible to all manner of people, regardless of their mobile device type and irrespective of where one is located.
Subscribers of partnering telcos can activate the product via USSD and MTN mobile money. One can subscribe to the product by dialing *778# on MTN to register. Monthly premiums include GHS3.0, GHS4.5, GHS9.0, GHS 22.5, GHS 27.0, GHS 36.0 and GHS 45.0.
Mekakrawa, which means “My Widow’s mite” in the Akan, is geared towards ensuring financial inclusivity among Ghanaians of all classes.
Dr. Berrard Amuah, therefore, called on members of the public to enroll on the insurance policy to plan towards their future.
“I want to encourage all of you to get Mekakrawa as a product for yourselves and your loved ones,” the Prudential Life Insurance Ghana CEO stated.
“This is very important because if you look across our country, you’ll realise that there are so many people who do not have access to financial education or insurance.
“More than 54% of our population don’t have access to insurance or financial education. So we have come to always listen, understand and deliver through Mekakrawa.”
Prudential Life Insurance Ghana is a wholly owned subsidiary of Prudential plc., which provides life and health insurance and asset management, in 23 markets across Asia and Africa.
Prudential protects people’s wealth, helps them grow their assets, and empowers them to save for their goals. The business has more than 17 million life customers in Asia and Africa and is listed on stock exchanges in London, Hong Kong, Singapore and New York.