Enterprise Life launches improved education investment solution

Leading insurance solutions provider, Enterprise Life Insurance Company, has launched an enhanced education insurance policy, known as Educare Enhanced, for its customers.
The new policy is an improvement on the already existing policy that was first introduced.
Under the new policy, a greater portion of customer contributions will go into investments.
This will help the contributor plan towards their, or their dependants education.
The General Manager, Operations, at Enterprise Life, Solace Odamtten-Sowah, described the new product, as an “investment link solution, which provides educational offerings.”
She explained that the product is two pronged, with a life cover component, to ensure that there is insurance to take care of the educational needs of the beneficiaries in case of death and a disability cover in case of a debilitating accident that leaves the contributor unable to work.
Furthermore, the under Educare Enhanced, the eligibility range has been shifted by 10 years, meaning persons 18 to 70 years can benefit from the policy.
This change, she explained is in recognition of the increased mortality rate in the country, with people living longer than before.
The changes, she says have come from the feedback they have received from customers in the past.
She also revealed that s a rider for the policy, a retrenchment package has been added, in case the contributor gets laid off at work in the lifetime of the policy.
In this case, a certain percentage of the assured sum will be given to them.
In recognition of the fact that there could be unforeseen issues, the policy, she stated also makes room for the contributor to set some money aside in a cash account, for these issues.
This will ensure that when there are emergencies, the customer does not dip into their investment account.
Chief Financial Officer of the Enterprise Group, Mike Tyson, said the product has been carefully designed and developed to take care of the educational funding needs of Ghanaians, which he identified as the primary impediment to people’s educational goals.
By SELORM GBORBIDZI, Accra