Bethniel Fintech & Sanlam Life Insurance Ghana collaborate to make life insurance digitally accessible for Ghanaians on the Bethniel Finance App
Bethniel Fintech, a startup on a mission to build platforms that help Africans learn, transact & grow financially, has collaborated with Sanlam Life Insurance Ghana, subsidiary of one of the largest insurance providers (Sanlam Group) across Africa.
The collaboration is to offer life insurance, code named “BethLife Basic Insurance” to Ghanaians on Bethniel Finance, an app offered by Bethniel Fintech. More broadly, the Bethniel Finance App seeks to help Ghanaians learn about money, better manage money, and access financial services from one place.
Many Ghanaians have misconceptions about life insurance and this can be attributed to the lack of education about it. Additionally, 7 out of 10 Ghanaians have no form of life insurance cover, consequently, leading to them having to dip into their savings or seeking out loans when unforeseen events or uncertainties of life happen.
With BethLife Basic, Ghanaians have access to life insurance which is affordable, convenient and covers them during unforeseen and challenging times such loss of life of loved ones, sickness that requires spending nights at hospitals, and permanent injuries from work.
The benefits that come with this insurance include:
- Death benefit of up to GHC10,000. This entails a maximum of GHC5,000 each payable either when you (primary life) or added life unfortunately passes away.
- Permanent disability benefit of GHC5,000. This is payable to you if you become permanently disable through accident or illness.
- Hospital cash benefit of GHC150 per night for at most 10 nights spent in the hospital. This is payable when you have to spend the night at the hospital due to sickness.
Cost of BethLife Basic Insurance
To get the benefits of this insurance product, you need to pay an insurance premium, either monthly (GHC14) or yearly (GHC168). The cost of the insurance has been greatly subsidized by the collaboration between the two partners, making it very affordable for the average Ghanaian. Essentially, with BethLife Basic Insurance, you can get a total cover of up to GHC16,500 by paying either GHC14 monthly or GHC168 yearly.
What To Do Next
If you already have Bethniel Finance, all you need to do is to update the app.
If you don’t have the Bethniel Finance App, download it now and start your insurance journey.
Article Categories: Product Update, Milestones & Recognition
