Children’s educational needs: Standard Chartered Bank, Prudential Life Insurance offer solutions to parents

Standard Chartered Bank Ghana Limited and Prudential Life Insurance Ghana have launched savings and educational plans designed to help parents and guardians fund the future of their children.

The Future Need and Future Plus plan is to enable parents to save towards the cost of their child’s education with the promise of a guaranteed contribution from Prudential Life.

In the event of the permanent disability or death of a parent or guardian, Prudential Life will provide benefits to support families’ ongoing financial commitments.

Customers can save between GH¢100 and GH¢1,000 each month with the Future Needs plan. Customers can save between GH¢400 and GH¢5,000 each month with the Future Plus plan which is aimed at customers who wish to fund their children’s education abroad.

Prudential Life will award a 4 per cent of total premium bonus at the end of the policy if all premiums have been paid.

Setor Quashigah, the Executive Director, Head Wealth Management said, “Funding educational needs is a priority for most of our clients. As a bank, we ensure this becomes a reality whether they are healthy, permanently disabled and even in death.”

Achumile Majija, Chief Commercial Officer at Prudential Life Ghana, said: “We partnered with Standard Chartered Bank to provide tailored life insurance products and services that suit the needs of Ghanaians today. Our Future Needs and Future Plus plans provide parents with peace of mind that their children’s education will be covered even if there was a sudden loss of income due to death or permanent disability.”