Wa Ba Daakye
The Quality Life “Wo Ba Daakye” Plan is a term insurance policy with a savings (i.e. Education Fund) plan and is targeted at members (i.e. parents/guardians) of the informal sector. It is based on the traditional Susu module which is prevalent among the informal sector and allows the insured parent/guardian to accumulate funds to meet short to medium term liquidity needs of the education of his/her children/wards as well as a life cover in the event of his/her death.
The Sum Assured per policy is fixed at GH¢2,000.00 and covers only the insured’s parent /guardian. Death benefits are payable in the event of death of the insured while the policy is in force.
The policyholder has the options to choose a minimum of one child /ward to a maximum of 5 children/ward under the policy. The children’s lives are not insured or covered under this policy.
The policy has a fixed term of three years with the option upon maturity for further
The policy has a fixed term of three years with the option to renew the policy upon maturity for further three –year term periods, subject to good health, but not beyond age 70 of the insured.