QIC launches unique insurance package for baby boomers with mind-blowing benefits

Quality Insurance Company (QIC) Limited has launched a one-of-a-kind insurance package to cushion people who are 55years old and above dubbed ‘baby boomers' and the ‘silent generation’ [people born between 1925 and 1945].

The package dubbed ‘Golden Age Comprehensive Motor Insurance Policy’ which is a key component of the strategic plan of QIC for 2022 was launched at the head office of the insurance firm on Thursday, November 11, 2021.

QICs Golden Age Comprehensive Motor Insurance Policy seeks to redefine ageing for Baby Boomers with a spirit of creativity and the hope that the best years are yet to come.

Unlike any other insurance package provided by other firms, the latest package from QIC offers subscribers several non-insurance benefits.

Golden Age Comprehensive Motor Insurance Policy also provides free non-insurance benefits such as 24-hour on-call services, guaranteed courtesy car at the time of a claim, facilitation of home medical laboratory services, annual eye test, annual PSA Test for men, annual cervical/ breast cancer test for women, and an automatic renewal of policy at expiry.

Despite all the too-good-to-be-true benefits in the insurance package, QIC will only be charging the same premiums charged for any other motor insurance on the market.

Speaking to journalists on the sidelines of the launch, QIC Chief Executive Officer Mr. Kobena Addison explained that baby boomers are the primary targets of the package because they are better drivers and have disposable income to spend.

“We have assessed the market, we have been at this for the last two years, we have been at the regulator a couple of times, we have come back, done our homework and we are here today. We have definitely assessed the market and that is why we are bringing this out,” he stated.

Mr. Kobena Addison added that QIC developed the Golden Age Insurance Policy with the aim of providing comfort for baby boomers and the silent generation.

Gracing the occasion, Dr. Justice Yaw Ofori who is the Commissioner of Insurance applauded QIC for the initiative while urging the firm to continue to meet the requirements of clients when it’s time to fulfil its promises.

“We extend our congratulations to QIC on the launch of this product. We are optimistic that this product will bring long-term returns to the company,” Dr. Justice Yaw Ofori shared.

Interested persons in the QIC ‘Golden Age Comprehensive Motor Insurance Policy’ can visit any of their offices or call 0507175500 to sign up.

More about Golden Age Comprehensive Motor Insurance:

Golden Age Comprehensive Motor Insurance provides the best all round protection for your vehicles. It covers your vehicle against Fire, theft plus a loss or damage through impact, collision or overturning of the vehicle.

SCOPE OF COVER

Accidental damage to the insured vehicle caused by or arising out of accidental collision or overturning due to mechanical breakdown or wear and tear.

• Total loss of vehicle due to accident
• Covers the third party’s car
• External fire explosion, self-ignition or lightning
• Theft, burglary, house breaking
• Malicious act
• Flood, storm, hurricane, volcanic eruption, earthquake or
• Other convulsion of nature, strike, riot and civil commotion

Product Overview/Other Benefits

• Repair partial damaged vehicles
• Pay for total loss vehicles
• Refund of reasonable towing costs.
• Payment of basic first-aid costs for injuries by insured and other occupants as a result of an accident
• Liability to third parties
• Legal liabilities arising from an accident caused by your vehicle
• Death or bodily injury to any person - unlimited cover
• Damage to property belonging to other people - up to GH¢5,000.00

Golden Age will also encourage Baby Boomers to redefine ageing by facilitating and encouraging people who sign on to start up or polish life-long interests and hobbies such as painting, swimming, piano lessons, shooting lessons, vacation and leisure, horse riding etc.

Core Marketing Deliverables

• Ensure the creation of an effective customer experience
• Guaranteed regulatory compliance
• Delivering a clear product message and positioning
• What is the primary difference?
• How are we redefining aging for our primary customer profile?
• Encouraging them to have a wish list
• Facilitating some wish lists
• Encouraging them to keep fit
• GH¢2,500,000 by January 2023
• Minimum of 750 clients
• Average monthly sign up of 60 clients a month