Stanbic Bank launches Education Plan

Stanbic Bank Ghana has launched another innovative product under its Bancassurance unit to provide customers convenient and reliable services.

Dubbed: Education Plan, the product is to enable parents to provide an uninterrupted quality education for their wards to the highest level.

The product has an investment section that allows an investment into Stanbic’s accounts that will yield high investment returns at 16 per cent for the account holder.

A unique feature of the product is that the sum assured is paid as a lump sum on death or permanent disability in addition to any accumulated investment on the plan.

Speaking at the launch, Head of Personal and Business Banking of Stanbic bank, Nana Dwemoh Benneh, said the collaboration with Metropolitan Insurance is to deliver service that is beneficial to the consumer in an industry that remains critical sector for every economy.

He indicated that Stanbic Edu Plan which allows a minimum of GH₵ 1,000 to GH₵200,000 investment would be insured, “so in case of any eventualities, the target of amount set in for a child of a contributor is guaranteed.”

Nana Dwemoh Benneh added that “Life is not straight forward and that makes this policy very necessary looking at its nature”.

For his part, Head of Bancassurance Stanbic Ghana, Henry Manyo-Plange said the partnership with Metropolitan Insurance is to offer customers a one stop shop for their financial services.

He said the Edu Plan would be available in about 37 Stanbic branches including the headquarters in Accra to offer convenience and ease of access to clients as well as adequate technical and information support from trained staffs of the Bank.

Mr. Manyo-Plange said customers between the ages of 18 to 67 have the flexibility of making monthly contributions with a minimum of GHȼ20 over a period of three to 18 years.

He said trained staffs are always available to provide any information needed and to assist in completion of a simple one-page document.