Gemini Life Insurance Company, GLICO, has presented a 480 million-cedi insurance package to the Ghana Cyclist Association (GCA) for the 48 cyclists in this year's Tour Du Ghana scheduled March 31 to April 8.
Briefing the press in Accra on Monday, Mr Eric Adane, Executive Director in charge of marketing, said each cyclist will receive 10 million cedis insurance package for the period of the tour.
He said events such as this can put people's life in danger and Glico's insurance scheme is to allay the fears of cyclists urging them to compete in confidence.
''This will allay the fears the youth who might want to join the game but fear for their lives.''
Mr Adane said cycling as a game has a lot of promise for the youth who can win laurels for the country.
Brigadier George Brock, Acting Chief Executive of the National Sports Council who received the package thanked GLICO for the presentation and also promised that the Council will give 40,000 cedis to the winner of each stage of the competition.
Mr Peter Affort, chairman of the GCA, said the winner of the tour would receive cash prize of four million cedis and a trophy donated by Pepsi, major sponsors of the tour.
Other sponsors include Woodin, Wienco Fertiliser, Suvinil Paint, Bic and Ghana -France Co-operation.
The 727-kilometre competition-distance which has nine stages will begin from Accra and end at Nima in Accra where there will be a criterion.
He said cycling clubs in the towns of the tour would stage a show with the tour team.
The other participants would be from Togo and Benin.