Microinsurance Products

Microinsurance Products

  • GLICO Anidaso Insurance Policy
  • GLICO Edwa Nkosuo (Business Progression) Policy

Micro insurance is a mechanism designed to protect low income earners against risk (accident, illness, death in the family, natural disasters, etc.) in exchange for insurance premium payments tailored to their needs, income and level of risk. It is aimed primarily at the informal sector that tends to be under-served by mainstream insurance schemes.

At GLICO LIFE, our aim is to make life insurance available to every household in Ghana to meet the needs of the insuring public. Our Micro insurance products are:

GLICO Anyidaso (Hope) Policy

“Anidaso” is a local Akan word in Ghana which means “hope”. The objective of Anidaso is to offer potential policyholders a low cost life insurance product concept and to help overcome the market blockages hindering clients from accessing insurance products.

The initial concept, in partnership with Care International- a Non Governmental Organization, was to reach out to low income earners in the rural area to offer insurance assistance in the event of loss so that they can continue trading.

GLICO Anidaso Insurance Policy is a pure term insurance plan designed to provide payment of a lump sum at the end of the policy period. The unique feature of this product is that it can be taken out as a stand-alone policy or taken together with a savings benefit. The policy can also be extended to cover the principal life insured’s immediate dependants, that is, spouse and children below 18 years or above if in full time education.

The minimum daily contribution is GHC 10.00 and is available for individuals 18 years and above.


  • Hospitalization Income Benefit: in the event that the policy holder is hospitalized during the period this policy is in force, the rider shall pay the amount of benefit applicable as Daily Hospital Income Benefit for the number of days that the insured shall be admitted in the hospital up to the maximum period of 360 days.
  • Accident Disability Benefit: if the policy holder sustains bodily injuries in an accident leading to temporary or permanent disability, GLICOLIFE shall pay the amount of money payable under the accident Disability Benefit.


“Edwa Nkosuo” is a local Akan word which translates to mean “Business Progression”.

Over the years, GLICO LIFE redesigned the product (formerly called GLICO Depositors Life Plan) and introduced it to the Abossey Okai market (the Spare Parts Hub of Ghana) in 1987, with the objective of assisting policy holders in creating short term accumulation of savings with interest and insurance protection.

This was hugely embraced and patronized and currently the targets for Edwa Nkosuo have been enlarged to include the informal sector, NGO’s, market circles across the country.

The unique feature about this product is that it combines both savings and insurance and a policy holder (depending on age) can combine Anidaso with Ekwa Nkosuo to reap in much benefit.

The policy runs for a period of one (1) year and is renewed annually. Contributions/premiums are paid on a daily bases through a structured daily collection process at respective market places. The minimum contribution a policy maker can make is GHC 5.00.

It is interesting to note that Edwa Nkosuo & Anidaso have been lumped up and sold as a joint policy to make it easier for the non- banking public to enjoy the provisions of the stated benefits.

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