One of the leading insurance companies in the country, Globalrisk Insurance Company (GIC) – SL Ltd is here to stay, adhered to its policies with customers nationwide as it presented over Le 189,426 Million cheques to beneficiaries of the life insurance contracts of deceased customers from January to October 2023 nationwide.
The Chief Executive Officer/Managing Director of GIC, MMrPaul Oparah, stated that he is poised to do more to enhance the lives of civil servants who joined the Company so that they can improve their future financial planning and achieve their dreams of living a comfortable life with their families, as this is almost impossible to achieve in their daily lives, considering the worldwide economic trends.
Mr Paul Oparah disclosed that the company, which started operations in 2020, has branches in Makeni, Bo and Kenema, with its headquarters at 2 Wellington Street in Freetown. He further stated that the beneficiaries include family members of Teachers, Police Officers and other civil servants who had passed away.
He stated that some of the deceased customers joined the company in February 2021 and 2022, yet the beneficiaries were paid far more than what the deceased customers could have accumulated in 20 years of savings. This is the beauty of a Life Insurance contract, Mr Paul Oparah added. Another service the Company provides to customers under the Life Insurance contract is a loan facility, which is available to customers after one year of continuous payment of premiums.
According to the Chief Executive Officer, several customers have benefitted from the life insurance policy loan scheme, as the procedures were consistent and in line with their policies, and hundreds of thousands of new Leones are disbursed every month to customers.
He further stated that the company’s loan scheme is in full operation that they started granting loans over two years ago to their customers in 2021, and that the company has disbursed over Seven Hundred Million Leones (Le 700, 000,000) to its customers nationwide. Mr. Paul Oparah disclosed that life insurance has to do with human life, and the company plans to support families to be able to handle family financial challenges, as such, collaterals are not a prerequisite to granting policy loans. The Life Insurance contract is in itself a collateral to a policy loan.
While sending his condolences to the families of deceased customers, the MD/CEO of Globalrisk Insurance Company admonished all to join the insurance that has great benefit for the future and called on people to utilize such services available around them, stressing that the government cannot do everything for us. He therefore encouraged the private sector organizations to design services that will uplift the standard of life of the citizens, adding, “GIC, as an institution, is bent to improve the lives of all Sierra Leoneans that are eligible to take any of their policies”.
The GIC Chief Executive Officer revealed that the GobalriskInsurance Company has life insurance products that include; the ‘Gentri’ Assurance Plan, Guaranteed Education Assurance Plan, Mortgage Assurance, and Group Life Insurance Scheme for private sector organizations. He added that the primary objective of the Company’s Life Insurance products is to ensure that the policyholder lives a good life through the policy loan, save for the future, especially life after retirement, as well as provide benefits for dependents in the event of death of the customer. The Guaranteed Education Assurance Plan helps customers save towards the future education of their children, as well as providing yearly financial support to the child for up to 18 years if the customer dies before then.
One of the beneficiaries, Philip Tamba, acclaimed GIC for its adherence to its policies and called on others to join the company that is real and close to its customers, asserting, “All is very pathetic for us all, as I lost my wife, Kofalie Sia Agnes, who was a teacher at K.L.D.C. Primary School, KangamaTown Kissi Teng, and today I can vouch that it is not easy, but it is the test of God”.
Late Daniel Gaya Saffa, a teacher of the Methodist Senior Secondary School, Kenema next of kin received Le12, 220, 000; Sia Agnes Kofalie, K. L. D. C Primary School, KangamaTown, Kiss Teng, Kailahun next of Kin received, Le 25, 860,000; Allieu Badara Kamara police officer at the Mile 91 Police Station, next of kin received, Le15,800,000; MabintyAbdul Fofanah, a police officer at Ross Road Police Station, Freetown next of kin received, Le 28, 400,000; John Hassan Fofanah Jones a police officer at the Regional Operations Office, North-East, Makeni next of kin received Le 20, 400, 000; Lucy Juliana Atere Robert, a teacher at the CremsonPrimary School, Cox Street, Kissy, Freetown, next of kin received Le 13, 440, 000 among others.
Presentation of the cheques of over Le 189.4 Million to the families climaxed the ceremony and other police officers and teachers assured to persuade some of their colleagues to join Globalrisk Insurance Company-SL Limited, as they adhere to their obligations.
