One of the leading insurance companies in the country, Globalrisk Insurance Company (GIC) – SL Ltd, is keeping to its contractual obligation with customers nationwide as it presented over NLe127,440 cheques to beneficiaries of 16 families under its Gentri Assurance Policy and Guarantee Education Assurance Policy of deceased customers from January to December 2024.
The Chief Executive Officer/Managing Director of GIC, Paul Oparah, stated that the Company was poised to do more to enhance the lives of civil servants who joined the Company’s Life Assurance Scheme so that they could improve on their long term financial planning and achieve their dreams to live comfortable lives.
Mr Oparah disclosed that the company, which started operations in 2020, had branches in Makeni, Bo and Kenema with its headquarters at No. 2 Wellington Street in Freetown.
He stated that the beneficiaries included family members of deceased teachers, police officers and other civil servants who were members of the company’s Life Assurance Scheme at the time of their demise.
The GIC’s Chief Executive Officer/Managing Director stated that some of the deceased customers joined the company in February 2022 and 2023, yet the beneficiaries were paid far more than what the deceased customers could not have accumulated in 20 years savings. He noted that, “this is the beauty of a Life Insurance and other services the company provides to customers under the Life Insurance contract such as loan facility which is available to customers after one year of continuous payment of premiums”.
According to the Chief Executive Officer, several customers had benefited from the life insurance policy loan scheme as the procedures were consistent in line with their policies as hundreds of thousands of New Leones were disbursed every month to customers.
He further stated that the company’s loan scheme was in full operations and that they started granting policy loans over three years ago to their customers since 2021 and in the year 2024, the company disbursed over three hundred thousand New Leones (NLe300,000) every month to its customers nationwide.
Mr Oparah disclosed that the primary objective of the Company’s life insurance scheme was to support families to be able to handle family financial challenges and as such collateral were not a prerequisite to granting policy loans, noting that the Life Insurance contract was in itself collateral to policy loan.
A family member of one of the beneficiaries, Emmanuel Fabba, said he was among those who criticized GIC at one time but by witnessing the presentation of benefit cheques to the children of his late brother, Jusus Fabba, he was convinced that Globalrisk Insurance Company was trustworthy.
Late Mabinty Tholley, a teacher of Sham Sierra Islamic Secondary School, Rokel, Waterloo next of kin received NLe25,800; Late Tamba Michael Samadia a police officer at the Gbesse Police Station, Koindu Town, next of kin received, NLe10,10000; Late Jariatu Kanneh a teacher of Crown Academy Primary School, Kissi Town. Waterloo next of kin received NLe16,583; Late Abu Osman Kamara a teacher at the Kankaylay Islamic Primary School, Malal Thor Thor, Kalagba Town. Bureh Chiefdom Port Loko District, next of kin received NLe12,100 among others.
Presentation of the cheques of over NLe127,440 to the families climaxed the ceremony.