During a ceremony at the Skyebank offices along Kairaba Avenue, Isa Sowe-Thomas, head of corporate and public sector of Capital Express Assurance Company said: “We are here to honour a death claim through a product called the Capital Express Group Life. This product was taken by Skye bank for their employees and the scheme states that if an employee passes away, critically ill or permanently disabled, the beneficiary should be given the sum assured. It is usually paid using the person’s yearly emolument multiplied by three or by using a flat fee. Capital Express Assurance Gambia Ltd is a life specialist assurance company and we have been operating in The Gambia since July 2009. We have different products ranging from individuals to group accounts and under the individual product we have the Capital Express Universal Life Assurance Plan. This is taken by individuals who have a dream in a five-year period and all our policies run through this period. We also do the Guaranty Education whereby if you have a child, that child will be adequately catered for. All our products do have a life cover and this ensures that if a parent is no longer living, a child will be given the sum assured. Today, this amount is going to be paid to a late employee of Skye Bank. The premiums payable on group accounts are minimal and this is one way for a group to motivate its staff. We are here to stay in this country given the fact that life insurance is now assuming increased importance. It is becoming a very buoyant market and we want people who want a life policy for their child or want to build a dream house to come to Capital Express. Organisations or groups with staff bases should also try to explore the Capital Express brand which will help in catering for their employees.”
Eluwole Leke James, human capital management officer at Skye Bank said it was sad for the bank to lose one of its employees and that the payment was to help the family of the deceased. He stated that in a corporate environment, insurance is critical and helps a group take care of its employees.
“It is both a sad and happy day for the bank but this product is taken up by the bank in an event that an employee passes away. We are glad that Capital Express delivered on its promise by presenting the check today. Life insurance is very important and if you are to bear the burden of taking care of your staff on your own as a group, it becomes very difficult. This didn’t come as a surprise and I think it will go a long to support the deceased’s family. I understand that he left a one-year old child and so this money will help the family in many ways,” he added.
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