Enterprise Life Assurance Gambia Ltd recently paid a total of D4.2 million to policy holders and families of deceased customers.
The most recent presentation was D500,000.00 paid to eight families from January to March. The company also paid D3,700,000.00 paid to 204 policy holders as benefits.
Speaking at the recent presentation, the Country Manager Fatoumata Baldeh Khrais, explained that the D500,000 support is provided to families of deceased persons who joined the Educare and Life Time Needs Plan (LTN) for the benefit of their offspring. “If the policyholder dies, the benefits are paid to his or her family through a trustee who may also at the same time be a beneficiary in different cases”, she stated.
She further disclosed that the latest payments were made to a family with two policies under Life Time Need Plan for D60,000.00 and Educare for D38,775.11 and that family alone was accordingly paid D98,775 as a benefit. Mrs. Khrais also stated that maturity claim benefits are paid to clients whose policy matured over time from 7 to 18 years.
The Educare Plan, she explained, helps to meet the educational needs of customers’ child (children) while Life Time Needs Plan is an investment-linked with the life assurance product providing both life cover and savings benefits. “This Plan is a dual-purpose life assurance policy, which allows the policyholder to plan over the long term towards retirement, pension, long term investment goals and also acts as an income replacement plan to support the policyholder’s family in the unlikely event of death,” Madame Khrais said.
Enterprise Life Assurance Gambia Ltd was incorporated in November 2011 and in May 2012, the company had its operational license issued by the Central Bank of the Gambia. Its main office is located on the Standard Chartered Bank building on Bertil Harding Highway at the Traffic Lights.
