Capital
Express Assurance (Gambia) Limited, a leading Life Assurance Specialist Company
in The Gambia, recently presented more than half a million Dalasis to the
beneficiary family of a late employee of Guaranty Trust Bank, who made claim to
their Group Life Assurance Policy or Death-In-Service Benefit Scheme, at a
presentation ceremony held at Guaranty Trust Bank conference room on 9 March
2017.
Capital
Express Group Life Assurance Policy or Death-In-Service Benefit Scheme was
designed to provide for the payment of capital sum (sum assured) to the
dependants of an employee who dies while in the service of the employer.
This
scheme is open to all employers of labor with five employees and above in the
country.
Capital
Express Assurance (G) Ltd pioneered this innovative scheme and holds an
exclusive leadership position; with a reputation for superior service delivery,
a history of prompt claims settlement and unmatched professionalism in the
insurance industry.
D668,017
was presented to the late beneficiary family, as a result of the Group Life
Assurance Policy Scheme which Guaranty Trust Bank entered into with Capital
Express Assurance on behalf of their GTBank staffs.
Omar
Mboob, Head of Finance at Trust Bank Limited and a brother to the deceased,
expressed his deep appreciation to Capital Express Assurance and Guarantee
Trust Bank and their staff association for the ceaseless supportive efforts
they have been rendering to the family.
He assured them the funds will be judiciously
spent for the proper maintenance and upkeep of his deceased brother’s family.
The
Managing Director and CEO of Guarantee Trust Bank, Bolaji Ayodele, in his
remarks, commended Capital Express Assurance for the speedy and timely
deliverance of the claim.
According
to him, they entered into agreement with Capital Express Assurance to put the
Group Life Assurance Policy in place not because they expected fatalities but
to cover for eventualities of any sort, which might arise out of the blue.
For
his part, the managing director and CEO of Capital Express Assurance, Festus C.
Ahaotu, said the claim presentation was a clear manifestation of their
commitment to the fulfillment of their goals and targets to eradicate poverty
in the society.
He
said the money they provided to the deceased family was aimed at meeting some
of the financial needs of the bereaved family in the absence of their
breadwinner, who was entitled to their Group Life Assurance Policy as an
employee of GTBank.
According
to Mr Ahaotu, the scheme ensures and guarantees that should they lose an
employee, a certain amount, usually a multiple of salaries or 2-year salary or
as proposed between the two organizations, Capital Express should pay the said
amount to the family of the deceased.
‘’That
is why it is a project we are trying to sell to every entity. GTBank is not the
only institution actually in this scheme, there are others and we are even
trying more institutions.’’ the Capital Express MD said.
‘’It
is also a way of letting other organizations and individuals to realize we
don’t just speak grammar or shy away from paying claims,” Mr Ahaotu said,
adding that they always pay and fulfill their obligations when a claim falls on
an individual or institution.
Kalilu Bah, Head of Technical Operations, and
Victor Abu, Head of Retail Business at Capital Assurance, expressed their
heartfelt condolences to the family of the deceased and heaped praises on
GTBank for taking up the initiative to set up the scheme for their staff.
Capital
Express Assurance offers a host of innovative and life assurance schemes such
as the group life/death in service scheme, Capital Express Universal Life
Assurance Policy (CULAP) and Guaranteed Tuition Protection Plan (GTPP), Student
welfare Insurance Scheme (SWIS) and Mortgage Protection Assurance Plan, which
are all customized to offer a unique combination of insurance protection and
capital accumulation while also giving one the opportunity to choose benefits
in accordance with his financial capabilities and needs.
Mawudey
Kurang, Group Business Division at Capital Express Assurance, called on other
institutions and corporate entities to establish the scheme as it gives their
employees peace of mind which would also serve to motivate them thereby
increasing their productivity in the workplace.
According
to her, the payment of the death claim benefit at GTBank is not the first of
its kind that Capital Express Assurance have made since its inception in 2008.
She
said further that similar high profile presentations of claim payments had
taken place in other organizations where the scheme is in place.
‘’Our clientele consist of all sectors,
including individuals from different walks of life, such as corporate entities
and the military forces. Mrs Kurang said.