Enterprise Life Assurance Gambia Ltd paid about GMD 500,000.00 to eight (8) families from January to March 2021; and in addition, paid GMD 3,700,000.00 to two hundred and four (204) policy holders as benefits.
Speaking at the event, the Country Manager Fatoumata Baldeh Khrais, explained that this 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 GMD60,000.00 and Educare for GMD 38,775.11, and that one family benefited GMD 98,775. 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 help meet the educational needs of your child (children) and Life Time Needs Plan is an investment linked 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 serves as an income replacement plan to support the policyholder’s family in the unlikely event of death.
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. The company has four (4) offices with the Head Office on the 2nd Floor of the Standard Chartered Bank Building, Traffic Lights, Kairaba Avenue. The rest are in Basse, Farafenni and Brikima.