Milife Insurance says it has so far paid GH¢1,191,820 as death claims to the beneficiaries of some 59 deceased members of the Ghana National Association of Teachers (GNAT).
The company has also paid a total of GH¢132,536 as exit and retirement benefits to 337 exited and retired members of GNAT.
This came to light when Milife paid its 60th death claim of GH¢21,500 to the beneficiaries of a deceased GNAT member, Samuel Agyeman of Diabene Senior High School, who contributed for three months towards a life insurance policy before his demise.
At the presentation ceremony, Kwabena Nketsia, Assistant General Manager in charge of Business Development at MiLife Insurance, explained that GNAT and MiLife had been in partnership since 2017 providing life insurance solution to cover permanent disability and death.
“Under the life policy, GH¢21,500 is paid to the beneficiaries of a covered GNAT member upon their death with disability benefit to members upon permanent disability from accident or illness,” he noted.
Noting that the life insurance policy for GNAT members was open to all teaching and non-teaching staff of the association, he urged all members to register with MiLife since insurance helped in any unforeseen circumstance.
Mr. Nketsia further explained that “insurance is about trust and we want people to believe that the reason why they did the policy was for their claims to be paid. We pay claims within five days. We do not let people go through struggle; mostly, we go to their doorstep for claims payment.”
Nicholas Taylor, Western Regional Secretary of the Ghana National Association of Teachers (GNAT), noted that although there had been misconceptions about insurance companies when it came to payment of claims, GNAT's partnership with MiLife had been smooth so far.
Elizabeth Akuoko, Sekondi-Takoradi Metropolitan Director of the Ghana Education Service (GES), praised MiLife Insurance for the prompt payment of claims.
“I am impressed and I will encourage every GNAT member to register with insurance policy that will yield fruitful result,” she indicated.
She entreated the beneficiaries not to use the money for funeral celebrations but invest it in the education of children of the deceased.