miLife Insurance, GNAT pay GHS30,866.00 disability claim

miLife and Ghana National Association of Teachers (GNAT) have paid a disability claim of GH¢30,866.00 to a teacher.

miLife redeemed the claim in partnership with GNAT, to Madan Sophia Quainoo, a teacher at Swedru Basic ‘B’ School in the Agona East District.

Claim has paid over 4550 retirement benefits and 770 death and disability benefits amounting to GH¢24.5 million to teachers and their loved ones.

Presenting the cheque, Mr Benjamin Nketia, the Business Development Manager, said since 2016, miLife had experienced extraordinary growth, surpassing GH¢200.00 million in premium income by 2022 and rising from the 17th position in 2005 to a prominent 5th position in 2023 in the life insurance industry ranking. 

“The organization’s dedication to excellence and growth was recognized by the prestigious Ghana Club 100 Awards, crowning miLife as the leader in the insurance industry for 2022,” he added.

He said the product “GNAT Heritage Cash back Plan or policy” returned all of a member’s premium with a bonus of 20 percent at the end of the ten years policy term, if no claim was made.

He said the partnership was contributing to the overall well-being of teachers by providing them with financial security.

The relationship between miLife, GNAT and the teaching community had fostered a sense of support and mutual benefit, the Manager said.

“We have similar arrangements with unions such as Health Service Workers Union and Judicial Service Staff Association.”

Receiving the cheque, Madam Quainoo, the beneficiary, said the policy was real and that it was not difficult to redeem one’s claim.

Mr Daniel Lavoe, Agona Swedru Municipal GNAT Chairman, encouraged more GNAT members and the public to enrol on the policy.

Source: GNA