Globalrisk Insurance Company (GIC) – SL Ltd., one of Sierra Leone’s leading insurance companies, has upheld its commitment to customers by disbursing over NLe127,440 to beneficiaries of 16 families under its Gentri Assurance Policy and Guaranteed Education Assurance Policy. This payment covers claims for deceased customers from January to December 2024.
Speaking during the presentation ceremony, GIC’s Chief Executive Officer and Managing Director, Mr. Paul Oparah, reaffirmed the company’s dedication to improving the lives of its policyholders, especially civil servants. He emphasized that the Life Assurance Scheme is designed to enhance long-term financial planning, enabling families to achieve a comfortable lifestyle despite global economic challenges.
Mr. Oparah highlighted that GIC, which began operations in 2020, has branches in Makeni, Bo, and Kenema, with its headquarters at 2 Wellington Street, Freetown. The beneficiaries of this initiative included families of deceased teachers, police officers, and other civil servants who were enrolled in the company’s Life Assurance Scheme.
He noted that some of the deceased policyholders joined GIC as recently as 2022 and 2023, yet their beneficiaries received payouts exceeding what the deceased might have saved over two decades. “This is the beauty of life insurance,” he remarked, “offering not only financial protection but also additional services such as policy loans.” He revealed that GIC has been granting policy loans since 2021, disbursing over NLe300,000 monthly to customers nationwide in 2024.
The Life Assurance Scheme aims to ease financial burdens without requiring collateral, as the policy itself serves as security for loans. Mr. Oparah expressed his condolences to the families of deceased customers and encouraged more Sierra Leoneans to join the scheme. He urged private sector organizations to design services that uplift citizens’ lives, noting, “GIC is committed to improving the lives of Sierra Leoneans by bringing financial services to their doorsteps.”
GIC’s life insurance offerings include:Gentri Assurance Plan, Guaranteed Education, Assurance Plan, Mortgage Assurance and Group Life Insurance Scheme.
The Guaranteed Education Assurance Plan, for instance, allows parents to save for their children’s future education while providing financial support up to the child’s 18th birthday in case of the parent’s death.
Beneficiary Stories are family members of the beneficiaries expressed gratitude during the ceremony. Emmanuel Fabba, whose late brother Jusus Fabba was a teacher, admitted to having doubts about GIC in the past. However, after witnessing the presentation of cheques, he praised the company’s reliability and pledged to spread the news in Bomie Chiefdom.
Among the beneficiaries:the family of Late Mabinty Tholley, a teacher at Sham Sierra Islamic Secondary School, Waterloo, received NLe25,800. The family of Late Tamba Michael Samadia, a police officer in Koindu Town, received NLe10,100.
The family of Late Jariatu Kanneh, a teacher at Crown Academy Primary School, Waterloo, received NLe16,583. The family of Late Abu Osman Kamara, a teacher at Kankaylay Islamic Primary School in Port Loko District, received NLe12,100.
The ceremony concluded with the presentation of cheques and a call for more individuals, especially teachers and police officers, to join GIC and benefit from its customer-centric policies.
