MiLife Insurance Company Limited has handed over a cheque of GH¢115,562.50 to the Health Services Workers Union (HSWU) as a death benefit for one of its members.
Madam Juliana Bugri, the Finance Committee Representative in the Upper West Region, had taken the insurance policy in 2020 before her passing, and the amount will be given to her two children, who were designated as her next-of-kin.
Mr Walter Yeboah Adofo, Chief Financial Officer at MiLife Insurance Company Limited, highlighted the company's vision to be a leader in the insurance industry, assisting customers in building their premiums one customer at a time.
He emphasized the company's commitment to collaborate with institutions and associations to provide insurance coverage to the grassroots, ensuring that members can afford insurance policies that offer financial security in the face of life events such as death or disability.
In 2019, MiLife Insurance Company and HSWU joined forces to extend insurance coverage to union members. Madam Juliana was one of the union members who purchased a policy.
Mr Adofo expressed, “Today, we have gathered to fulfil the promise made under the policy. Our late mother designated the benefit for her two children, and today we are presenting a cheque for GH¢115,562.50, representing the policy benefit she acquired.”
Mr Franklin Owusu Ansah, the General Secretary of HSWU, expressed gratitude to MiLife Insurance Company for honouring their commitment and encouraged all members who are not yet enrolled to join and benefit from the policy.
He explained that according to the agreement with the insurance company, members can contribute between GH¢15.00 to GH¢150.00 per month for one year.
Upon retirement, a member is entitled to receive their contributions plus a 10% additional amount. In the event of death or incapacitation, the member's contributions for the period are paid out along with a 20% additional amount.
Mr Ansah announced that their colleague would be laid to rest on Saturday, May 27, 2023, and the union would present the cheque to the two children.
He reiterated the importance of all union members joining and encouraged all health sector workers, even those who are not currently union members, to consider joining.
Mr Joshua Ansah, Deputy Secretary General of TUC (Ghana), commended the initiative of HSWU and called on other unions to follow suit.
He stated, “Unions play a vital role for members beyond negotiations, and today's presentation is commendable. I encourage all unions to embrace such initiatives.”
