56-year old Mohammed Eshun, a driver and leader of a group of drivers, took a loan of GHS 30,000 (USD 5,829) from the Tema branch of Opportunity International to purchase a vehicle. Being the Group Lead, the loan was disbursed to his account.
Mohammed fell ill whilst battling acute coronary syndrome and severe hypertension and sadly passed away.
Upon submission of all relevant documents by the family through the branch, Enterprise Life paid Mohammed’s outstanding loan plus one month’s interest amounting to GHS 8,522 (USD 1,656) to OISL.
Razak Eshun, Mohammed’s son and next of kin, also received a cash benefit of GHS 1,500 (USD 291)
He intends using the money as a start-up capital for his own business venture.
He said “I did not believe the insurance was real until I benefited from it.”
About OISL’s Credit-Linked Insurance (“Obra Pa”)
Credit-Linked Insurance (“Obra Pa”) is an insurance policy for all OISL loan clients between 18-70 years who are resident in Ghana. The policy covers Life of the borrower, Permanent Disability, Hospitalization, Life of Spouse and up to 3 children of the borrower as well as Destruction of loan-linked stock/property by Fire and Allied Perils.
Premium is 1% of the loan principal amount.
The policy is underwritten by Enterprise Group and powered by MicroEnsure.
For more information, simply visit any branch of Opportunity International Savings and Loans Limited.