KAMPALA —Life insurance solutions provider, Liberty Life Assurance, has honored a UGX 100 million life claim of Late Robert Mugumya, saving the family from a huge loan burden.
Mugumya who died recently had acquired a UGX 100 million loan from Ssese Oil Palm Growers Association Sacco (SOPAG) to purchase land for farming.
While Kalangala based-SACCO mourned the unfortunate loss of their member, they notified Liberty Life Assurance of the same for the payout.
Mr Joseph Almeida, the Managing Director, Liberty Life Assurance on Thursday, April 18, 2024, said the company will pay off the outstanding loan balance, thereby saving the family from the burden of repaying the loan.
“Liberty Life Assurance profoundly reassures its commitment to honour claims of the SOPAG farming community whose legacy will endure through the support provided by their credit life insurance policy,” said Mr. Almeida.
“Mugumya Robert was not just a farmer; they were the embodiment of hard work, dedication, and resilience. Their passion for agriculture and commitment to his family were evident in every aspect of his life. Today, as we mourn with the family of their loss, we also celebrate the security and peace of mind that their credit life insurance policy has provided for their loved ones,” he added.
Liberty Life Assurance has also entered into a partnership with SOPAG, through the launch of a very affordable policy known as ‘AFYA plan’.
Mr. Almeida said the financial product is a promise of support during the most challenging times such as diagnosis of critical illnesses, total permanent disability, and hospital cash.
Ms. Juliet Murungi Okwi, the Head of Marketing at Liberty Life Assurance said family of the policyholder is saved from the burden of the loan payment and the loss of investment.
“Liberty Life Assurance is honored to stand by the family of the late Robert Mugumya ensuring that their dreams, aspirations, and financial security are preserved as they navigate through this difficult period,” said Ms. Murungi.
She added: “Liberty Life Assurance Uganda Company continues to reaffirm its unwavering commitment to providing compassionate and comprehensive support. We stand ready to assist the family with any and all insurance-related matters.”
