Registration for the PSGH-Glico life insurance package has closed for the year. The flagship welfare scheme of the President Samuel Kow Donkoh-led administration kicked off with a good start, with some 751 pharmacists showing interest by registering and exactly 367 of them confirming their enrolment by paying their premium.
It may be recalled that at the 2022 AGM in Tamale, members were informed of an enhanced welfare package. In addition to the new Welfare Package, members were also informed of the Governing Board’s resolution for members to take on Group Life Insurance Policy. After an extensive review of various proposals from the Life Insurance Companies by the PSGH Welfare Committee, GLICO Life Insurance Company was chosen based on the benefits they offered. For an annual premium of GH¢120, the benefits include Life Insurance, Critical Illness, Permanent Disability, Death of Spouse, Child (Max.3) and Parents (Max.2) Benefits.
In an interview, Prez Sam Donkoh called the scheme “a success”, saying that “he is delighted that more than 350 pharmacists have some financial risk protection against critical illness, permanent disability, and death of self or close relative”. He further called for continuous education of members to understand life insurance and hope that the numbers get better in the coming years.
Considering that the Society in the past has received several calls for support from pharmacists of all ages for emergencies, the President, however, bemoaned the low uptake of the policy by young pharmacists, who perhaps may have a certain false sense of “security”. “You may perhaps believe that you are young and can save enough money to replace your assets, should anything happen to you. However, considering the uncertainties that life is all about, have you ever asked yourself the question: ‘What if something happens to me? Will I be able to provide a financially secured life for my loved ones?”, he queried rhetorically.
In a related development, one pharmacist who enrolled on the scheme and suffered a critical condition that required an emergency surgery has successfully received a compensation of 15,000 under the critical illness cover. The whole process, from making claims through processing to payment was completed in less than five working days.