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Innovative Claim Disbursement (Ramatu Iddi – Life Claim)

Innovative Microfinance > News > News > Innovative Claim Disbursement (Ramatu Iddi – Life Claim)

Ramatu Iddi was a client of Innovative Microfinance until her sudden death on the 8th of June, 2017. Ramatu dealt in rice and sugar at the Ashaiman market. On 31st March 2017, she borrowed an amount of GHS 1,000/USD 225 to augment her business capital. She repaid her loan loyally for the 5 months that run after the loan until her unfortunate passing. Ramatu needed to restock her shop at Ashaiman so she went to her warehouse at Tema. Unfortunately, while she was in the warehouse, a truck carrying containers accidentally dropped one of the containers on her warehouse. Ramatu died instantly.

Ramatu’s daughter, Zaharawu was presented with a cheque in value of GHS 500/ USD 113 to compensate the family on their loss. Ramatu’s outstanding debt of GHS 487.50/USD 110 was also paid to Innovative Microfinance.

Zaharawu visited the Innovative, Ashaiman branch with her husband and Aunties to receive the claim benefits. The family was grateful to Innovative that their loans had such insurance protection. They could not believe that the institution had paid the outstanding balance and also given them some extra cash compensation. Zaharawu’s husband was so impressed that he requested for account opening forms and opened an account immediately.