By Eric Haurupma – EM TV News, Port Moresby
More than 10,000 registered Teachers Savings and Loans members will benefit from their life savings insurance contribution of K30.
This contribution is part of their life insurance benefits that will cover the cost of their death, for immediate families and their dependents.
This was affirmed today with a MOU signing between National Teachers Insurance Limited and the Public Employers Association.
Their benefits include funeral expenses, medical and hospitality expenses, maternity care and travel expenses outside of Port Moresby during holidays.
She said with the current registered members this partnership would be a milestone event for the organization that will boost it thanks to the K30 premium.
National Teachers Insurance Limited Chief Executive Officer, Ure Rauke, said the organisation has made the right decision to sign the MOU with the Public Employers Association.
He said this is because an organisation cannot live without insurance contributions, and this partnership will further develop the organisation.
Other benefits include a net assets profit of K40 million, including the Insurance Rumana Building and staff houses in North Waigani and a return of 30 per cent for clients every year.
With this partnership, National Teachers Insurance will provide the service that Public Employers Association is looking for.
Pubic Employers Association General Secretary, Peter Togs, said this will give a sense of security to public servants during the time of death.