Roseau, Dominica, May 31st, 2018 – FastCash Dominica is pleased to announce insurance payments to several customers under its Group Payment Protection Plan. Introduced in May 3rd, 2016, the insurance is designed to cover the client’s monthly obligations in the event of Death Critical illness, Temporary or Total Disability and Involuntary Loss of Employment.
Coming out of the devastation of Hurricane Maria in September 2017, when many residents lost their jobs completely or were out of work for an extended period, FastCash encouraged their clients to come into the office to submit claims for coverage under the plan. These claims were approved in May 2018, which resulted in several customers receiving as many as 6 months worth of payments.
“After Hurricane Maria we wanted to do something for our clients, and prioritizing the filing of these insurance claims was just one part of a 3-tiered plan”, said Yuri Jones, Country Manager of FastCash Dominica. Mr. Jones said, “we also offered a three-month grace period and launched two new loan products, geared at making our clients recovery efforts more affordable”.
According to Mr. Jones, “After much research to ensure that we met the conditions outlined for the group protection plan, several claims were filed between December 2017 and March 2018. The claims were approved and applied to our clients’ accounts in May, and we were happy to inform customers of the good news”.
One happy customer, Ms. Jennifer Carlisle said these payments brought her great relief. “After my layoff from work I was not able to cover that month payment, so when I found out about insurance payments, I was elated”.
In an interview, Ms. Carlisle confessed she don’t know what she would have done if her loan wasn’t insured and expressed her gratitude To FastCash for giving her peace of mind. “I am thinking, even though its salary deductions, it is not stressful for me to pay monthly and it is always a nice feeling for me to find out this part of my debt is covered”.
She continued, “I thought nothing of insuring a loan, I did not understand the concept of insuring a loan then, but now I know, it really paid off and I would encourage anybody to choose FastCash because all their loans are insured”.