Insurance
Insurance
We offer a variety of insurance products that are of top quality and cost efficient. They include:
LIFE
The primary purpose of life insurance is to provide a financial benefit to dependents upon premature death of an insured person. The policy pays a specified amount called a “death benefit” to the named beneficiary, when the insured dies. Life insurance, helps your family stay financially independent, square off liabilities taken in the form of loans, maintain the life style provided by a key member, and assist keep essential family goals on track. Categories under life insurance are:
Endowment
Endowment Policy is a superior individual life cover that provides the double benefit of life protection whilst serving as an inflation safe savings plan. It combines life insurance coverage with a guaranteed pay-out at the policy's maturity.
Education
An education insurance policy is a type of life insurance product that is designed as a savings tool which pays a lump sum to cover your children when they reach 18 years or above, and about to join the university. Education policy allows for a systematic and easy way to save for your child's financial education needs.
Personal accident
Personal Accident Cover is a specialized insurance product designed to provide financial assistance in the event of accidental injury, disability or death. It offers a wide range of coverage options to suit individual needs. Personal Accident Cover provides financial security in case of accidents, offering support for medical bills, rehabilitation, and additional financial assistance during recovery or death
Benevolence (last expense)
This is a policy that runs for a life as per premiums which are payable annually or as a single premium. The product provides cover for funeral expenses to declared family. The product covers self, spouse, four children below the age of 18 years and a total of two parents be they parents or parents-in-law.
MEDICAL
- Family and group/ corporates medical cover
- Individual medical cover
-this is a cover that mitigates for unplanned sudden expenditure on medical expenses thereby giving a family or corporates the financial security that the y desire. The corporate medical cover insures a group of professionals working under an organization against pre-defined medical issues.
-this insurance plan provides medical c overage to individuals based on their specific sum assured. Unlike family and group corporates medical cover, this cover requires separate purchases for each family member therefore allowing for personalized coverage based on individual health needs.
INVESTMENTS
- Money market funds
- Group/corporate investment plans
- Individual pension retirement plans
-This is a type of unit trust fund that invests in low-risk investments with an element of stable returns such as fixed deposit accounts, treasury bills or in a commercial bond. A money market fund invests mainly in fixed income securities with short investment duration and high credit quality.
-this plan encompasses a long-term commitment of financial funds in material and immaterial assets by a registered group or a group of professionals working under an organization. Example of plans include real estate syndication projects, government guaranteed projects such as those under the Vision 2030 and other business projects.
in this plan an individual or the employer on behalf of the individual actively makes contributions to the pension scheme. On retirement or death, a third of the accumulated benefit is paid to the individual or beneficiaries as a single lump sum and the remaining two thirds purchases a pension annuity which pays a guaranteed regular income for life.
An individual can also opt for individual provident fund (IPF) which is a plan specially designed for those individuals whose employers do not provide a pension scheme; or those who are self-employed and wish to participate in an individual scheme. If a member leaves before the retirement age, he may opt for one of the following: -Leave his benefits in the scheme and receive a deferred pension purchased at the time of normal retirement or transfer the accumulated contributions to any other registered scheme. In the event of the death of a member, a pension scheme can provide benefits to the dependents.
GENERAL INSURANCE
Offers coverage to the insured vehicle against financial losses due to an accident or one resulting from other damages. A comprehensive motor insurance policy covers damages to third-party and third-party property along with compensating for own losses as well. The type of covers we offer include;
- Third Party Only
- Third party, fire & theft
- Comprehensive
We offer policy extensions on;
- Personal Accident Benefits
- Political violence and terrorism
- Excess protector
- Forced ATM withdrawal
