Monday, August 25, 2025
27.7 C
Lagos

Leadway Assurance: ‘Nigerians Should Buy Term Life Assurance Policy’

Ms. Adetola Adegbayi, Executive Director, Leadway Assurance Company Limited has urged Nigerians to subscribe to Term Life Assurance product, saying, ‘people should form the habit of buying what they cannot save, through term assurance policy.’

Speaking at the Leadway Assurance Media Training for Insurance and Pension journalists in Lagos, Adegbayi stressed that with little premium, people can buy this unique product that has a minimum Sum Assured of N1 million, urging the middle and low income earners to see this package as an opportunity to enrich their lives.

Using Leadway Term Assurance product as an example, she said the plan is a simple but flexible life assurance product that pays out a lump sum if death occurs during the period of cover.

‘You choose the amount of that lump sum and the length of cover and your premium is calculated accordingly’, she said.

For an additional sum, she said, intending subscriber can extend cover to apply to critical illnesses or becomes permanently disabled because of an accident anywhere in the world.

“You can choose to pay your premiums in a way that suits you best: you can pay a single one-off premium, or you can pay monthly, quarterly, half-yearly or annually. The premium you pay qualify for tax relief and can therefore reduce your tax bill,” she noted.

He stated that a policyholder has the right to cancel his or her policy and receive a full refund of premiums paid if done within 30 days of receipt of the full policy documentation.

She added: “Take a little money to buy a N10million to N15 million policy. If anything should happen, your family has about N10 million to fall back to. It takes care of school fees of your children and other financial needs. May be, you can buy N10 million with N50, 000 premium for example.”

spot_img
spot_img

Hot this week

Businessman, Ajose, Donates Materials to APC for Continuous Voters Registration Exercise

As part of efforts to support the rulling All...

LASAA Reaffirms Commitment to Fairness, Safety, Industry Growth

Prince Fatiu Akiolu MD, LASAA Lagos State Signage and Advertisement Agency...

Fidelity Bank to Convene Strategic Panel on Export Financing at FNITCC Atlanta 2025

As part of its ongoing commitment to expanding Nigeria’s...

Polaris Bank, NCF Partner on Tree-Planting Drive to Combat Carbon Emissions in Rivers

Polaris Bank has partnered with the Nigeria Conservation Foundation...

Stanbic IBTC Bank Unveils Return of Exclusive Save and Enjoy Promo Season 2

Stanbic IBTC Bank is once again raising the bar...

Topics

Nigeria Leaps Mobile App Growth in Africa at 43%

  AppsFlyer, the global marketing measurement leader, has launched a...

Banks’ Advert Spend Rose by N164m in July 2019

P+ Measurement Services, a media intelligence and audit agency...

Stanbic IBTC Wins CIPM Awards

(L-R) Tosin Leye-Odeyemi, Head, Reward, Analytics & Reporting, Stanbic IBTC...

NLNG: $18bn Dividend, $18bn FDI, $9bn in Taxes, $1.2bn Vendor Finance, 100% Nigerian

Philip Mshelbila Managing Director/CEO Nigeria LNG Limited The Nigeria LNG Limited (NLNG)...

Buhari Unveils eNaira in Abuja

President Muhammadu today unveiled the eNaira initiative by the...

Adekunle Gold, Wande Coal, Young Jonn Set to Thrill Fans at Lagos Shopping Festival

Lagosians are in for the most exciting music extravaganza...
spot_img

Related Articles

Popular Categories

spot_imgspot_img