Product overview
Life Insurance & Investment explained
Life cover ensures your loved ones are financially protected when you can no longer provide for them. Investment-linked and endowment products combine life cover with disciplined savings — ideal for school-fee planning and retirement.
Why life cover matters
Life insurance pays a benefit to your nominated beneficiaries if you die during the policy term. Investment-linked variants also build savings you can access later in life — for school fees, a deposit, or retirement.
Why you may need it
- Income replacement for your dependants in the event of death.
- Disciplined savings with built-in life protection.
- Tax-advantaged status under Nigerian tax law.
- Optional riders for critical illness and permanent disability.
Plan types
- Term Assurance (pure protection, no savings).
- Endowment Assurance (protection + guaranteed lump sum).
- Educational Endowment (school-fee planning).
- Anticipated Endowment (with periodic cash payouts).
- Investment-Linked Assurance (savings tied to investment funds).
- Immediate and Deferred Annuities (retirement income).
What you need to apply
- Identification (NIN, passport, or driver's licence).
- Date of birth and medical history declaration.
- Beneficiary details (full name, relationship, percentage).
- Medical examination, for higher sums assured.
Common exclusions
- Suicide within the first two years of the policy.
- Non-disclosure of material health facts at application.
- Death from criminal acts.
- Acts of war or civil disturbance.