Leadway Assurance
By
Bankole Orimisan
Determined to bridge the financial protection gap and increasing the
rate of insurance penetration in Nigeria, Leadway Assurance has has made
new exciting additions to its bouquet of products by the introduction
of Family Benefit Plan Plus (Leadway FBPP).The Leadway FBPP has been
enhanced to create unmatched value for customers, who now stand to gain
from the multi-life policy initiative.
The core offering of the product includes the benefit of having Leadway
meet the heavy burden of specified funeral expenses for their loved ones
covered under the policy.
Leadway pays the specified funeral expenses in the event of the demise
of the policy-holder or any of the additional assured lives, if their
death precedes that of the policyholder, ensuring loved ones can meet
the immediate needs of the family without the fear of falling into
financial strain.
The new product allows a policyholder to access a bouquet of other
benefits, which includes, but not limited to funeral expenses for the
policyholder or the spouse, but the parents and/or parents in-law that
are named in the policy.
As part of efforts to inform the public about the benefits of the new
Leadway FBPP, the company kicked off a week long teaser,
tagged: “See-Finish”, heralding the product’s launch.
The teaser mirrored the reality of young Nigerians, who are left in
financial distress when aged family members pass away, especially,
parents and in-laws to mention but a few. It is at this difficult time
the grieving ones are often left at the mercy of sometimes merciless
benefactors.
The campaign showcased a desperate character “Mr. John”, reaching out to
Nigerian celebrities on social media, to beg for financial assistance
to meet the funeral expenses of his father in-law’s burial.
Also, the campaign was taken to the streets of Lagos with “pseudo Johns”
situated at strategic locations around Lagos carrying the campaign
message, urging Nigerians to “avoid the shame of See Finish” and take up
Leadway FBPP as a comfort to create wealth for their dependents.
The General Manager, Leadway’s Life Division, Tinashe Muyambo, said the
new product was designed to provide more than just the funeral benefits
upon the death of any of the assured lives.
With some additional benefits built into it as compensation package
for the surviving and grieving loved family members of the Policyholder.
Tinashe revealed that the sum assured on the plan for the policyholder
and spouse is unlimited and can be specified in accordance with their
preferences, but for parents and in-laws, the sum assured has a maximum
limit of N5 million.“This Leadway FBPP plan has other unique benefits
including; payment of a sizable amount for entertainment expense in the
event of any of the assured life named in the policy and additional
monthly payment for six months in form of family income in the event of
death of the Policyholder only.
“The plan also has a waiting period before any claim can be made, for
policy holder and spouse its six months, while for parents and parents
in-law its nine months”.Tinashe also explained that a policyholder and
the spouse must be less than 65 years old to get enrolled on the plan,
while the maximum entry age for parent/parent-in law on the policy is 75
years old, adding that the policy runs as long as the assured is alive
and subject to the policyholder being alive.
The United States government has put Kenya on a list of global hotspots
for money laundering, citing insufficient controls on the circulation of
dirty cash and the lack of laws against terrorism financing. FILE PHOTO
| NMG
