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L-R: Head, Retail Distribution,
FBN Insurance, Odinaka Umekwe; Director, Business Segment, Etisalat Nigeria,
Lucas Dada; and General Manager, FBN Insurance, Segun Balogun at the launch of
Sure 4 Life, an airtime-based FBN Insurance life policy in partnership with
Etisalat Nigeria, held at Marina, Lagos.
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FBN Insurance Limited, a member
of FBN Holdings Plc and Etisalat, Nigeria most innovative telecoms company
today announced the launch of ‘Sure4Life”, an airtime-based insurance product
designed to increase penetration and consumer access to affordable insurance
products via the mobile telephone. The product will help drive availability and
accessibility to a vast portion of the uninsured Nigerian population and will
provide Etisalat customers with one month free life insurance cover between May
and July 2014.
Speaking at the launch, Director,
Business Segment at Etisalat Nigeria, Lucas Dada, said that the partnership
will bring inexpensive and easy to reach insurance products to the benefit of
Etisalat’s growing prepaid and post-paid customers.
“Sure4Life is an innovative
insurance product which takes away all the challenges that may be associated
with taking an insurance policy and allows our subscribers to access and
maintain insurance coverage with ease. It is in line with our reputation as the
most innovative telecommunications company to provide such life changing
products to our customers”, he said.
Dada added that the plan is optional
and open to all registered Etisalat subscribers that are between 18 and 80
years of age.
Managing Director and Chief
Executive Officer, FBNLife, Val Ojumah, said the initiative will help correct
the inaccurate perception that insurance is only for the rich and reduce the
complexities and paperwork often associated with insurance. The initiative also
supports our aspiration to bring the benefits of insurance to Nigerians who
otherwise would have remained uninsured.
“We are proud of our increasing
contributions to the growth and development of the insurance industry in
Nigeria and assure all stakeholders of our continuous efforts to bring the
latest innovations in the business for the benefit of the Nigerian populace. We
believe in the strength and sustainability of the telecommunications approach
to the insurance business and our ambitions are focused on working together to
further enhance the growth and improvements over the coming years”, concluded
Ojumah.
With a monthly insurance premium
of N100 monthly, registered Etisalat subscribers will have the benefit of a
flat sum of N100, 000 payable to the beneficiary in case of demise of the
policy holder and a maximum of N10, 000 for medical expenses in the event of an
accident. Death benefit per any one life shall be limited to NGN200, 000
(maximum of two Etisalat registered numbers), whereas the medical expenses
benefit per any one life shall be limited to NGN20, 000 (maximum of two
Etisalat registered numbers).
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