Leadway Assurance has signed a Memorandum of Understanding with Federal Civil Service staff of the Nigeria Cooperative Society Union to provide over 300,000 civil servants with affordable tailored insurance cover.
The insurer revealed in a statement that the Memorandum of Understanding between it and one of Africa’s largest cooperative society apex bodies covers ministries, departments and agencies in Nigeria, with over 150 registered cooperative societies and more. of 300,000 members from the country’s 36 states. .
“The comprehensive plan provides members of the society with group life insurance, a personal accident plan and group deposit administration, which guarantees the insured or beneficiaries the compensation required in the event of accident, disability permanent or death benefits, all at an affordable premium,” he said.
Speaking at the signing ceremony, the Executive Director of Sales of Leadway Assurance, Mr. Olusola Ajayi, said the insurance scheme is a major step in entrenching the insurance culture in Nigeria for deepen insurance underwriting in the country.
He said: “I am particularly proud of this partnership as it shows that we are on the right track to create a positive attitude towards insurance. As we know most Nigerians including educated people do not appreciate the essence of insurance despite its many benefits and that is why it is comforting to get the membership of the largest African public service in this all-too-important financial management tool.
“Understanding the current economic realities associated with the fact that we can never be adequately prepared against unforeseen circumstances and how difficult it is to pay the costs incurred during serious illnesses or accidents, which we have done through this partnership is to combine tailor-made policies designed to meet the basic needs of civil servants.
“The added sweetener is that these policies come at an exceptionally affordable premium, ensuring no one is left behind.
Also speaking on the partnership, the Federal Civil Service Staff Chairman of the Cooperative Union of Nigeria, Mr. Onjefu Obe, said that “the partnership echoes the vision and mission of FedCoop, which is to eradicate poverty and provide the necessary financial support for all. our members.