Leadway Assurance Company Limited, an indigenous Nigerian company that has grown in leaps and bounds over the years has launched a new revolutionary Life product named the Leadway Family Benefit Plan Plus (LFBPP).
The product is a multi-life policy designed to cover funeral expenses for the assured lives (spouse, parents and/or parents-in-law that are named in the policy) and the policy holder (person who purchased the policy). The policy helps to alleviate and bury the worries associated with the funerals for elderly loved ones.
With a new video that shows some of the benefits of the plan and a nationwide awareness campaign called #AffordTheFuneral, the company launched the product to press and partners on the 13th of May 2015 at its office in Lagos.
Giving details of the new product, Head, Life Retail, Mr. Femi Adebayo, explained that the policy provided funeral benefits in respect of all the assured lives as long as their death preceded that of the policyholder. The policy also provided other extra benefits that cover the policyholder only. For instance, the policy offered additional monthly payments to the beneficiaries of the policyholder in the event of his demise. The Family Benefit Plan Plus, in his own words, was one of the ways in which Leadway Assurance was making life beautiful for its customers.
Also speaking at the product launch held at the Corporate office of Leadway Assurance in Lagos on Wednesday, the General Manager, Life Division, Mr. Shadrack Sivhugwana said he expected that the “…demand for Funeral insurance will be the main driver of insurance growth in Africa in the next couple years.” He invited the public to take advantage of the new product and be prepared when the inevitable happened.
Established over 45 years ago, LEADWAY is a composite insurance company underwriting both Life and General Insurance business with 23 branches spread across Nigeria. LEADWAY’s reputation has been attained by the continuing pursuit of improvements to maintain its competitive advantage within a very soft market environment. The company also offers subsidiary financial services like Bonds, Secured Credit, Miscellaneous financial losses and Fund/Portfolio management.