▣ Payment of a guaranteed sum of money (sum assured) in the event of death, disability or diagnosis of a critical illness.
▣ The amount payable is specified in advance by the policyholder
▣ Minimum sum assured is N500,000.00 while the maximum benefit is N5,000,000.00.
▣ Payment is made to the person named by the policyholder (e.g. wife, child etc)
▣ Policyholder stops payment of premium at age 45, 50, 55, 60 or 65, yet cover continues for life.
▣ Policyholder pays a single premium (purchase price) or annual premiums to NSIA Insurance Limited to secure the guaranteed benefit
▣ A policyholder who purchases the product between ages 60 and 65 can only pay single premium. He cannot pay annual premium.
▣ Medical examinations may be required in certain cases

▣ On Death or Disability
NSIA Life pays the guaranteed sum assured to the policyholder’s named beneficiary/ies in the event of death after the waiting period of three months as in the case of non-accidental deaths.

▣ On Discontinuation
In the unlikely event of the policyholder stopping payment of the premium within the policy period, no benefit is payable as the policy is automatically discontinued. Since the product is low-cost, payment of a single premium is recommended to immediately obtain valuable life insurance protection for the specified period.

This product is suitable for anyone who wants a life cover and some level of profit for a lengthy period of time.

Except for accidental death, the policyholder waits for three months from the effective date of the policy before rights to benefits starts to accrue.