From L- R: Head, Life Retail Business, Bolorunduro Saliu; Head, Corporate Services, Olubunmi Adeleye; General Manager, Life Business, Tinashe Muyambo and Head, Sales & Distribution, Life Business, Oluwafemi Adebayo all of Leadway Assurance Company Limited during the unveiling of the ‘See-finish Campaign’ for the launch of the Leadway Family Benefit Plan Plus held in Lagos on Friday, 22 March 2019.
Leadway Assurance has announced that it has made new exciting additions to its bouquet of products by the introduction of the new Leadway 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.
The core offering of the product, called the Leadway FBPP, provides those covered under the policy with 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 concerned loved ones can meet the immediate needs of the family without the fear of falling into financial strain.
The Leadway Family Benefit Plan Plus allows a policyholder to access a bouquet of benefits, which includes but not limited to funeral expenses for the policyholder or their Spouse, 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, Leadway Assurance kicked off a week long teaser tagged; “See-Finish” heralding the product 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.
According to Tinashe Muyambo, the General Manager of Leadway’s Life Division, the new Leadway FBPP is now 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, for parents and in-laws the sum assured up to maximum limit of N5 million Naira.
According to him, “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 6 months, while for parents and parents in-law its 9 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. Stating that the policy runs as long as the Assured Lives are alive and subject to the Policyholder being alive.