LIFE INSURANCE
- Home
- Life Insurance
LIFE INSURANCE
At Post Assurance Brokers Limited, we understand that life is unpredictable, and protecting your loved ones’ future is a priority. Our life insurance offerings are designed to provide financial security, peace of mind, and long-term stability, no matter what life throws your way.
In life, the future is very important, hence, everyone is planning for tomorrow. This therefore requires that adequate arrangements need to be made in case of untimely death before retirement age and during the retirement period. The plight of the family of Assured left behind in case of death is equally important, so adequate life cover needs to be in place.
We are well-positioned to meet this need of prospects and can arrange the following policies in this regard at “NO FINANCIAL COST” from us, as our professional services to you are free.
“Don’t Wait for Risk to Strike – Insure with Us Today!
Individual Life Assurance is a personal insurance contract designed to provide financial protection to an individual’s beneficiaries upon their death. It ensures that a predetermined benefit (the sum assured) is paid to the nominated beneficiary, whenever the insured person passes away, provided premiums are maintained as agreed.
a. Whole life insurance is a type of permanent life assurance that provides coverage for the insured person’s entire lifetime, as long as premiums are paid. It’s distinct from term life insurance, which only covers a set period. Whole life insurance offers a guaranteed death benefit and a cash value component that grows over time.
b. Endowment Assurance provides a lump sum payout either on the insured’s death during the policy term or on survival to the end of the term, whichever occurs first. It combines life cover with a savings or investment component.
c. Term Assurance is a life assurance policy that provides coverage for a fixed period (term) If the insured person dies within this period, the insurer pays the agreed sum assured to the nominated beneficiaries. If the insured survives the term, no benefit is paid, and the policy expires.
d. Mortgage Protection Insurance the policy is designed to repay the outstanding balance of a mortgage if the policyholder dies during the mortgage term. The payout goes directly toward settling the mortgage, ensuring the borrower’s family or estate is not burdened with repayment.
Group Life Assurance (GLA) is a mandatory insurance policy required by the Pension Reform Act (PRA) 2004 (as amended in 2014) for all employers in Nigeria with three (3) or more employees. It ensures the financial security of employees’ beneficiaries in the event of the employee’s death while in active service. The employer must maintain a life insurance policy equal to at least three (3) times the employee’s annual total emoluments (basic salary, housing, and transport allowances). The Group Life Assurance policy can also be taken by Association or club to provide cover eligible club members.
It is a specific type of life assurance policy designed to pay off a borrower’s outstanding debt if they die, Permanently disabled or critical ill before the loan is fully repaid. This form of insurance is typically offered by lenders when a person takes out a loan, such as a mortgage, car loan, or personal loan. the Insurance payout the outstanding balance of the loan amount.
The policy provides financial compensation in the event of injury, disability, or death resulting directly and solely from an accident. It is distinct from health insurance, which covers medical expenses from illness or disease, and life insurance, which provides a death benefit from any cause (with some exceptions)
(GPA) insurance is a policy purchased by an employer to provide coverage for a group of employees against injuries, disabilities, or death resulting from an accident. It is a key component of a comprehensive employee benefits package.
What You Gain from Our Life Insurance Plans?
Ensures your family is financially protected in your absence. Helps cover expenses such as school fees, mortgage, and daily living.
Relieves the burden of uncertainty with a safety net in place. Allows you to focus on living well today, knowing tomorrow is covered.
Facilitates wealth transfer and protects your assets for future generations. Helps settle estate taxes or outstanding debts without stress on your heirs.
