Under the umbrella of the Nigerian Council of Registered Insurance Brokers (NCRIB) Lagos Area Committee (LAC), insurance brokers have presented a School Fees Protection Plan and Kiddies Insurance, named School Care Cover, valued at N15.3 million to victors of a secondary schools quiz competition.
Procured and provided by Universal Insurance Plc, this insurance scheme offers a limit cover of N2.5 million for one year to each of the six winners from the quiz competition.
The recipients, Master Sanni Shazily, Miss Zainab Adelabu, Miss Zubeidat Idris, Master Michael Ogunade, Miss Misturat Folorunso, and Master Qudus Alamu, emerged triumphant from the competition among nine schools across the state.
This coverage encompasses medical expenses worth N150,000, permanent disability benefit of N500,000, death benefit of N500,000 for the students, and permanent disability benefit of N700,000, along with a death benefit of N700,000 for their guardians (parents).
Ademola Olutusin, Chairman of NCRIB-LAC, highlighted that the insurance provision aims to safeguard the students’ medical expenses and also guarantee education funding for the students in case of unforeseen circumstances affecting their parents.
The quiz competition is part of the Area Committee’s initiative to engage and enlighten young minds about the insurance industry, potentially shaping their future careers.
Olutusin emphasized their commitment to promoting insurance penetration and mentioned plans to extend such benefits to university students in the near future.
This philanthropic gesture forms a collaboration between NCRIB Lagos Area Committee and Insurfeel Initiative, aimed at providing free insurance policies to deserving students and individuals, thereby fostering education and safety.
Chuks Udo Okonta, the promoter of Insurfeel Initiative, reiterated that the partnership signifies the advocacy strategy of the initiative, encouraging various organizations and groups, especially within the insurance sector, to embrace similar donation-based initiatives to raise awareness about insurance benefits.
Insurfeel Initiative’s mission is to introduce insurance policies, such as School Care Cover and Uni Personal Accident Cover, to individuals who have limited exposure to insurance, promoting insurance experience to increase penetration, enhance safety, and bolster the industry’s growth.
