Over N300m group life insurance claims were paid to beneficiaries of dead police officers in 2017

A Nigerian policeman stands guard as All Progressives Congress (APC) party supporters march towards the Independent National Electoral Commission Office in Port Harcourt during a demonstration calling for the cancellation of the presidential election in the Rivers State on March 29, 2015. Thousands of supporters of Nigeria's main opposition party demonstrated in the southern state of Rivers, calling for the cancellation of elections locally because of alleged irregularities. AFP PHOTO / FLORIAN PLAUCHEUR (Photo by FLORIAN PLAUCHEUR / AFP)

A total of N319.8 million group life claims were paid in 2017 to beneficiaries of Nigeria Police officers who died in service in the period under review. File: Police officers

According to the 2017 Nigerian insurance industry digest released by the Nigerian Insurers Association, NIA, last week, the amount was paid by three life insurers namely, Custodian Life Assurance Limited; Mutual Benefits Assurance Life Company Limited and FBN Insurance Limited.

Custodian Life paid N146.2 million; Mutual Benefits Life also paid N146.2 million while FBN Life paid N27.4 million as group life claims in 2017.

Speaking on the development, Director-General of NIA, Mrs. Yetunde Ilori, said that the insurance industry pays claims promptly and urged the public to take advantage of conflict resolution bodies set up by the industry to resolve all unpaid claims issues.

“The NIA in a bid to ensure the public are not denied claims, set up a complaints bureau, the National Insurance Commission (NAICOM) also has a bureau for settlement of claims disputes.

We therefore urge the general public to take advantage of the bureaus to settle any controversial claims.”

Also speaking, Chairman, Sub Committee on Publicity and Communication, Insurers’ Committee, Mr. Oye Hassan-Odukale, said that insurance operators have pledged to leverage settlement of genuine claims to drive the industry’s rebranding initiative.

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Joseph Afam (Local Contents and Partnership Editor) (070 3949 0464) Joseph Afam is a energy and finance journalist, who has years of experience in journalism, he started his journalism career in Nigeria’s top financial newspaper in Lagos. He’s a graduate of Economics and Finance from University of Ebonyi State, Nigeria He has won series of awards and regconitions Contact him for any editorial deals and advertorial issues on # Joseph.Afam@naija247news.com, editor@naija247news.com, Cell: 070 3949 0464

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