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I know you surely will fall in any of the categories above, but I must say I know your greatest fear which you
probably might not have focused on
If you work hard, try to plan for the best future, try
to provide the best life for your family & kids(If
any). You are the one I’m talking to
You earn little, yet find a way to feed your family
(Sense of living)
You’re averagely okay but clouded with so much
expenses and have no reserve, yet your family
survive
You are classed as successful in this present economy because your
income/investment can cater for now, tomorrow or after you’re no more
You see yourself as poor/useless and have the
fear of not achieving anything
You live for yourself and carless of anything
around. You believe in self survival
You believe you are too young to think of
others. Therefore, you enjoy to be taken care
of by parent
Your greatest fear is Death! (Take it or leave it). I know you might be disgusted right now and not want to read further. This word is definitely what most of us shy from or never wish it comes our way. We know it’s certainty but just don’t know when. If you
still have doubts that this is not your fear. Ask yourself these questions:
If truly your religious believes about eternity, paradise, hell or eternal torment are true, where would you be after death?. If you have answers to this, how sure and positive is your answer? Is it certain or automatic? What will happen to my family after my dismiss? Will my children continue with the kind of education I ever dreamed of? Is my reserves enough to sustain my family them for a life time? How can I increase my financial worth? What will my family say of me when I’m gone Will I say I have lived a fulfilled life?
Nigerians are faced with Natural (Health hazard) and accidental death on a daily bases (Nigeria Death expectancy rate: 48years). Look around you, you’ll find young people die everyday
Nigerian’s are known to be hardworking, loving but most times ignorantly selfish to themselves. In the bid to make ends meet (provide for family and satisfy daily expenses), They forget the real purpose of our existence.
If we agree that the main purpose of our existence is to make a positive impact to our generation and fulfill God’s purpose.
What then happens in the process of achieving all, the eventuality of death occurs?. No one wishes to die, everyone sees death as a bad thing but When bad things happen in life, you are left with three choices. You can either let it define you. Let it destroy you or let it strengthen you
U.S.A 78 years Canada 81 years United Kingdom 80 years Nigeria 48 years
Diabetes Cancer
Accident
Heart Failure
What can I say I’ve achieved when I am no more?
How will my loved ones survive when we I’m not there
How much will my family need for immediate sustenance or
survival? #1million, #10million, #20million etc.?
Whose responsibility is it to provide for the
immediate needs of my family in my
absence?
How much is my financial worth?
How can I increase my financial worth?
What can I do to have a peaceful eternity?
Physical : Get a Pure Life Assurance
• Mutual Term Assurance Policy • Mutual Benefits School Fees Guarantee Scheme • Whole Life (Limited Premium Payment Plan)
Spiritual : Be Dedicated to the rules binding your religion
Know about your religion, study the rights and wrongs of your religion.
Christians: remember that you will be questioned for not taking care of your family (1 Tim 3:5)
Muslims: Some Muslims don’t believe in insurance because they feel it’s a form of gambling. Al-Munajjid advises Muslims about what to do in such a situation: "If you are forced to take out insurance and there is an accident, it is permissible for you to take from the insurance company the same amount as the payments you have made, but you should not take any more than that. If they force you to take it then you should donate it to charity.“
You pay a very small amount (premium e.g #5000) to enjoy a very large cover (#1million) for a year.
Convenient payment options – monthly, quarterly, half yearly and yearly.
Creation of immediate estate upon the inception of the policy for the dependants.
In case the assured lives until the end of the specified term of the policy, the policy expires and no benefit is
payable.
It creates confidence in the mind of the assured to move on with life activities.
Term Assurance is one of the cheapest pure life assurance policy. It is a type of assurance policy
taken within a specific period, maybe 1yr, 2yrs etc. A little amount is paid to cover an
assured/person within a period. If the assured survives the period, the assurance expires and
there is no payment made by the insurance company.
The amount to be paid to purchase the cover is determined by the; Sum Assured, Age of Assured & Duration
Age Premium/ How much to pay
Financial worth/ Sum Assured
20-40 2,500 500,000
41-50 3,750 500,000
51-60 7,500 500,000
Mutual Benefits School Fees Guarantee Scheme is an insurance plan designed to guarantee the continuation of a child’s education in the event of the parents not being there to fund their education as a result of death, critical illness or permanent disability.
It is a renewable contract policy that pays for the school fees of the
child(ren) for the remaining term/semester from the point the
sponsoring parent falls critically ill or suffers a permanent total
disablement or dies.
If death occurs, the policy pays the sum assured to a named (trusted)
beneficiary chosen by you for your children’s education.
Minimum duration is One (1) year
Minimum age at entry is 18 while the maximum age at entry is 60
Benefits required can be adjusted to ensure adequate provision for
the child’s education
Multiple children with varying years of education outstanding can be
covered
The plan does not attract surrender value benefit
Convenient way of funding
Children’s Education
Ensures realization of Children’s
Education
The scheme helps you to cater for
your children’s education even
when you are no longer available
Tax advantages
It guaranteed peace of mind
It is one of the cheapest and
affordable form of insurance
Whole Life Assurance policy is a type of insurance that provides insurance coverage of the contract holder for his/her entire life. In other words, it does not have any form of maturity benefit. It only pays an agreed benefit (The Sum Assured) to the beneficiary of an assured after the assured must have died.
Minimum age at entry is 20 while the maximum age at entry is
60
The duration of this policy usually a function of how long the life
assured lives. That is the duration is a life time.
Premium payment stops at a specific age chosen by the
assured, say 45, 50, 55, 60 or 65.
Note however that the longer the age at which the premium
payment will cease, the cheaper the premium payable.
If after the premium payment has ceased, the assured is still
alive, the policy will be in force until the life assured dies before
the benefit becomes payable to the named beneficiary(ies)
Family protection cover for the entire life Tax advantages It guaranteed peace of mind It is the cheapest and affordable form of insurance If death occurs, the policy pays the sum assured to named beneficiaries chosen by you.
There is no policy loan available under this policy.
This plan does not acquire surrender value
The policy has no maturity date
The premium payable under this type of policy is
determined by the following factors
The Sum Assured selected by the assured
The Date of Birth of the assured, and
The Age at which the Life Assured would like to
stop premium payment