The Memorial Benefit Plan 180

With the Memorial Benefit Plan 180, you simply choose the duration of your cover which could also be either the Single or Family cover option.

Single Cover option: Only the policyholder will be covered under this option.

Family Cover option:The policyholder and selected family members (maximum of 5) will be covered under this option.

Upon the demise of the policyholder within the duration of the policy, the named beneficiary will be paid the defined sum assured and any other optional benefits stated at the inception of the policy. This amount(s) will help to defray the funeral expenses.

In the event of the demise of one or more of the nominees, the policyholder will receive the respective benefits of those individuals. This will help to defray the costs incurred by the policyholder in giving the deceased nominees a befitting funeral.

The features of the Memorial Benefit Plan 180 are listed in the table below:

Entry Age

• Single: Any individual between the ages of 18 and 55 at next birthday.
• Family: Any individual between the ages of 18 and  55 at next birthday and maximum age of 70 for additional persons to be covered.

Lives Covered:

These are stated based on the preferred plan:

• Single - Policyholder only
• Family- Policyholder and a maximum of 5 additional persons (spouses, parents and parents in-law)

Policy Term:

• Single: Minimum tenor of 5 years, Policy ceases on 71st birthday or expiration of policy term whichever is earlier.
• Family: Minimum tenor of 5 years,

Benefit Sum

• You can choose from either N250, 000, N500,000, N1,000,000 or N2, 000,000:00

Waiting Period

• 6 months for benefitsof  N250,000, N500,000or N1million
• 12 months for benefit of N2,000,000
• 12 months for age 56 and above next birthday at inception.

Premium Payment

• Premium is based on selected term, age and proposed level of benefit. It is payable for the duration of the policy. Premium payment ceases on earlier death of the policyholder.