1.

Will I get my money back?
No. This is in not an investment product. It is a pure Life Policy with critical ailment extensions that pays money back only in the event of death or ailment.

2.

At what interest rate does the money grow?
Comfort 5 is a Life Assurance policy and does not have any fund accumulation.

3.

Can I renew my vehicle policy through you?
Yes, but you need to be transferred to the appropriate department.

4.

I have not received my renewal notice?
Give your name and policy number and a renewal advise will be sent to you. Do you want to consider Direct Debit payment method for renewals?

5.

What happens if my dependant dies before me?
You will be required to name another beneficiary.

6.

What happens if we die together i.e. my dependant dies with me?
If you elect, the benefit goes into your estate.

7.

What is the maximum number of dependants you allow?
As many as you wish, however the total percentage apportioned to all beneficiaries must add up to 100%.

8.

Can I change my dependant?
Yes.

9.

Will death outside Nigeria be covered?
Yes.

10.

Will hospital benefit outside Nigeria be covered?
Yes.

11.

Do I have to inform you before I pay the hospital bill?
No, but once you have paid you need to notify us within two weeks of the payment. Remember this is hospital bill resulting from an accident and refund is limited only up to N50,000.

12.

How long after the accident do I have to inform you?
We expect you to notify us within two weeks of the payment but we realize that there may be exceptional circumstances where this may not be possible.

13.

What is the process of claim for death?
Notification of claim, followed by verification and confirmation of the documentary evidence. Once this is complete, the claim will be settled.

14.

What documentation is required for death claim?
The death certificate, burial papers, photographs of the deceased and other supporting documents. A police report may also b e required if death is by accident or foul means. Please endeavor to inform us prior to burial.

15.

Can I pledge this policy to a bank?
It is not likely that the bank will accept to take the benefits in its current form. We strongly suggest that you take a life policy appropriately suited for the banks needs.

16.

Can my dependents be older than me e.g. my parents?
Yes.

17.

I already have a life policy with Leadway. Can I convert?
Theoretically yes but we will advise you not to.

18.

Does this policy cover plane crash?
Yes, as long as the policyholder was a fare-paying passenger.

19.

How many policies can I buy?
Technically only one will go through without a medical examination. However if you prepared to go for a medical we may increase the benefit and sell.

20.

Can I increase the benefit i.e. I want more than N30, 000 per quarter?
Yes, this is possible however the policy will not be sold to you as Comfort 5. It will be customized to suit your requirements.

21.

Is death or injury as a result of religious riot covered?
Yes.

22.

Where or how does the quarterly installment get paid?
Either by direct credit to the beneficiary’s account or the beneficiary calling at a Leadway branch in person to pick up the cheque.

23.

Can I pay in the premium in installments?
No.

24.

Can I get a discount if there are a lot of us that want to buy the policy?
No. But you can elect to be an agent and get a 10% commission on registration as an agent.

25.

Is there commission if I introduce someone else to you?
Not at the moment but we will look in to this.

26.

Will Leadway be there in 10 years to pay my dependant? What guaranty do I have?
Leadway has been around for the past 30 years and will be for much longer.

27.

Does Leadway have a re-insurance treaty for this?
Yes we do.

28.

What happens between payment and policy acceptance should the policyholder die or become critically ill?
Commencement date of risk cannot predate the letter of acceptance. However we assure you those policies will be processed and accepted within reasonable time.

29.

What allowance have we made for medical examination?
Unless we find that the medical questions answered require further investigation, there will be no need for a medical test.

30.

What happens when a policy is not accepted?
The policyholder is notified along with agents and branches depending on the sales channel. Any premium paid will be refunded.

31.

What happens in towns where houses are not numbered?
We will use a courier service to ensure that documents are delivered. Alternatively documents may be sent to our office in that area for on-delivery.

32.

What happens when policyholder who is critically ill dies?
The benefit paid for critical illness up to date will be deducted from death benefit and the balance on the death benefit paid to the named dependants.

33.

What if a policyholder who is HIV positive does disclose his/her health status?
If we suspect nondisclosure of important health information, we reserve the right to carry out further investigations. If nondisclosure is confirmed, then the cover is not valid.

34.

What is the response time between payment of premium at banks and proposal acceptance?
The response time between payment at banks and policy acceptance is 2 weeks.

35.

Why have we targeted ages 25 – 49 only?
Because we are going to guarantee insurance for 5 years without a medical test so we have set an upper limit for the insurable age under Comfort 5.

36.

What is the term / duration of policies?
5 years.

37.

What happens to a policyholder after age 55?
We reserve the right to ask for a medical test before policy renewal.

38.

Is there a time limit after which policy lapses when renewal comes up and premium has not been paid?
Yes, 30 days.

39.

What do I gain if I do not claim after 5 years?
Nothing. There is no refund/return on Comfort 5 policy, however we are working on incentives to offer to policyholders.

40.

What happens if a person aged 22 who is married with children and care about his / her family’s welfare applies for Comfort 5?
We will sell the policy.

41.

How do we deal with the issue of receipts?
We do not issue receipts; however there is a detachable slip on page 6 of the enrolment form and this is completed and given to the prospect as proof of payment. Individuals who pay at banks receive a copy of the payment teller.

42.

How do I renew my policy?
By remitting the due premium as long as it is within 5 years of acceptance or re-evaluation.

43.

Is there a commission payable on agents on renewal?
No.

44.

If foul play is suspected and it becomes necessary to exhume the dead body, what will happen in parts of Nigeria where this is against religious beliefs?
We reserve the right to exhume a body and carry out a post mortem if foul play is suspected in any part of Nigeria.

45.

The name "COMFORT" is not acceptable in the North, can anything be done about this?
No, there is no cultural connotation attached to this name. It is part of the product’s identity.

46.

What methods of Annuity payments to beneficiaries are there?
The default method is to pay directly into named beneficiary’s account or the beneficiary can call in person to any of our branches to pick up the cheque.

47.

If a named beneficiary is a minor, there may be need for an administrator to be appointed. How do we prevent the delay associated with this, will it still be possible to meet our 5 days target?
We aim to process the claim within the time stated i.e. 5 days however the bottleneck will be with appointment of an administrator.

48.

Why do we need another term assurance policy when Comfort 5 is identical to the one we have?
A medical test is not required for Comfort 5 and the age limit for the other term assurance product is higher.

49.

Will the Comfort 5 policy lapse after a period of time?
It is a term assurance product; hence the insurable term is 5 years after which it is subject to review.

50.

Must there always be insurable interest with Comfort 5?
Yes. You cannot be the beneficiary on someone else’s life unless there is a financial interest in the relationship.

51.

Can the policy be used as a form of security against other investments?
Yes in the sense that Comfort 5 can provide cover for the policyholder and family in the interim whilst other investments mature.

52.

Can a pregnant woman take out a Comfort 5 policy?
Yes.

53.

Is a person with a past medical history (fully recovered) of one of the defined critical illnesses eligible to apply for Comfort 5?
No.

54.

Can the policy not extend above 10 years, taking into cognizance the age barrier?
It could actually extend beyond 10 years as long as the age of the assured does not exceed 54 years at exit. Because it is a 5 year renewable term plan, we are careful not to sign on anyone above 49 years as the premium will be too inadequate to support the risk he/she will be bringing to the pool.

55.

Can the premium of N9,000 be increased as to enjoy a corresponding benefit?
We are still looking at the possibility of this, though it negates the original concept, besides   the plan is non-medical and instead of charging extra premium for waiving medical we allow group discount.

56.

While death occurs only once, if the assured is involved in several accidents within a year will he be covered?
He will be covered up to the medical limit of N50,000

57.

If you can pay N17,000 for two years, what will you pay if you intend to pay for as much as  5 years?
This was not contemplated at the design stage, but in view of the clients’ request we may compute a single premium rate for the 5-year term.