Family Benefit Plan
Family Benefit Plan and Family Benefit Plan Plus, are Leadway’s Funeral Insurance Cover Plans. They have been designed to address any unforeseen financial worries in the event of the loss of an insured life or death of the policyholder. They provide funeral insurance cushion which can be extended to your spouse, parents and/or parents-in-law.
- The policyholder decides on the level of funeral benefits he/she wants.
- The Family Benefit Plan (FBP) pays benefit only on the first death on the policy, the death of one of the lives insured terminates the policy. The Family Benefit Plan Plus (FBPP) pays benefit on death of each of the lives insured subject to the policyholder being alive, the policy ceases upon the death of the policyholder.
- Premiums are affordable.
- The Family Benefit Plan (FBP) pays benefit only upon the first death of the insured lives, while the Family Benefit Plan Plus (FBPP) pays benefit for deaths of all the lives insured up to the death of the policyholder.
- Benefits are free of tax and the premium paid can be used to claim tax relief on premiums paid.
LEVEL OF BENEFITS:
- For FBP, the chosen Funeral Benefit Amount (sum assured) is same for all the lives assured. The policyholder has the choice to select 3 levels of benefits:
- Bronze: with ₦300,000.00 as Sum Insured
- Silver: with ₦500,000.00 as Sum Insured
- Gold: with ₦1,000,000.00 as Sum Insured
- For FBPP, there is a flexible level of cover of up to ₦20 million.
OTHER FREE BENEFITS
- Grocery benefit of ₦ 25,000.00
- Family support of ₦ 20,000.00 monthly installments for six months (Only upon the death of the policyholder).
Please click on Family Benefit Plan and Family Benefit Plan Plus to download the policy brochure to know the features, benefits and see some FAQs relating to this product to ensure it fully meets your requirement.
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