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Insurance In Nigeria 2023 (Importance, Types and Benefits)

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Types of Health Insurance In Nigeria 2022

Insurance : Importance, Types and Benefits In Nigeria 2023

In Nigeria The life and property of an individual/citizen are surrounded by the risk of death, disability or destruction. These risks may result in financial losses. Insurance is a prudent way to transfer such risks to an insurance company in Nigeria.

What is Insurance In Nigeria?

Insurance In Nigeria is a legal agreement between two parties i.e. the insurance company (insurer) and the individual (insured). In this, the insurance company in Nigeria promises to make good the losses of the insured on happening of the insured contingency. The contingency is the event which causes a loss. It can be the death of the policyholder or damage/destruction of the property.

Insurance : Importance, Types and Benefits In Nigeria 2022

Insurance : Importance, Types and Benefits In Nigeria 2023

It’s called a contingency in Nigeria because there’s an uncertainty regarding happening of the event. The insured pays a premium in return for the promise made by the insurer.

Insurance In Nigeria 2023 (Importance, Types and Benefits)

How does insurance work In Nigeria?

The insurer in Nigeria and the insured get a legal contract for the insurance, which is called the insurance policy. The insurance policy has details about the conditions and circumstances under which the insurance company in Nigeria will pay out the insurance amount to either the insured person or the nominees. Insurance in Nigeria is a way of protecting yourself and your family from a financial loss.
Insurance In Nigeria 2023 (Importance, Types and Benefits)
Generally in Nigeria States the premium for a big insurance cover is much lesser in terms of money paid. The insurance company in each states takes this risk of providing a high cover for a small premium because very few insured people actually end up claiming the insurance. This is why you get insurance for a big amount at a low price.
Insurance In Nigeria 2023 (Importance, Types and Benefits)
Any individual or company in Nigeria can seek insurance from an insurance company, but the decision to provide insurance is at the discretion of the insurance company in Nigeria.

The Nigerian insurance company will evaluate the claim application to make a decision. Generally, insurance companies in nigerian refuse to provide insurance to high-risk applicants.

What are the types of insurance available in Nigeria?

Insurance in Nigeria can be broadly divided into three categories:

Life Insurance In Nigeria 2023

As the name suggests, life insurance in Nigeria is insurance on your life. You buy life insurance in Nigeria despite all the security challenges to make sure your dependents are financially secured in the event of your untimely demise. Life insurance in Nigeria is particularly important if you are the sole breadwinner for your family or if your family is heavily reliant on your income. Under life insurance In Nigeria, the policyholder’s family is financially compensated in case the policyholder expires during the term of the policy.

Health Insurance In Nigeria 2023

Health insurance in Nigeria is bought to cover medical costs for expensive treatments. Different types of health insurance in Nigeria policies cover an array of diseases and ailments. You can buy a generic health insurance in Nigeria policy as well as policies for specific diseases. The premium paid towards a health insurance policy in nigeria usually covers treatment, hospitalization and medication costs.

Car Insurance In Nigeria 2023

In Nigeria Today, a car insurance is an important policy for every car owner. This insurance in Nigeria protects you against any untoward incident like accidents. Some policies also compensate for damages to your car during natural calamities like floods or earthquakes. It also covers third-party liability where you have to pay damages to other vehicle owners in Nigeria.

Education Insurance In Nigeria 2023

The child education insurance in Nigeria is akin to a life Nigerian insurance policy which has been specially designed as a saving tool. An education insurance in Nigeria can be a great way to provide a lump sum amount of money when your child reaches the age for higher education and gains entry into college (18 years and above). This fund can then be used to pay for your child’s higher education expenses in any universities.

Under this Nigerian insurance, the child is the life assured or the recipient of the funds, while the parent/legal guardian is the owner of the policy. You can estimate the amount of money that will go into funding your children’s higher education using Education Planning Calculator In Nigeria.

Home Insurance In Nigeria 2023

We all dreaming of owning our own homes in Nigeria. Home insurance in Nigeria can help with covering loss or damage caused to your home due to accidents like fire and other natural calamities or perils. Home insurance in Nigeria covers other instances like lightning, earthquakes etc.

What are the tax benefits on insurance in Nigeria 2023?

Apart from the safety and security benefits of buying insurance in Nigeria, there are also the income tax benefits that you can avail in Nigeria.

Insurance In Nigeria 2023 (Importance, Types and Benefits)

  • Life insurance in Nigeria premium of up to 50 million Naira can be claimed as a tax-saving deduction under Section Of Nigerian Law
  • Medical insurance premium of up to 10 Million Naira For yourself and your family and 20 Million Naira for your parents can be claimed as a tax-saving deduction under Section Of Nigerian Law

Be it life insurance in Nigeria, health insurance in Nigeria or general insurance in Nigeria, you can buy an insurance policy in Nigeria offline as well as online. Just like there are insurance agents in Nigeria who will help you buy a policy, there are websites as well that you can buy a policy from. Ensure that you have done your research before choosing and investing in an insurance policy.

 

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Editorial

The Weighty Sins Of Dr. Saka Haruna And How He Looted Over 2 Billion Naira

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The Weighty Sins Of Dr. Saka Haruna, The Charlatan Who Finds His Way as Kogi State Commissioner of Health, Stole About Half A Billion Naira.

The Dismissed swindler, Covetous, hardhearted and Quack who got his way to become the Kogi State Commissioner for Health is seen presently to have recruited social media miscreants to shelter up his plundering and thus deserves to be handed over with his vision-less defenders to the Regulatory Agency for rigorous investigation.

His Excellency, the Executive Governor of Kogi State, Alh. Yahaya Bello is a compensator of loyalty, and excellence. His steps to have dismissed the erstwhile commissioner is the best decision ever, however, the succeeding step probable is handing over the criminal to the required authority to cough the ginormous dosh he has swallowed.
Check as cataloged below:

1a) His unprofessionalism is bringing down a complete facility that is serving an entire LGA and beyond. The demolished hospital stands in a vast land space which instead of erecting a new one, he unprofessionally and mischievously deprived the people of Ajaokuta Constituency of accessible health facilities but diverted the fund released by Governor Bello to erect a standard Hospital for himself in Kano.

b) There was an upheaval in the locality, however in an attempt to convince the Governor, he told him that the project is 90% revived but in reality the project is actually 5% in progress.

c.) As part of Saka’s illusory methods, he assembled the traditional rulers and basked them that the fund required for the project to be completed is just a million naira. All his calculated illusive efforts to stop the community from lamenting later attracted serious hatred for Governor Bello’s Administration scoring 0% achievement in health sector of Ajaokuta local government.

2) When Saka was dismissed, he ran to the Chief of Staff to the Governor for help, but the clever Asuku recapped Saka of his greed and how he obliterated his struggle in appointing an Ajaokuta Son, Pharmacist Itopa as an Executive Secretary for Kogi State Drugs and Equipment Board base on merit. Chief Asuku declined to identify with an avaricious criminal which Governor Bello will soon deal with.

3) Investigation has also shown that Saka was the brain behind the vandalization that happened sometims ago where sophisticated medical equipment ordered from oversea to Specialist Hospital were carted away from the Kogi state medical warehouse. Majority of those equipment moved away were only a calculated looting mechanisms for Saka to transfer those equipment to Saka’s Newly Built Hospital in Kano.

4) Ajaokuta constituents and people that know the cheekiness of Saka are celebrating his dismissal because they know how repulsive he is. Saka is said to have the longest, broadest and sophisticated gate in his residence. The Governor was earlier informed about his resistance to receive people but gate them under scorching sun without open door policy that the new direction preaches.

The looted fund from the state Government by Saka Haruna is estimated to be N423,377,209.38k for just the Ajaokuta axis. Total estimate of 2billion and above is researched to have been looted in the last 6 years under the supervision of the commissioner for health viz-a-viz other international health funding and state counterpart funding.

Recalled that, Saka Audu took to facebook some months ago where he was castigating the commissioner for works and Housing, Eng. Abubakar Ohere for being a barrier to him for his looting convention. The guess is correct to say, that was when Eng. Ohere knew Saka and he gave him a close marking. Not saying Ohere is a saint still.

In an interview with the Executive Governor of Kogi State, he was asked where he got the money he used in erecting the Hospital in Kano, but Saka only resulted to crying foul as usual. What a character!

It is heartbreaking that Governor Bello’s effort in in health in Ajaokuta Constituency is zilch where Saka is even a citizen. The world standard Reference Hospital is situated in Okene which has a branchy in Anyigba, Gegu and Ajaokuta. Attach picture are evident of the progress of the projects in other local Governments in comparison to that of the mere 40% of Ajaokuta LGA.

#GYB2PYB is possible through viable projects. Before I end this, more office holders to still go down. This is no longer first tenure where all misdoings are overlooked. All criminals must go home.

Dr. Tosin Jide’s CCTV is an MTN, stay glued to this Channel for More revelation.

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Editorial

KOGI WEST SENATE: IS MINISTER RAMATU CONTESTING?

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By:
Farouk Ozigi Onimisi

1. In recent days, calls have been coming my way and some Team Ramatu Members as we receive congratulations and well wishes over a speculated Senate Mission by our Amazon, the Onyize of Ebiraland and Honourable Minister of State, Federal Capital Territory, Hajia Ramatu Tijjani Aliyu (Ph.D).

2. While it is very satisfactory to think of the White Princess worthy of this Kogi West Senate, it is rather unfortunate those in the inner circle of the Honourable Minister are not yet aware of this decision.

3. To start with, the Honourable Minister of State, FCT, Hajia Ramatu Tijjani Aliyu (Ph.D) was appointed to serve as Honourable Minister in the Next Level Mandate of President Muhammadu Buhari on 21st August, 2019. This appointment is barely 2 Years, 8 months.

4. It is one thing to aspire to lead the good people of Kogi West in the Red Chambers but has Dauuduu Ramatu fulfilled the mandate and trust President Muhammadu Buhari reposed on her?

5. Personally, I am aware of her numerous valueable contributions in the development of Federal Capital Territory Administration. Within these few years, she has, in collaboration with the Principal Minister, brought relevance to the up to date running of the FCT.

6. The doctrine of popular sovereignty brought into Nigerian politics by the White Princess Ramatu denies the justice of a society ordered by inherited rank. It proclaims there is no class which possesses a natural right to rule over other, supposedly inferior classes. Put succinctly, Ramatu believes on the equality of all, justifying properly, the principle of equality in the Nigerian Constitution.

7. To Hajia Ramatu, loyalty of 99.9% is not a loyalty. Hence, she always strive in upholding the virtuous recognition shown to her by President Muhammadu Buhari and it would be disloyal for PMB reading these speculations on social and visual prints when his daughter whom he is so pleased with has not consulted him on the said Senatorial Ambition. No matter the level of your achievements, no one outclasses his or her Masters. For PMB and RTA, it is father and daughter.

8. Where are the speculations emanating from sincerely? Wait a minute, is it based on the numerous support the White Princess Ramatu has shown Kogites? Oh, how sympathising Nigerians could be. What the Honourable Minister has/will continue to do is evident of her satisfying characteristics and showing the humanity in her. It was never for any ambition.

9. I remembered vividly some times ago on our Team Ramatu National Platform when someone out of sincerity displayed some flyers of the White Princess to run for the Senate. She immediately responded: “who is contesting, bring the flyers down, please?”

10. Several meetings have also been held by those who recognised her service to humanity but she persistently said she was not extending her hands for anything in return. Like a liberator, she knew the segmented neutrophils that have affected the social being of her people and she was just being humane with her purposeful style of leadership.

11. We are rather surprised if our mother has overturned what she has long seen as unnecessary at the moment. While we also anticipate into her future endeavours, I am pleased to inform the general public that the incumbent Honourable Minister of State, Federal Capital Territory, Hajia Ramatu Tijjani Aliyu (Ph.D), is not aspiring for Kogi West Senate. If it thus becomes necessary, she will make her official declaration like others have done across the nation.

12. Thus, it is necessary to continue standing by the President Muhammadu Buhari-led administration as they continue to defend the constitution of the Federal Republic of Nigeria. While we appreciate Nigerians finding Dauuduu Ramatu of elective position, it is necessary, nevertheless to rather looked into what one can do without being in any elective position as so far displayed in her sincerity of purpose.

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FUL Alumni Association warmly celebrates the 3rd Registrar of the institution, charged her to be selfless and welcoming

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The Federal University Lokoja Alumni Association ably led by her National President, Hon. (Comr.) M.S Yusuf paid a congratulatory visit to the 3rd Registrar of the institution on her appointment.

The visit which took place at the permanent site in Felele campus, was aimed at celebrating the Registrar’s intellectual prowess which she displayed during the rigorously screening process conducted by the governing council, that later culminated into her appointment as the 3rd Registrar of the young and promising institution.

The President in his words said “the Alumni Association is happy to have you here as Registrar and it is our hope and wish that you will inject your wealth of experience into the overall development of this institution”. He also solicit the Registrar to operate an open door policy as the Association’s letters will continue to dose into her office, while stating that the Association and Management are partners in progress for the overall development of the institution.

Comr. Yusuf further intimate the Registrar of her forthcoming Alumni Week which is scheduled for the 6th and 7th of May 2022 which will also usher in new Executives, while soliciting her support especially as the Association commenced the building of her National Secretariat at Felele Campus.

Mr M.S Yusuf also commend the workaholic VC for his relentless efforts in doing what is best for the university. Especially the recent School of Health Sciences among other policy agendas. He added that it is a known fact that Professor Akinwumi penchant for excellence negates the activities of the moles. He urged the VC and the management to remain focused and not to be distracted.

The Registrar in person of Mrs. Rebecca Aimiohu Okojie while responding appreciated the Alumni Executives for their visit, while assuring them that she won’t let them down, stating that she is here to contribute he quota to the institution development, and the Alumni is a veritable tool for such contribution.

In her words “most world class Institutions you see or hear about today are so because of the fact that their Alumni are given back to their institutions.

You all must be able to encourage your members not to neglect their alma mater, and that the only way they can be proud of their performance outside is to always regard where they are coming from she said.

While giving the closing remark, the Chairman of the Association Board of Trustees in person of Comr. Ochedi Udale Shuaibu appreciated the Registrar for the audience and further solicited that she use her good office to influence employment for a good numbers of the Alumni who graduated with good grades and are yet to be absorbed into the University so as to consolidate on the mission and Vision statement of the University.

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