Editorial
Insurance In Nigeria 2023 (Importance, Types and Benefits)

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

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.
Editorial
2023: Comedian Dirisu Isah Support Markets Women In Okene With Tokens

Comedian Dirisu Isah Who Owns A Group Called TAO STANDARD Recently Mobilized Market Women in Kogi State with cash tokens to boost their business.
TAO Standard Is a Campaign Group for Hon. Tijani Ahmed Ozigis who’s contesting for the Okene/Ogori Federal Constituency In Kogi State.
Read From The Group Spokesperson:
I have come to understand that politicians have a lot of responsibilities, helping them from your end will reduce their workloads.
A few days ago I made an endorsement post for Hon Ozigis Ahmed (TAO) vying for the position of House of Representatives Okene/Ogori mangongo constituency.
Being lot more than just a social media post I took a step forward to motivate and support our businesswomen with some little token as a show of love to our women and society.
I was delighted to see happy faces as feedback from our beneficiaries, indeed it’s a sign of victory
Congratulations Hon Tao and the family, I see the light at the end of the tunnel
Those who know me closely can affirm that I’m not a rich man but there is more to empty barrel aside noise-making, it’s just in the mind👌
Next project:
Operation feed the poor
(Across the five (5) local government Area)
Tao Standard 2023
Editorial
STOP MALIGNING OTHERS TO GAIN INEXPENSIVE ATTENTION HON. AHMAD TIJANI ADVICES OTHER POLITICAL ASPIRANTS

Our attention has just been drawn to a false Accusation, weak information and hash defamation of character of an innocent man, that the loyalist of TAO went to take down one Ozomata campaign billboard by “TAO thugs ”
First of all we can assure everyone that Hon. Ahmed Tijani has no affiliation with the perpetrators in any way or have connections, links with thugs, we therefore debunk the lies, it’s just a disinformation and deceit in order to slander our candidacy.
We should try to do our investigations well before accusing anybody, Hon. Ahmed Tijani ozigi is an upright man humble to the core and respect everybody regardless of your age, social economic status, tribe, religion or clan progeny, he loves everybody and see people as one.
His excellency Gov. Yahaya Bello has nurtured so many young leaders across kogi state through his noble wisdom and inestimable intellect I am proud and honored to tell you that Hon. Ahmed Tijani is of the benefactors. As we know GYB is a no nonsense man he has never for once taught his young disciples how to be hostile towards another. For who GYB is to our mandate he will not indulge anyone to destroy billboard that carries the image of his mentor,never.
Remember, this same incident happened to TAO sometimes ago where his billboard were destroyed by an unknown thugs, we never accused anybody even though we knew who the perpetrators were, we kept quiet because we know God has a purpose for our mandate.
The leading APC candidate of Okene/Ogori magongo house of representative, Hon. Ahmed Tijani Ozigis in reacting to the libel accusations said he is not aware of anybody destroying other counterparts rather he believes politics is a plan democratic arena where everybody is allowed to showcase what they have to offer for the people they want to represent.
I have always been an advocate of peace and good ambassador of togetherness, I wouldn’t want to indulge in anything evil as God bear me witness. I also challenge the ozomata group to provide evidence that shows TAO loyalist is involved in all of heinous act, that way, we can jointly put an end to this at once. In his conclusion, he said APC is one huge progressive family and I love all my party members.
He also advise other aspirants that they should not because of cheap familiarity/acquaintance with people and you malign others. What Hon. Ahmed Tijani has built is strong and we dont think any of his loyalist would be a threat to that. We have challenge you to provide evidence and we are waiting for that.
God bless the good people of Okene/Ogori magongo federal constituency and may the peaceful coexistence amongst us never fade away because of deceit and misinformation.
Signed: TAO MEDIA CREW
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