Etisalat, FBN Insurance Launch Sure4Life

MAY 06,2014.

FBN Insurance Limited and Etisalat have introduced ‘Sure4Life”, an airtime-based insurance product designed to increase penetration and consumer access to affordable insurance products via the mobile phone.

Director, Business Segment at Etisalat Nigeria, Lucas Dada, who spoke at the launch, said the product will help drive availability and access to agood number of  uninsured Nigerians.

In addition, it will provide Etisalat customers with one month free life insurance cover between May and July, this year, he said.

Dada noted that the partnership would bring inexpensive and easy  reach to insurance products to the benefit of Etisalat’s growing prepaid and post-paid customers.

He said: “Sure4Life is an innovative product which takes away all the challenges that may be associated with taking an insurance policy and allows Etisalat subscribers to access and maintain insurance coverage with ease. It is in line with our reputation as the most innovative telecommunications company to provide such life-changing products to our customers.

“The plan is optional and open to all registered Etisalat subscribers that are between 18 and 80.”

Managing Director and Chief Executive Officer, Val Ojumah  of the underwriting firm said the initiative will help correct the inaccurate perception that insurance is only for the rich and reduce the complexities and paperwork often associated with insurance. The initiative also supports our aspiration to bring the benefits of insurance to Nigerians who otherwise would have remained uninsured.

He explained that with a monthly insurance premium of N100 monthly, registered Etisalat subscribers will have the benefit of a flat of N100, 000 payable to the beneficiary in case of death of the policy holder and a maximum of N10, 000 for medical expenses in the event of an accident.

Death benefit per life shall be limited to N200, 000, maximum of two Etisalat registered numbers, whereas the medical expenses benefit per any one life shall be limited to N20, 000, maximum of two Etisalat registered numbers, he said.