Niger Insurance woo schools with insurance cover for student

Looking at education at the greatest asset parents could bequeath to their children, Niger Insurance plc has designed a product called Niger Group Education Policy, targeted at guaranteeing the continuous education of children in their school of choice, and should their parents die or become permanently incapacitated.

Kola Adedeji, managing director, Niger Insurance plc said as part of the Company’s initiative at trying to close consumer gap and provide social needs that take care of the populace, the insurance firm came up came up with the insurance policy to ensure that the desire of any parent to give qualitative education to their children does not end up a mere dream.

Bearing in mind that qualitative education is expensive and can only be possible when the sponsoring parents are alive and physically able; he added that Niger had to devise a means to facilitate this.

While either the school authority or the Parents Teachers’ Association (PTA) is expected to arrange this insurance policy on behalf of their students, Adedeji informed that all the parties concerned including the school authority, parents or guardians of the students and the students themselves will benefit under the insurance policy.

The school authority who will be responsible for the management of the policy, he noted, are availed the opportunity to use the insurance policy as advertisement to their school, as parents will be willing to patronize a school that offers opportunity for continuation of the children’s education in the event of the worse happening.

For the parents whose life the assurance depends, he said while they are responsible for payment of premium, the policy guarantees them the peace of mind that their children’s education will not be abruptly terminated should the unexpected happens.

The Niger Insurance boss added that the students are equally benefitting from the insurance policy as it guarantees the completion of their education if the sponsoring parent dies or becomes incapacitated while the insurance contract is in force.

Adedeji further explained that the policy provides sum assured which covers the school fees, cost of uniform, cost of textbooks, transportation and examination fees. The sum assured is payable from the next term after the death of the sponsoring parent up to the last term for completion of the applicable level of education in the assured school.

The Niger Insurance boss therefore encouraged parents to advise management of their children’s schools to embrace this insurance policy taking into consideration the fact that the policy is beneficial to all concerned.