Wapic Smart Wealth Plan targets to raise financially smart citizens
As part of its vision to ensure that financially smart citizens are raised in the society, Wapic Insurance has introduced yet another ground breaking insurance product under the umbrella of SMART Plan known as the Wapic Smart Wealth Plan.
Speaking at the launch of the product, Oroma Ovunda-Nsirim of the corporate communications unit, Wapic Insurance noted that this is an insurance solution that provides one, the opportunity of investment and embedded insurance protection against the risks of demise. The insurance premium is deducted within the period of investment but insurance cover is for life even when you have taken the maturity proceeds.
Wapic Smart Wealth Plan provides you, in addition, the benefit of an insurance cover for life even when premium is deducted from your contribution only within the investment period.
She further noted that more benefits of the products as: Enjoy life cover beyond duration of the policy, Return on Investment: Flexible but high (linked to FGN Bonds), Critical Illness Benefit: Up to 70 percent of sum assured; balance payable in the event of demise, Life Cover: Payable in the event of demise, Succour in the event of demise, Premiums are tax deductible
When asked about the premiums, the company noted that the premium to be deducted depends on the sum assured chosen and the end date of the policy. For a sum assured of N5 million on a policy ending at age 50 years, the premium could be as cheap as N8,000 per month (320/day), for a person aged 35 years.
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