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Allianz Nigeria introduces attractive family protection plan

ALLIANZ Nigeria has launched a new family protection plan to cover funeral costs in the event of the death of an insured loved one.

The company announced this during an event in Lagos on Friday, stating that the product had been approved by the National Insurance Commission.

Unveiling the product, Allianz said, “This new product is the outcome of months of extensive market research into current and prospective customer demands in the local market, especially in the wake of gradual recovery from the global disruption of COVID-19.

“The economic meltdown has highlighted the need for products that lighten the financial burden of middle and low-income families, following tragedy or loss.

“The insurance product will offer protection to the entire family by covering the cost of funeral rites.”

It revealed that burial rites were an important aspect of Nigerian culture for all ethnic groups.

Often, it said, paying the last respect to loved ones that had passed on would impose a heavy financial burden upon the surviving relatives.

“The cover enables the family to give the departed a desired and befitting burial,” it said.

The firm stated that it permitted multiple payouts and the continuation of the policy after the policyholder’s death.

It emphasized that with the insurance, the family may keep paying the premiums and stay covered in the event of a future loss.

“At Allianz Nigeria, we are focused on creating simple intuitive products that solve real problems that are unique to our market,” Patience Ugboajah, Chief Customer Officer, said.

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Naija Times