I was reading Businesday this morning, 13/5/2013 , (page 19 This is Money column) and came across this Insurance plan (First Life Benefit Plan) offered by FBN Life Assurance that cost just N45 a month. According to the plan if you pay a recurring insurance premium of N45 a month you get a death benefit of N100,000. The product is for those below the age of 65yrs. Another one I found more interesting was when you pay an Insurance Premium of just N1,040 you get death benefit of N250,000, Burial Benefit of N100,000 and healthcare worth about N100,000.
We all know, some of these policies come with policies as I expect employees whose line of work are more hazardous to probably get a higher premium than talked about. I checked the website of FBN Life Assurance and did not see this plan mentioned let alone detailed on their website. In fact this is what I saw;
So let’s just assume they are yet to update the product on their website, which I thought was poor. Nevertheless, this sounds like a good product and should be explored. Are you aware of any other great life insurance products?