AIICO Insurance plc has introduced two new products namely; AIICO Moneywise Term Assurance and AIICO Travel Insurance for the purpose of ensuring its customers’ needs are constantly met and satisfied.
The Head, Technical, Retail Business Division of the underwriting firm, Titilola Okunlola, opined that, the Moneywise Term Assurance, is a life insurance product with the cover that guarantees 100 per cent cash back to policyholders when policy elapses without claims.
Okunola noted that the moneywise term assurance provides customers with a win-win situation, financial protection for an insured loved one within the duration of the policy, if life happens or full refund of premiums should the policyholder survive the period.
The features and benefits of the product were stated they include; guaranteed payment of the sum assured; flexible policy tenure between 5 to 20 years; affordable premium, cover amount is determined by policyholder, convenient premium payment options such as; monthly, quarterly, semi-annual, annual or single premium payment and premium payments certificates can be used for tax relief, among other benefits.
Commenting on the other product, the company’s Head, Corporate and Institutional Business, Adewale Kadri, said that, the AIICO’s Travel Insurance is one that covers both local and international trips.
Kadri further said that, “In this season of summer holidays, we will like to inform the public of AIICO’s World Travel Insurance, whose cover include loss or theft of baggage, emergency medical expenses, medical evacuation, repatriation or transport to medical center expenses and follow up treatment in Nigeria and lots more.”
He concluded by saying that, On AIICO’s Domestic Air Travel Insurance, the policy, which was recently approved by the National Insurance Commission (NAICOM), is basically for the personal benefits of the air passengers entitling them to compensation for death, permanent disability, medical expenses consequent on accident, flight cancellations and baggage loss or delay as defined by the policy.