By Providence Emmanuel
Wapic Insurance Plc has unveiled five different solutions to address critical customers’ need which adequately addresses risk concerns ensuring policyholders remain a step ahead.
The products are classified under Wapic Smart Investment-linked Products and designed to cater for the protection and goal oriented needs of individuals, families and businesses.
The Wapic Smart Investment-linked products include: the Smart Life plan; Smart Life plan; Smart Scholar plan; Smart Senior plan and Smart Wealth plan. These plans come with the dual appeal of flexibility and convenience, focused mainly on the family, education, retirement, short and medium term plans.
Speaking at a media briefing heralding the Product Launch in Lagos, Managing Director/CEO, Wapic Insurance, Mrs. Yinka Adekoya, said it is difficult to make progress without a plan and goals.
“For us at Wapic, we know that a good insurance plan is key to achieving successful living and so we have developed a variety of insurance solutions to address critical customer needs. We are confident that these products which offer competitive rates, more added benefits and adequately addresses risk concerns would ensure that the policyholder remains a step ahead,” Adekoya said.
In his presentation to highlight the products’ benefits, Managing Director/CEO, Wapic Life Assurance Ltd, Mr. Rantimi Ogunleye, explained that the Wapic Smart Scholars Plan is an insurance solution that provides the opportunity to save funds towards financing a child’s education and offers embedded insurance protection against the risk of demise and permanent disability on the life of either or both parents. It guarantees payment of the school fees whether or not the parents are alive, subject to the limit of a chosen targeted sum.
Ogunleye explained further that the Wapic Smart Seniors Plan provides the opportunity to save funds towards retirement with an embedded insurance cover. He noted that it offers the policy holder highly competitive interest rates, free critical illness benefit, 200 percent of the sum assured as permanent disability benefit and in the event of demise offers the sum assured together with the account balance.
While the Wapic Smart Wealth Plan is an insurance solution that offers an opportunity of investment and embedded insurance protection against the risks of demise and critical illness. “The insurance premium is deducted within the period of investment but insurance covers throughout lifetime even when you have taken the maturity proceed,” he said.