To many people, buying life insurance is something you do when you are older. But that is a myth and could not be farther from the truth! Regardless of your position in life, nobody knows what the future holds. Everyday, people pass away and the devastating consequences which this leaves on the family is enough strain to add the worry of the survival of those left behind. The case is made truer if the person who dies is the breadwinner, and has dependents in the form of children, spouse or siblings. Here are reasons why you need a life insurance policy. Look after those left behind A life insurance policy helps you to secure the future of those who would be left behind after your demise. Nobody prays to die, but with that occurrence, you do not want to let them down totally. From replacing lost income to payment of the children’s education, taking out a life insurance ensures that everyone gets the much-needed security to pull through the loss. ...Read more

Life insurance is easily misunderstood yet; it is such an important part of personal finance. Not a few would rather avoid talking about having a life insurance especially since it brings up the topic of their own death. However, if you have the right information, it is something that your household would benefit from. In this article, we would go over the top 8 things you should know about life insurance If people depend on you, you need life insurance From spouses to dependent children, people who depend on you financially should not have to suffer financially if you were suddenly to be no more. The death of a loved one can cause a lot of expenses to be incurred. These expenses were unforeseen and money may not have been left out to take care of them. Also, after spending so much on the death of a loved one, they need to carry on with their lives, and they can hardly do this if nothing has been specially left for them. However, if you are much older ...Read more

On January 15th, 2020, the World Finance Magazine announced the winners of its 2019 World Finance Global Insurance Award. The spotlighted insurance firms according to the magazine are transforming the global insurance sector, with their use of technology and their desire to have a relationship with their customers; one that would be long-lasting. FBNInsurance, once again claimed the World Finance Global Insurance Award as the Best Life Insurance Company in Nigeria. This 2019 win would make the fourth time that the company would be claiming this award as they were given the same award in 2014, 2016 and 2017. The Managing Director/CEO of FBNInsurance, Mr. Val Ojumah expressed his satisfaction at the win, attributing the accolade to the company’s continuous commitment to customer satisfaction, and investment in customer-centric technology, aimed at meeting their customers’ needs. “We are happy to have won this award yet again. We wil...Read more

The 2018 Most Profitable Life Insurance Company in Nigeria, FBNInsurance Limited, has presented its 2019 audited Annual Report to stakeholders at the company’s Annual General Meeting (AGM) held in Lagos recently. Speaking at the AGM, the Managing Director/Chief Executive Officer, FBNInsurance Limited, Val Ojumah, stated that the company closed the year with positive results and also made prompt claims payment to customers. Reviewing the year, Val Ojumah said “We grew Gross Premium Written (GPW) by 45% to N37.63bn in 2019 from N25.98bn in 2018; while Profit Before Tax (PBT) appreciated by 28% from N6.13bn in 2018 to N7.82bn in 2019.” The performance, he said, was driven by the company’s sustained growth and continuous penetration into the retail segment of the industry. “Over the same period, as a responsive and reliable insurer that keeps to its words, we promptly paid claims to our clients to the tune of N9.92bn which...Read more

FBNInsurance Limited, has released its financial report for the year ended 31 December 2018 as approved by the industry regulator, National Insurance Commission (NAICOM). Figures obtained from the published financial statements showed a general growth across various measurement indices. The company’s profit before tax (PBT) grew by 44% from N4.26 billion in 2017 to N6.13 billion in 2018; while the gross premium written (GPW) grew from N19.6 billion in 2017 to N26.0 billion in 2018, accounting for a 33% increase. While commenting on the financial statement, Val Ojumah, Managing Director/Chief Executive Officer, FBNInsurance, attributed the performance of the company to their resilience in achieving the strategic aspiration of becoming the most profitable life insurance company in Nigeria. “The 2018 result has not only moved us several steps towards this goal, it has also raised the bar for our performance in 2019. Given our track record ...Read more

FBNInsurance Limited, one of the leading life insurance companies in Nigeria, has presented its annual report to shareholders at the company’s Annual General Meeting (AGM) which held in Lagos recently. Addressing the members of the press, the Managing Director/Chief Executive Officer, FBNInsurance Limited, Val Ojumah, stated that the company closed the year with positive results and also made prompt claims payments to customers despite the unpredictable economic situation in the country occasioned by preparation for the just concluded general election. Reviewing the year, Val Ojumah stated “we grew Gross Premium Written (GPW) by 33% to N26.0bn in 2018 from N19.6bn in 2017; while Profit Before Tax (PBT) appreciated by 44% from N4.2bn in 2017 to N6.13bn in 2018. The performance, he said, was driven by the company’s sustained growth and penetration into the retail segment of the industry. “Over the same period, as a responsive ...Read more

FBNInsurance Limited, one of the leading life insurance companies in Nigeria, has paid out N5.4bn claims settlements to its clients at the end of the third quarter of 2019. Making the disclosure in Lagos, The Managing Director/ Chief Executive Officer of FBNInsurance Limited, Mr. Val Ojumah said that the focus of the company is to maintain the indisputable leadership position in the life insurance sub-sector by paying claims promptly and at the same time protect the interest of its various corporate and individual clients. According to Mr. Ojumah, “Ours is a business of trust and as part of our efforts geared towards maintaining irrefutable leadership in the life insurance sub-sector, we have built a solid foundation where our clients can insure their trust by promptly paying their claims. We have also deepened our footprints across Nigeria in our quest to serving our customers and shareholders even better than we have done in ...Read more

All You Need To Know About Getting An Education Insurance In Nigeria When Mr. Adio who earns N250,000.00 per month attended University, the cost of fees was just N10,000 per year. He did not even have to worry about accommodation because it was free, after all, this was a Federal University. Today, Mr. Adio’s child, Tobi is 10 years old, and the same university he attended costs N55,000 per year now. Accommodation is scarce on campus and students have to get off-campus hostels which cost between N450,000 and N500,000 per year. Not to mention that there is still pending cost of feeding a child in a school which is roughly N30,000 naira per month. Tobi has also taken an interest in pilots and planes, and he says he wants to be an aeronautical engineer. To study this course in the future, Tobi would have to go to the US or Canada or consider studying at the only school taking this course in Nigeria – a private university. The cost of all these woul...Read more