Stanbic IBTC Insurance Launches Comprehensive Funeral Expenses Cover

Nume Ekeghe

Stanbic IBTC Insurance Limited, has unveiled its latest insurance product, the Sunset Benefit Plan, to help customers celebrate a life well spent and provide comprehensive funeral expenses coverage and financial security during bereavement or loss of their loved ones.

In a statement, the Chief Executive, Stanbic IBTC Insurance Limited, Akinjide Orimolade, expressed his excitement about the Sunset Benefit Plan, emphasising its importance in financial planning.

He stated, “Having a comprehensive funeral expenses cover is a crucial part of financial planning as it ensures that you are not caught unprepared when the unexpected happens. With The Sunset Benefit Plan, we are thrilled to introduce an insurance product that eases the burden of funeral expenses with the passing of a loved one. With this plan’s flexibility and customisation options, individuals can tailor their coverage to match their unique financial situations.”

Executive Director, Business Development at Stanbic IBTC Insurance Limited, Titi Ogungbesan, highlighted the various additional benefits for policyholders. These additional benefits include cover for interment, grocery, catering, childcare, and a cashback benefit applicable to payment plans up to age 70. This cashback feature allows policyholders to receive a refund equivalent to 12-month premiums every five years, provided premiums are up-to-date and no claims have been made on the policy.

The plan, he said, allows for payment of the benefit on the death of loved ones who are covered under the plan.

“The policyholder will choose the benefit payable upon the occurrence of death. The plan also allows for waiver of premium where the policyholder passes on before the other beneficiaries, “he added.