2018 BUDGET: FG PLANS GROUP LIFE INSURANCE FOR WORKERS



The federal government has made budgetary provision to the tune of N5.4 billion as 2018 Group Life Insurance cover for its 89,000 workforce, in the 2018 national budget currently before the National Assembly (NASS), Eyes Of Lagos can exclusively reveal.

To this end, all government workers who die or suffer accident in active service will have access to group life insurance claims as soon as it is activated in the second quarter of the year. Group life insurance is a cover undertaken by the federal government through the Office of Head of Civil Service of the Federation on behalf of its federal civil servants for their protection against unforeseen circumstances, such as death and disabilities associated with industrial hazards while in active service.

However, the workers may have to wait till around August, 2018 after the legislators must have passed the budget and necessary appropriation made to become functional. However, Eyes Of Lagos investigation revealed that selection process for the underwriters and brokers interested in writing the group cover would begin in the coming weeks, while about 20 to 21 insurance companies and about 100 insurance brokers would be finally selected to underwrite the 2018 group life cover of its civil servants spread across the federation. Section 4 (5) of the Pension Reform Act(PRA) 2014 states that “every employer(FG) shall maintain a group life insurance policy in favour of each employee for a minimum of three times the annual total emolument of the employee and premium shall be paid not later than the date of commencement.”

Meanwhile, investigation revealed that the federal government is still owing about N2.1 billion amounting to 38 per cent as outstanding premium for 2017 Group Life Cover of its workers across the country. A source however disclosed that there are skeletal arrangement ongoing to pay the 2017 outstanding premium balance to the 20 insurance companies concerned. Eyes Of Lagos had reported that the federal government had earlier paid 62 per cent of the 2017 group life premium of its workers amounting to N3.3 billion from the total premium of N5.4 billion, leaving an outstanding of N2.1 billion.

Confirming the development, managing director, Lectern Insurance Brokers, Mr. Tunde Oguntade, said the federal government has paid about 62 per cent of the 2017 premium, but yet to pay the remaining 38 per cent, adding that the policy life span is between December 2016 to November 2017.

He stressed that even though the federal government arranged this insurance contract through the Office of Head of Civil Service of the Federation in August 2016, the government only paid 42 per cent of the required premium in December 2016, paid about 20 per cent in August, 2017 saying, because of the ‘No Premium, No Cover’ provision, insurers only activated the cover when premium was paid in December 2016. “62 per cent of the premium has been paid, but the remaining 38 per cent has not been paid.

The policy was supposed to start in August, but the premium was not paid until December, 2016 and insurance operators implemented the no premium no cover, so, it starts counting from December,” he pointed out. To this end, civil servants were not insured from August to November 2016 due to non-payment of the required premium.

The Permanent Secretary (Common Services Office) in the Office of Head of Civil Service of the Federation (OHSF), Mr. Yemi Adelakun, had, last year, said: “It (premium) is usually N5.4 billion annually for civil servants. That’s the figure and that had been recurring for the last three or four years.” “For this current one (2017), I think we shortlisted 21 insurance companies and Bureau of Public Procurement (BPP) gave us certificate of no objection for 20. And we can only work with those approved by the BPP and that approval has been confirmed by Mr. President,” he added.


Source:
http://www.eyesoflagos.com/2018/01/2018-budget-fg-plans-group-life.html?m=1

Okay brb

Even though this is a welcome development (well still on paper) I don't think this is what the masses need now especially in this economic downturn that will are experiencing now.



What we need is for the average Nigerian to have easy access to basic fundamentals., a fall in prices of goods and services and increasing the purchasing power of the naira.

chriskosherbal:
Even though this is a welcome development (well still on paper) I don't think this is what the masses need now especially in this economic downturn that will are experiencing now.



What we need is for the average Nigerian to have easy access to basic fundamentals., a fall in prices of goods and services and increasing the purchasing power of the naira.

That’s one, an averrage Nigerian needs health insurance too. People should be able to access healthcare when they are sick without this trouble of hospitals demanding thousands of naira deposit before treating a dying patient. Infact this should come first not Accidental and dismemberment insurance. that is not going to be accessible by the victims.

Optional09:


That’s one, an averrage Nigerian needs health insurance too. People should be able to access healthcare when they are sick without this trouble of hospitals demanding thousands of naira deposit before treating a dying patient. Infact this should come first not Accidental and dismemberment insurance. that is not going to be accessible by the victims.

Health care insurance falls within the purview of the NHIS

The group life insurance is good. Means additional benefits when a family lose an income earner

aolawale025:


Health care insurance falls within the purview of the NHIS

You don’t put secondary above primary that’s what I am saying. Integrating PHI into ADI would automatically fail.

[quote author=alphonsojaybaz post=63993798]2018 BUDGET: FG PLANS GROUP LIFE INSURANCE FOR WORKERS
Source:
http://www.eyesoflagos.com/2018/01/2018-budget-fg-plans-group-life.html?m=1



The federal government has made budgetary provision to the tune of N5.4 billion as 2018 Group Life Insurance cover for its 89,000 workforce, in the 2018 national budget currently before the National Assembly (NASS), Eyes Of Lagos can exclusively reveal. To this end, all government workers who die or suffer accident in active service will have access to group life insurance claims as soon as it is activated in the second quarter of the year.


Op, thank you for this piece of information. Honestly I'm very elated to read this. My late mum died in 2015 in active service & she was with Maritime Academy of Nigeria. I went to her employer to inquire if she was covered for Group life Insurance and to my greatest surprise, they said no one has been covered from the inception of the 2004 pension reform act. I don't even know how to go about it. Please is there any hope? How do I get her covered even after her demise? Pls reply. Thanks!

pls my Dad died since 2014....he was a staff of Auchi polytechnic Auchi (Federal) nd up till knw his group life insurance has nt been paid by federal govt,he died in service...

what is holding the nigerians from enrolling in health insurance
abi u want to pretend you don't know its available

Optional09:


That’s one, an averrage Nigerian needs health insurance too. People should be able to access healthcare when they are sick without this trouble of hospitals demanding thousands of naira deposit before treating a dying patient. Infact this should come first not Accidental and dismemberment insurance. that is not going to be accessible by the victims.

mikolo80:
what is holding the nigerians from enrolling in health insurance
abi u want to pretend you don't know its available

Government should subsidise health insurance for the poor and build more standard hospitals accessible in every county. Something like MEDICAID

Optional09:


Government should subsidise health insurance for the poor and build more standard hospitals accessible in every county

subsidies breed failure.
poor should stop breeding like rabbits

mikolo80:
subsidies breed failure.
poor should stop breeding like rabbits

You don’t seems to understand what Gate was saying when he said Nigeria is the most difficult place to give birth.

Optional09:


You don’t seems to understand what Gate was saying when he said Nigeria is the most difficult place to give birth.

who cares
what he says
he looking for excuse to sterilise you and your offspring and you're welcoming him

Santaglox:
pls my Dad died since 2014....he was a staff of Auchi polytechnic Auchi (Federal) nd up till knw his group life insurance has nt been paid by federal govt,he died in service...

Sorry to inform you that the level of corruption in this country might probably have affected your family getting any benefit. In my few years of experience in insurance. 2017-2018 insurance year was the only year premium was paid in time and in full on all FG workers life. So what it means is that any FG worker that died in the last one year has like 95% assurance the benefit will be paid.
Am sure premium was not paid in 2014 by FG that is why there is issue on your case.
Send the exact date and name, i should get a feedback if the claim was lodged and if its still outstanding.

[quote author=OfficialSam post=64013680][/quote]
Under which ministry is maritime Academy, whats the exact date of date and name?
Only Ministries and their MDA that are covered under Head of Service Group life scheme.
Any Govt organization not under HOS may have group life. Like FAAN, Armed Forces have insurance cover.

Sammiejokes:

Under which ministry is maritime Academy, whats the exact date of date and name?
Only Ministries and their MDA that are covered under Head of Service Group life scheme.
Any Govt organization not under HOS may have group life. Like FAAN, Armed Forces have insurance cover.

I'm so sorry, I have not seen your comment until now, as I don't always have notifications. It's under Ministry of Transport. We lost her on the 6th of August, 2015 & the documentation was done on 16th Feb., 2017 @ Premium Pension Limited. We are yet to receive a dime. But my concern now is if it's possible to get the group life. Pls is there any info you can sort for? Or should I travel to HOS in ABJ. Just want to be sure before wasting money for transport fare. Thank you!

OfficialSam:


I'm so sorry, I have not seen your comment until now, as I don't always have notifications. It's under Ministry of Transport. We lost her on the 6th of August, 2015 & the documentation was done on 16th Feb., 2017 @ Premium Pension Limited. We are yet to receive a dime. But my concern now is if it's possible to get the group life. Pls is there any info you can sort for? Or should I travel to HOS in ABJ. Just want to be sure before wasting money for transport fare. Thank you!

Visit NAICOM office in Lagos or Abuja.

Sammiejokes:

Visit NAICOM office in Lagos or Abuja.

Alright, thanks!

Election gimmick to woo workers vote.
Soon to be dumped in the dustbin once they secure their positions.

This is a positive development by the PMB Administration, now the workers will have security which is insurance for the workers as soon as they out of service...This is a good one by the PMB Administration

Thnk u very much my Dad died 5th April 2014 nd his name is MacOffman Emmanuel Okosun he was a. lecturer in Auchi Polytechnic Auchi.

Santaglox:
Thnk u very much my Dad died 5th April 2014 nd his name is MacOffman Emmanuel Okosun he was a. lecturer in Auchi Polytechnic Auchi.

Have you gotten the Group Life?