Only four states in the country have complied with the compulsory Group Life Insurance Policy, which is stipulated in the Pension Reform Act.

According to figures obtained by our correspondent from the National Pension Commission on Friday, only Lagos, Niger, Osun and Rivers states have complied with the GLIP as of the end of September 2017.


The commission added that the four states were also funding the Retirement Savings Accounts of their workers under the Contributory Pension Scheme.

The Lagos State Head of Service, Mrs. Folashade Adesoye, had said the insurance welfare package was part of the staff welfare programmes provided by the state government for Lagos State public service workers.

She added that the package also involved group personal accident insurance, motor accident insurance, property liability and marine insurance, as well as coverage for government’s properties.


Adesoye said, “The primary policy objective of the payment of insurance death benefits is, therefore, essentially for the funds to serve as succour for the immediate families, dependants and other beneficiaries of the deceased.

“It is the hope and expectation of government that the immediate needs of feeding, clothing, school fees, house rent, transport, medicals and general family well-being would be substantially addressed (even if not totally) in the period between the demise of the family’s breadwinner, the release of his entitlements and the institution of more permanent support structures.”

The GLIP emanates from the Pension Reform Act, which states, “Employers shall maintain life insurance policy in favour of the employee for a minimum of three times the annual total emolument of the employee.”


Findings under the GLIP of the Federal Government reveal that relatives of many deceased public employees may not be entitled to any form of insurance claims because of the consistent delay by the government in paying premiums on the cover to the underwriting firms.

Some operators, who spoke with our correspondent, said they had to comply with the ‘no premium, no cover’ regulation of the National Insurance Commission stipulating that insurance cover could only commence when the premium had been paid.

This implies that the dependants of workers, who died when premium had not been paid, will not have anything to claim from the insurance companies, except the Federal Government decides to make a separate package for them.

http://punchng.com/only-four-states-have-insurance-cover-for-workers/

Only four states out of 36, this country still has a long way to go

EvilChild:
Religion is the biggest scam on earth.
Adeboye omo oloja
Oyedepo omo oloja
Otobolizer wire wire
Oyakhilome omo ologo

YOUR OXYGEN DEFICIENT BRAIN IS CLEARLY A BIGGER SCAM THAN RELIGION COS YOUR BRAIN IS JUST PLAYING WITH YOUR REASONING MAKING YOU THINK YOU HAVE SENSE WHILE YOU ACTUALLY DON'T

bbbb

Religion is the biggest scam on earth.
Adeboye omo oloja
Oyedepo omo oloja
Otobolizer wire wire
Oyakhilome omo ologo

Well then

They need insurance in the North more than anywhere else.

Even naija no get insurance

skarlett:
Only four states out of 36, this country still has a long way to go

has no where to go. Long way my foot

This is bad.

Another addition to recurrent expenditure. Group life insurance cost as much as 200k yearly. . Insurance for staff who create zero or no value

Hmmm.....The number was hype moor, I believe the number should have been two but we all know that the Nigeria insurance commission is forming to be active

Bad

I know lagos will be there...

jannisesl:
Are you serious? WOW

you know wetin day do you so no wonder SARS day burst una, so if I want to order now and I say face to face na so I go take arrest you, guy u no fit leave for Malaysia you go Don die since

Osun my state oooooooo


Thank Aregbesola

Lagos must feature

Insurance...we like to talk and behave like others who are ready to grow. Insurance in a country without jobs

Insurance cover should be given to productive workers only.

Even Osun state that some people use to insult the innocent governor. This is serious. What of my brother Fayose state? Hunnnnn just making my contribution oooo

gateleo:
Only four states in the country have complied with the compulsory Group Life Insurance Policy, which is stipulated in the Pension Reform Act.

According to figures obtained by our correspondent from the National Pension Commission on Friday, only Lagos, Niger, Osun and Rivers states have complied with the GLIP as of the end of September 2017.


The commission added that the four states were also funding the Retirement Savings Accounts of their workers under the Contributory Pension Scheme.

The Lagos State Head of Service, Mrs. Folashade Adesoye, had said the insurance welfare package was part of the staff welfare programmes provided by the state government for Lagos State public service workers.

She added that the package also involved group personal accident insurance, motor accident insurance, property liability and marine insurance, as well as coverage for government’s properties.


Adesoye said, “The primary policy objective of the payment of insurance death benefits is, therefore, essentially for the funds to serve as succour for the immediate families, dependants and other beneficiaries of the deceased.

“It is the hope and expectation of government that the immediate needs of feeding, clothing, school fees, house rent, transport, medicals and general family well-being would be substantially addressed (even if not totally) in the period between the demise of the family’s breadwinner, the release of his entitlements and the institution of more permanent support structures.”

The GLIP emanates from the Pension Reform Act, which states, “Employers shall maintain life insurance policy in favour of the employee for a minimum of three times the annual total emolument of the employee.”


Findings under the GLIP of the Federal Government reveal that relatives of many deceased public employees may not be entitled to any form of insurance claims because of the consistent delay by the government in paying premiums on the cover to the underwriting firms.

Some operators, who spoke with our correspondent, said they had to comply with the ‘no premium, no cover’ regulation of the National Insurance Commission stipulating that insurance cover could only commence when the premium had been paid.

This implies that the dependants of workers, who died when premium had not been paid, will not have anything to claim from the insurance companies, except the Federal Government decides to make a separate package for them.

http://punchng.com/only-four-states-have-insurance-cover-for-workers/

h

Olachase:
you know wetin day do you so no wonder SARS day burst una, so if I want to order now and I say face to face na so I go take arrest you, guy u no fit leave for Malaysia you go Don die since

.
What if he's a ripper?

So Ogun State is not there. Thanks Osun is there.

OSUN always in a wrong league

NabeelAbu:
So Ogun State is not there. Thanks Osun is there.

Insurance cover for workers without salary is nonsense.

Shiithole da gaskiye

gateleo:
Only four states in the country have complied with the compulsory Group Life Insurance Policy, which is stipulated in the Pension Reform Act.

According to figures obtained by our correspondent from the National Pension Commission on Friday, only Lagos, Niger, Osun and Rivers states have complied with the GLIP as of the end of September 2017.


The commission added that the four states were also funding the Retirement Savings Accounts of their workers under the Contributory Pension Scheme.

The Lagos State Head of Service, Mrs. Folashade Adesoye, had said the insurance welfare package was part of the staff welfare programmes provided by the state government for Lagos State public service workers.

She added that the package also involved group personal accident insurance, motor accident insurance, property liability and marine insurance, as well as coverage for government’s properties.


Adesoye said, “The primary policy objective of the payment of insurance death benefits is, therefore, essentially for the funds to serve as succour for the immediate families, dependants and other beneficiaries of the deceased.

“It is the hope and expectation of government that the immediate needs of feeding, clothing, school fees, house rent, transport, medicals and general family well-being would be substantially addressed (even if not totally) in the period between the demise of the family’s breadwinner, the release of his entitlements and the institution of more permanent support structures.”

The GLIP emanates from the Pension Reform Act, which states, “Employers shall maintain life insurance policy in favour of the employee for a minimum of three times the annual total emolument of the employee.”


Findings under the GLIP of the Federal Government reveal that relatives of many deceased public employees may not be entitled to any form of insurance claims because of the consistent delay by the government in paying premiums on the cover to the underwriting firms.

Some operators, who spoke with our correspondent, said they had to comply with the ‘no premium, no cover’ regulation of the National Insurance Commission stipulating that insurance cover could only commence when the premium had been paid.

This implies that the dependants of workers, who died when premium had not been paid, will not have anything to claim from the insurance companies, except the Federal Government decides to make a separate package for them.

http://punchng.com/only-four-states-have-insurance-cover-for-workers/

Many states in Nigeria are civil service state nothing productive in terms of human capital development

stefanweeks:
Well then

They need insurance in the North more than anywhere else.

Must you always talk about the North, even in cases where the word North is not entirely mentioned? Is the North your greatest nightmare? Give it some break dude.... Deal with more important things in your life, if you have any.

Is it corporate slavery or individual nonsense?
"American accent for a job" in Nigeria soil. Let's wake up and promote ourself for us to grow.We can't grow by throwing away all good things about our nation to embrace foreign substandard cultures.

noupzy:
looking for someone that has good American accent for a job contact me ASAP jchats@yahoo.com

EvilChild:
Religion is the biggest scam on earth.
Adeboye omo oloja
Oyedepo omo oloja
Otobolizer wire wire
Oyakhilome omo ologo

EvilChild