₦airaland Forum

Hi People, I got an offer to buy a land with 9 rooms built on top behind Obasanjo Farms in Ota.

So I'll like to know how much does a plot of land cost in the area currently so I can do the right valuations.

Thanks

debeey87:
Hi People, I got an offer to buy a land with 9 rooms built on top behind Obasanjo Farms in Ota.

So I'll like to know how much does a plot of land cost in the area currently so I can do the right valuations.

Thanks

Good saw your question on the stock market thread, currently banned by the anti spam of the Investment section .

How much is the premium?
For how long will you pay the premium?
What is the total premium you are expected to pay?
Have you started the annuity program?
What will happen to the premium paid, for instance God forbid if the Investor dies before 50 yesrs.?

Your answer to these questions will determine the advice I will give you.

Thanks sir for coming here to answer this question.

1. I currently pay 204,932 every quarter as premium (I've contributed over 2m currently)

2. Maturity date is 27/11/2036(15+yrs more of contribution).

3. Total premium I am expected to pay is ₦28,867,076.00

4. I started the annuity program in November 2017

5. The investor's next of Kin gets paid the premium contributed so far.

emmanuelewumi:
Good saw your question on the stock market thread, currently banned by the anti spam of the Investment section .

How much is the premium?
For how long will you pay the premium?
What is the total premium you are expected to pay?
Have you started the annuity program?
What will happen to the premium paid, for instance God forbid if the Investor dies before 50 yesrs.?

Your answer to these questions will determine the advice I will give you.

debeey87:
Thanks sir for coming here to answer this question.

1. I currently pay 204,932 every quarter as premium (I've contributed over 2m currently)

2. Maturity date is 27/11/2036(15+yrs more of contribution).

3. Total premium I am expected to pay is ₦28,867,076.00

4. I started the annuity program in November 2017

5. The investor's next of Kin gets paid the premium contributed so far.

How long will you collect the monthly payment of 500k

Till death

emmanuelewumi:
How long will you collect the monthly payment of 500k

debeey87:
Till death

I prefer stating for a given period. If it for 10 years, and the person dies after 2 years. The next of kin will collect the balance

But till death is not straight forward. Some people collect for 6 months and they died, it is still till death

I'll have to review the policy document again to see if it's stated there(duration). But there's a provision for the next of kin to get the balance should the policy holder die after payment(500k) commences.

debeey87:
Thanks sir for coming here to answer this question.

1. I currently pay 204,932 every quarter as premium (I've contributed over 2m currently)

2. Maturity date is 27/11/2036(15+yrs more of contribution).

3. Total premium I am expected to pay is ₦28,867,076.00

4. I started the annuity program in November 2017

5. The investor's next of Kin gets paid the premium contributed so far.

At 800k per annum you will need close to 30 years to build up a total premium of N28 million

emmanuelewumi:
At 800k per annum you will need close to 30 years to build up a total premium of N28 million

Below is a screenshot of my account. Going by that information, I am not contributing for 30yrs to get that premium at maturity. My assumption is that they're probably using compound interest. Again I'll have a look at the policy document tomorrow at worm

debeey87:
Below is a screenshot of my account. Going by that information, I am not contributing for 30yrs to get that premium at maturity. My assumption is that they're probably using compound interest. Again I'll have a look at the policy document tomorrow at worm

Okay it was compounded

emmanuelewumi:
Okay it was compounded

So what's your opinion about such a retirement plan, particularly because aiico might not be here in another 20yrs.

debeey87:
So what's your opinion about such a retirement plan, particularly because aiico might not be here in another 20yrs.

Aiico is more than 50 years old in Nigeria, so I believe the company will still be around

Ok sir. Thanks for your time

emmanuelewumi:
Aiico is more than 50 years old in Nigeria, so I believe the company will still be around