Our new ‘Family Love’ Product Is A Gift That Bears Funeral Burdens- Sanlam Nigeria

By LOVETH AZODO, Lagos

….. As Underwriter Introduces ‘*1056# Code Of Confidence’ For Prompt Claims Settlement

Sanlam Nigeria has officially announced the introduction of two of its latest products, the ‘Family Love’ plan and ‘*1056# Code of Confidence’ product to the Nigerian market.

The company made the announcement at the official launch of the two product, Tuesday in Lagos.

The MD/CEO Sanlam Life, Tunde Mimiko while addressing the guest explained that the the Family Love Plan is a funeral plan that helps policyholders honour and celebrate their loved ones who are no more without worrying about the financial burden of funeral expenses.

According to him, the inspiration behind the creation of the product came as a result of the love the company has for Nigeria to give the nation a befitting gift in commemoration of the nation’s 63rd Independence anniversary.

He stated that “Family Love helps you give a memorable farewell to your departed loved ones with love and dignity. “At Sanlam Nigeria, we understand the love and care you have for family. This is why we created the Family Love plan. With Family Love, you don’t have to break the bank or compromise on your class, to give your beloved parents, that your favourite uncle or even in-laws, a deserving farewell when the eventuality happens,” he said.

Speaking on the affordability of the product, he revealed that the product which has a cover to the tune of N1million to N5million and eligible for persons whose age range falls between 15 to 65years is very affordable, Policyholders can buy for as little as N5000.

He added that the product comes with several benefits, highlighting the benefits he said “After the ceremony and the deceased has been laid to rest, family income has been lost the family members and dependents of the person that are left behind go through financial difficulties,, so we considered that and added the family income benefits which provides income of 50,000 for six months for the dependents.”

“In addition to this, we also have benefits that provides another lump sum payment after a year for first anniversary of 50 percent of the funeral benefit for memorial. For instance if we paid 5million as the funeral benefit, it means we will pay 2.5million for the memorial. Another benefit is that we pay an additional 10% as cost of repatriating the remains of the deceased.we pay the family of the departed in other to move the deceased to final place of burial.”

On the issue of paying premium for donkey years without claim, Mimiko assured that the plan provides cash back, Policyholders are to be paid six months premium for every three years of not having claims.

The Code of Confidence is a unique product in Nigeria that enables Sanlam customers to report and settle third party motor insurance claims using a simple USSD code, *1056#. The first-of-its-kind in Nigeria, the product has since gained traction and popularity in the market.

MD/CEO of Sanlam General Insurance, Bode Opadokun expressed his excitement about the official launch of the Code of Confidence. He emphasised the brand’s relentless commitment to stakeholder-friendly ideas and innovations. He said: “We are particularly proud to highlight our USSD Code of Confidence, *1056#, which revolutionises the way our customers report and settle 3rd party motor insurance claims. With this innovation, our customers can rest assured that they are just a dial away from getting their motor insurance settled on the spot.”

According to him, Industry watchers agree that the launch of both products reflect Sanlam’s continuous innovative strategy and commitment to customer satisfaction. Sanlam has taken the Insurance business in Nigeria from just settling claims to settling claims in less than two hours.

“You will agree with me that Insurance is a hard sell in Nigeria, most Nigerians don’t believe in insurance but we have taken it further from just settling claims to settling it promptly.

“To buy the Family Love Plan, visit the Sanlam Nigeria website www.sanlam.com.ng and select your preferred package, and follow the prompts. To use *1056#, Sanlam customers simply need to dial the code on their mobile phones and follow the instructions on the screen. The code works on MTN and Airtel networks on any mobile device. Once the claim is initiated, a Sanlam representative will contact the customer within 24 hours to verify the details and process the payment,” he said.