The Institute of Loss Adjusters of Nigeria is set to establish a welfare programme for its members that will be midwifed by life insurance company that will entail a group life policy for members.
The desire to have the policy in place was repeatedly raised by members who advised it was better than having members asked to contribute outside their annual financial obligation for members.
The President Oladiipo Olanrewaju said having such cover would be a legacy that would be sustained and would so packaged to accommodate members of all ages stating that life insurance companies have a way of accommodating all. “The older you are the higher the premium. I don’t think age is a problem why the policy is not in place, we need to do our work properly now to ensure that we have.
Some companies have approached us to interact with us, the welfare department have to work and ensure that it comes to reality. “Some of our members that have died we had to start contributing, so if we can transfer that risk to insurance companies then the burden will be off our neck by paying a little premium.”