Wapic Insurance

FOUNDED IN 1958, WAPIC INSURANCE PLC is a leading West African insurance company. The company offers a diverse range of insurance products and services. They cover life, general and unique risks. They are also licensed to underwrite all classes of insurance such as goods-in-transit, fire and special perils, all risk insurance etc.

Over the last fifty years, Wapic has gathered experience in risk management, underwriting and assisting individuals and corporate entities with various types of cover. Wapic currently operates through its subsidiaries; Wapic Life Assurance Limited which operates in Nigeria and Wapic Insurance Limited in Ghana. To bolster their ongoing repositioning and restructuring initiative, they merged with Intercontinental Properties Limited which has dramatically enhanced their underwriting capacities. This insurance company has also been on the Nigerian Stock Exchange since 1990. It is among the top five insurance companies in Nigeria.

Services & Products

The company’s insurance products fall into Life, General and Investment categories

Life Insurance

This insurance package covers

• Mortgage Protection: Provides indemnity to a lender in case of the borrower’s death. It also eliminates the burden of loan repayment from the bereaved.

• Keyman Assurance: Allows organisations to insure their key personnel for business continuity.

• Multiprotection Plan: This plan protects loved ones in the event of the death of the policyholder. It also covers financial loss by the policyholder during permanent disability and payment of medical expenses.

• Term Life Assurance: Protects the livelihood of the insured’s dependents in the event of his/her death within the period of the cover.

• Whole Life Assurance: Comes in two forms; whole ordinary life and limited premium payment whole life. Both cover the assured for the whole of his/her life. General Insurance This insurance package covers

• Travel Insurance: Covers risks associated with travelling out of your country temporarily.

• Motor Insurance: Covers damages on your car, including other people’s vehicles and property.

• Marine Insurance: Provides indemnity for loss or damages to imported goods transported by air or sea.

• Home Owners: It covers damages caused by flood or fire to buildings and also covers injuries to visitors on the properties. Investment Insurance This insurance package covers

• The Smart Life Plan: This provides you with the opportunity to save towards specific goals with an embedded insurance cover.

• Smart Life+: This plan allows you to save towards short term obligations and emergencies while giving you a free life cover

• The Smart Senior Plan: This provides you with an opportunity to save funds towards retirement with an embedded insurance cover.

• Smart Scholar: This provides you with the opportunity to save funds towards financing your child’s education.

• The Smart Wealth Plan: This provides you with the chance of investment and embedded insurance protection against the risks of death. Although the deduction of the premium occurs within the period of investment, the insurance cover is for life.

Claims Processing

An insurance claim is a