Mutual Benefit Presents Claims Cheque to Family of Deceased Journalist
Stories by Ebere Nwoji Mutual Benefit Assurance plc recently presented a cheque of N1.2 million to the family of a deceased journalist and a member of Finance Correspondents Association of Nigeria (FICAN) Mr. Nat Amogu, a staff of Nigerian Pilot Newspapers who died after a brief illness.
The cheque, which was received on behalf of the deceased family by the chairman of FICAN Mr. Babajide Komolafe with other executive members of the association was in fulfillment of a recent life insurance contract between Mutual Benefit Assurance and FICAN members.
Presenting the cheque to the association, Group Managing Director of Mutual Benefit Assurance Mr. Akin Ogunbiyi urged Nigerians to see insurance as a necessity and the best form of planning against financial crisis.
He said insurance is the only scheme that could better one’s life when the unexpected happens, adding that insurance works and has come of age in Nigeria.
According to him,it is a sign of moral irresponsibility for anyone not to provide insurance cover for his family, adding that even the Bible recommended such provision.
He said the N1.2 million cheque covers both medical expenses and death claims for the deceased.
Also, Managing Director of Mutual Benefit life Assurance Mr. Femi Asenuga said the hallmark of a good underwriting firm is in the speed of settlement of obligations.
He noted that it was not quite long Mutual Benefit entered into the life insurance contract with FICAN before the death occurred, pointing out that the speedy settlement of the claims shows that Mutual Benefit is a company to rely on.
According to him, it is a proof not only that Mutual Benefit is trusted and dependable also a sign that insurance works in Nigeria.
He commended FICAN executives for their proactive steps in putting in place the life insurance scheme for its members adding that death is loss of person and value in terms of family bread winner.
He said with prompt payment of claims attitude of many underwriting firms, Nigerians now have no reason for not taking insurance cover.
In his response FICAN Charman Babajide said the promptness in payment of the claims by Mutual Benefit exceeded the expectation of the association.
He said entering into the insurance contract on behalf of the FICAN members was informed by the determination of the executive members that anything that will better the lots of their members is worth doing.
Furthermore, He said it took the association a long time to arrive at the decision because of the general belief that insurance does not pay claims.
Describing the company’s response to the claims as a swift one, the FICAN Chairman advised the company to keep the flag flying adding that it was sowing a good seed.