BUY A POLICY AT African Alliance Insurance Plc.......MUST READ

 I am a representative ..You can reach me at asdatguy@gmail.com
African Alliance Insurance Plc was incorporated as a Private Limited Liability Company on May 6th 1960 and was the first Indigenous Insurance to carry out the business of Life Assurance in Nigeria.

The Company was originally set up in partnership with Munich Reinsurance Company of Germany, the largest Reinsurance Company in the world. Munich – Re still provides technical support to the Company on a need basis.


In 2005, African Alliance became the first licensed Takaful (Islamic Insurance) Operator in Nigeria – a concept borne of the desire to satisfy the needs of the Muslim Ummah in Nigeria through a robust selection of Sharia – compliant insurance and investment products based on the concepts of “Al-Mudarabah” and “Al-Tabarru”.

Also in 2005 African Alliance Insurance (then still a Limited Liability Company) in a Joint Venture with First Securities Discount House Limited (“FSDH”) set up Pensions Alliance Limited (“PAL”), a licensed Pension Fund Administrator.

In 2009, African Alliance was listed on the Nigerian Stock Exchange; thus becoming known as African Alliance Insurance Plc.

Following its’ successful recapitalization in 2007, African Alliance currently has a Shareholders’ Fund of about N 7.92bn, while the Company’s Gross Premium Income and Asset Base currently stand at about N 3.6bn and N 13.93bn respectively (figures as at December 2011 – unaudited).

African Alliance has 100% equity in Axiom Air Limited, a Cargo Airline Company and Frenchies Foods (Nigeria) Limited, a Restaurant and Catering Services Company.
Our marketing efforts are co-ordinated through a network of 16 Branch Offices manned by experienced managers and highly motivated sales personnel for effective field coverage of the entire Country.
The core competencies of the Company are a creative combination of Protection (Term Assurance and Group Life), Savings and Investment Products and over the years, African Alliance has established a solid reputation for excellent customer service and prompt claims settlement. SEE THE POLICIES..YOU CAN START MONTHLY WITH  N10 000.MONTHLY MINIMUM

Money Appreciation Plan

The plan provides a great avenue to save whilst at the same time enjoying the peace of mind that comes with having a life cover gives.The peculiarity of this plan is that you collect 30%of your guaranteed sum assured at periodic intervals during the tenor of the plan and still collect the full Sum assured plus bonus at the end of the policy term.
Features and Benefits.

• Periodic payments during the period of investment.
• Tax relief on premium
• Payment of in the event of accidental death.
• High return on investment.
• Premium payments remain the same throughout the duration of policy.

Before maturity:

•  30% of your guaranteed sum assured at periodic intervals during the tenor of the plan

At maturity:

• At maturity, payment of accrued bonus plus full sum assured. Where death is by accident, double sum assured (subject to maximum of N1million) is paid.

At death:

• Payment of full sum assured plus bonuses to beneficiaries or legal representatives in the event of premature death.

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Annuity

Under the new contributory pension scheme governed by the pension Reform act 2004, a potential retiree, while in active service, is expected to know what his retirement options are. Unfortunately, most retires are usually ignorant about how to make the best choice out of the two retirement options available for drawing their pension benefits.
Under the Pension Reformed Act 2004, retiree is expected to have sufficient knowledge on the options that are available to choose from:
This option provides regular payment by an insurance company to the Pensioner or Annuitant until he or she dies.
Features:

• Guaranteed life-time income payments are made to you as long as you are alive

• Your money is protected from creditors.

• There is no limit to the amount you can put into an annuity, you therefore have tax-free investment of your funds.

• There is a ten years guarantee period for the Annuitant.

Download Product Proposal Form

Group Life Assurance

A Group Life insurance contract covers the members of a particular group such as Company Employees or members of a Club, Society, Association, Church, Mosque etc.
The Pension Reform Act 2004 requires all Employers of Labor to provide Life Insurance cover for their Employees. The minimum Benefit to be received by an Employee’s Beneficiary as specified by the Act is three times an Employee’s Total Emolument.
KeyFeatures:

• The Scheme is arranged primarily to provide benefits in the event of death.
  
• Benefits are usually in form of a single Lump Sum payment.
  
• Benefits (i.e. the Sum Assured) are multiples of an Employee’s Total Emolument (minimum of 3 times such Emolument as prescribed by Nigerian Law).
  
• It is the cheapest form of Life Insurance (see sample quotation below).
  
• It is usually valid for a period of 1 year but can be renewed annually thereafter.
  
• Cost is usually borne solely by the Employer; Employees do not contribute towards the cost of the Scheme. 
  

Name	Age	Sum Assured	Annual Premium
Mr. A.	25	1,000,000.00	3,280.00
Mr. B.	30	1,000,000.00	3,330.00
Mr. C.	35	1,000,000.00	3,530.00
Mrs. D.	40	1,000,000.00	4,230.00

For ease of administration, a fixed premium rate could be adopted for all members irrespective of their ages.
Requirements:
The following would be required from interested Employers for the computation of benefits and the corresponding premium payments:

• Names of Employees/Members

• Gender / Sex of Individual Employees/Members

•  Dates of Birth of Individual Employees/Members

• Required Level of Benefits (i.e. Sum Assured)

• Commencement Date of the Scheme 

Once the above information has been received, African Alliance will generate your Organizations’ Group Life Scheme.

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Children Education Plan (CEP)

Features:

•          This unique plan helps to;
  

a.    Save towards the future planned education of a named child/ dependant

b.    It provides a regular income to named child/ dependant on the death or permanent disability of policyholder

•          Maximum age at inception is 60years, maximum age at maturity is 70years
  
•          Varied policy duration ( between 10 & 15years)
  
•          Minimum sum assured is  N 500,000
  
•          Bonus added regularly
  
•        Premium payment easy and convenient, can be semi-annual or annual
  

Benefit Payment:

At Death:

•          2% of the basic Sum Assured together with the accrued declared bonus shall be paid as monthly income to the family of the deceased up to the maturity date of the plan.
  

•         All outstanding premiums to the maturity date shall be waived and met by the Company.
  

At Maturity:

•         Upon Maturity, the basic Sum Assured together with all accrued declared bonus shall be paid to the named child for him/ her to pursue education.
  

Total permanent disablement:

•         In the event of the policyholder becoming permanently or totally disabled before the maturity date, 2% of Sum Assured shall be paid as the monthly income to the family of the deceased up to the maturity date of the plan.
  
•          Outstanding premiums to maturity date shall be waived and met by the Company
  

Other guarantee:

The contract can be transferred to another named child if the initially named dies before the chosen maturity date

Withdrawal/Surrender

The plan can be surrendered or “cashed in” after two consecutive years.

Download Product Proposal Form