Insurfeel Initiative Supports Young Folks With School Fees Protection Insurance Plan
Determined to help the younger generation especially students mitigate their risks, Insurfeel Initiative has concluded arrangements to donate School Fees Protection Insurance Plan to university and secondary students across the country.
The donation which is a Corporate Social Responsibility (CSR) concept is done in partnership with notable reinsurance firms.
The Promoter of Insurfeel Initiative Chuks Udo Okonta, said the organisation is presently in talks with the selected schools, adding that the policy would be donated to the students very soon.
He noted that the donation exercise is part of the organisation’s one million insurance cover give away for 2024/2025.
According to him, Insurfeel Initiative focus on students is aimed at enhancing academic excellence by mitigating the risks students are exposed to.
He noted that the cover which runs for a year, would expose the students to insurance and subsequently stimulate their interest to secure their lives and properties with insurance as they grow.
Okonta submitted that School Fees Protection Plan underwriting by Universal Insurance Plc and some insurance firm to be engaged soon, would provide payment of school fees to the named Beneficiary (or Guardian, Trustee or School in case of a minor) of the insured parent/Guardian in event of permanent disability or death resulting from an accident.
He stressed that under the cover, the students would enjoy Medical expenses worth N150,000; Permanent disability benefit N500,000 and N500,000 Death benefit.
On their guardian (parent), he said the students will have Permanent disability benefit of N700,000 and Death benefit of N700,000.
Okonta implored individuals, groups, associations and organisations that are committed to corporate social responsibility to join hands with Insurfeel Initiative in donating insurance covers to the insured in the society.
He reiterated his position that donating insurance is far more cheaper than donating money to people when faced with mishap, noting that donation of insurance covers to the uninsured remains one of the best means to spread insurance gospel and deepen penetration.
Insurfeel Initiative enables the uninformed and uninsured to experience impacts of insurance by receiving insurance policies for free through donations by individuals; groups; associations; organisations and
It entails donation of insurance policies to the uninsured, uninformed and evolved from a research conducted which showed that people who have had positive experience on how insurance works seem to believe and easily embraced the system.
This research, therefore, necessitates the need to extend insurance experience through donation of policies to more people so as to deepen insurance penetration, provide safety; fight poverty and enhance insurance industry’s profitability.
Insurfeel is targeted towards specific individuals, such as; students in secondary schools, teachers and people with distinct impact on lives and the society. They are selected due to their outstanding performance and contributions to human growth.
It is opened to people committed to philanthropy. Through Insurfeel, organisations can by means of Corporate Social Responsibility (CRS) donate insurance policies as souvenir and gifts to deserving members of the public.
In order to grow the industry’s premium whilst helping humanity, Insurfeel Initiative provides a platform for insurance companies to donate their products to the public as against the present trend where products from other sectors are donated to the public.
