The Chartered Institute of Stockbrokers (CIS) has made history by addressing the physical, mental and financial health of its members through the purchase of group life assurance scheme and personal accident insurance cover for them.
Under the combined group life assurance scheme and group personal accident insurance cover, every member is immediately entitled to a sum of N1,000,000 compensation in the event of death or permanent injury while there is a specified amount for medical bills for injury sustained. Already, the policy, hailed by market watchers as a great succour to Stockbrokers with the rising death of its members, has become effective with the signing of a Memorandum of Understanding (MOU) by the Institute and a leading insurance firm, AfriGlobal Insurance Brokers.
Speaking at the signing ceremony, the Institute’s President, Mr Olatunde Amolegbe, explained that the group insurance scheme was part of the initiatives to create an enabling environment for the members and would be extended to their families soon.
“One of our desires as an Institute is to continue to cater for the welfare of our members and their families. The Institute has decided to put in place life insurance policy for its members such that the families can be taken care of in the event of inevitable. This is historic for the Institute after over 27 years of our existence, we see this as a stepping stone and we are hoping to do more by extending the benefits to family members of our members in the near future”, said Amolegbe.
Corroborating him, the Chairman, Membership Committee, Alhaji Garuba Kurfi, said membership of the Institute goes beyond being a member but also with unique benefits that reciprocate the member’s loyalty, commitment and dedication to the Institute. According to him, at any point in time, value should be created for the members.
“It attracts other people to show the willingness to join an organisation. We believe this the right step and we are starting with the members for now but hope to include family members in the future. More members will join the benefit fold very soon while we are expecting other professional bodies to follow suit.”, Kurfi said.
“We are pleased to be part of this signing ceremony. We are honoured to be the provider insurance intermediation services to this highly esteemed Institute,” he added.