An assurance product that would see to it that customers’ relatives’ funeral expenses will be bankrolled has been introduced by Leadway Assurance. The product, which was unveiled at the weekend, will help to ease the pains of having to borrow in order to foot burial costs.
During the unveiling, the company announced that it has made new exciting additions to its bouquet of products with the introduction of the Leadway Family Benefit Plan Plus (Leadway FBPP). Accordingly, the Leadway FBPP will create a value for customers, who now stand to gain from the multi-life policy.
The Leadway FBPP provides those covered under the policy with the benefit of having Leadway meet the heavy burden of specified funeral expenses for their loved ones covered under the policy.
It pays the specified funeral expenses in the event of the demise of the policyholder or any of the additional assured lives if their death precedes that of the policyholder, ensuring concerned loved ones can meet the immediate needs of the family without the fear of falling into financial strain.
The Leadway FBPP allows a policyholder to access a bouquet of benefits, which include but not limited to funeral expenses for the policyholder or their spouse, the parents, and/or parents in-law that are named in the policy. The age covered by plan is from 18 years to 75 years.
While fielding questions from the press on how one can join the plan, the team explained that there are two specified plans, the five-year plan and the seven-year plan. According to members of the team, the moment the policyholder completes the plan, he/she stops paying while his/her benefits continue to run.