The Nigerian Bar Association (NBA), has announced a renewal of the Life Assurance Scheme for its members who have paid their 2020 Bar Practice Fee (BPF) not later than March 31.
The NBA President, Mr Paul Usoro (SAN) made this known in a statement on Thursday in Lagos.
Usoro called on all branch chairmen to submit outstanding claims for members who died in 2019, but had already paid their BPF.
He said that the outstanding claims are to be submitted to the National Secretariat not later than May 15, to enable NBA close the book for the 2019 Insurance Scheme.
“We are pleased to announce the renewal of the Life Assurance Scheme (“Life Scheme” or “Scheme”) for NBA Members who had, as at 31 March 2020 paid their Bar Practice Fees (“BPF”) for Year 2020.
“Our Partner for the Scheme remains Leadway Assurance Company Limited (“Leadway Assurance” or “Leadway”), who, we are happy to state, have honored its obligations by settling all the death benefit claims – about 18 in all that we have presented to it.
“To enable us close the books on the claims for 2019, we urge Branches to submit to the National Secretariat’s Bar Services Unit, not later than 15 May, any outstanding claims in respect of any of our deceased members who had paid his BPF for 2019 as at 31 March 2019 and had passed on in Year 2019.
“We would wish to close the books on the preceding year’s claims by the said date.
“We should perhaps refresh our members’ memories on the salient features of the Life Scheme as follows:
“The renewed cover is for one calendar year, beginning from Jan. 1, 2020.
“As we pointed out in our Release of Sept. 21, 2019, the Scheme did not operate between 2017 and 2018 due to non-payment of the requisite premium amounts.
“In the circumstance, neither Leadway nor the NBA is or can be liable under the Scheme howsoever for any deaths or accidental permanent disabilities that may have occurred during the said period of 2017 and 2018.
“The Scheme is only for NBA members who paid their 2020 Bar Practice Fees as at March 31, 2020; The number of such members is a little more than 51,000; a slight increase from the 2019 figure.
“We are working with Leadway for the issuance of certificates to each of the members,” the read in part.
According to the NBA, the three benefits under the Scheme are as follows:
“Death cover- N1 million; Accidental Permanent Total Disability (“PTD”) N1 million; Accidental medical expenses benefit N30,000.00,”
According to the NBA, payment by Leadway Assurance on either Death or Accidental PTD on any member terminates the cover for the member.
He said that the NBA has no liability under the Scheme howsoever, as the Association merely facilitates the Life Scheme for the benefit of members and therefore bears no contractual liability therefrom. (NAN)