Allianz Nigeria has introduced a financial cushion against unexpected funeral expenses to Nigerians called the family protection plan that will lead to claims to cover funeral expenses following the loss of a loved one

The Chief Executive Officer, Allianz Nigeria, Adeolu Adewumi-Zer, said the new product is the outcome of months of extensive market research into current and prospective customer demands in the local market.

Adewumi-Zer, during the launch, explained that the economic meltdown has highlighted the need for products that lighten the financial burden on middle and low-income families, following a tragedy or loss.

The insurance product will offer protection to the entire family by covering the cost of funeral rites.
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Burial ceremonies form an important part of the Nigerian culture across ethnicities. Often, paying last respect to loved ones imposes a heavy financial burden upon the surviving relatives. The company explained that these are the rationale of the policy.

“At Allianz Nigeria, we are focused on creating simple intuitive products that solve real problems that are unique to the Nigerian market. We wanted to provide a very flexible product that is affordable to an average Nigerian, regardless of their income level,” Adewumi-Zer said.