Insurers pay late Lagos workers’ families N538.96 million claims

A consortium of insurance firms in the country has paid N538.96m claims to 250 families of 102 deceased workers, while in active service under the Lagos State Public service.

The claims were paid under the Group Life Insurance Policy (GLIP) put in place for civil servants by Lagos State Government.

The GLIP emanates from the Pension Reform Act, which states “Employers shall maintain life insurance policy in favour of the employee for a minimum of three times the yearly total emolument of the employee.”

The state Head of Service, Hakeem Muri-Okunola, who was represented by the Permanent Secretary, of the Public Service Office, Mrs. Olasunkanmi Oyegbola, at the presentation of cheques to beneficiaries in Lagos, said Lagos places a high priority on its workers.

Oyegbola noted that the purpose of the payment of this insurance death benefits to the beneficiaries is basically to serve as a succour for the immediate families to avoid dropping out of schools of the younger children or being thrown out of the place of abode by the landlords due to non-availability of sufficient funds for survival and to ensure a much better future for left behind beneficiaries.”

The Commissioner for Finance, Dr. Rabiu Olowo, said: “The Lagos State Government is at the forefront in the provision of adequate welfare for staff and citizens at large no other state is committed to the welfare of staff, either dead or alive, as Lagos State is. I commend Governor Babajide Sanwo-Olu for his total commitment to the welfare of its state workforce.”

The Managing Director of LASACO Assurance Plc, Mr. Rasak Abiodun, who was the lead underwriter among other insurance companies in that business was represented by the General Manager, Dimeji Olona, who advised the families of the deceased to use the money judiciously for the benefit of the immediate beneficiaries whom the deceased left behind.