N11bn life insurance cover for 5000 health workers fighting against COVID-19

The Nigerian Insurance Industry has supported the Federal Government of Nigeria by providing N11 billion life insurance cover to the frontline health workers employed in the fight against COVID-19.
The Acting Commissioner for Insurance, Sunday Thomas, disclosed this in a statement made available to Inspenonline, adding. that the benefit which is the sum assured payable to the families or named beneficiary of any of the workers that dies in the line of duty is as follows: Medical Doctors N3 million; Pharmacists/Nurses N2 million and others N1 million.
According to him, the Life Insurance Policy which is the evidence of the contract was presented to the Chairman, Presidential Task Force on COVID-19 through the Honourable Minister of Finance, Budget and National Planning, Hajia Zainab Shamsuna Ahmed.
He said the premium which is in the sum of N112,500,000 for the cover has been fully paid by the Nigerian Insurance Industry in line with the principle of No Premium No Cover, stressing that a total of 19 Life Insurance companies have been accredited to provide the Cover.
Thomas posited that the cover is for a period of 12 months effective April 14, 2020 and that in event of any fatality, the relevant agencies of government will immediately advise the lead Underwriter โ€“ FBNInsurance Limited who will make request for relevant documents needed for payment of the claim.
So far, a 51-year-old medical doctor on Wednesday, April 15, 2020 died of COVID-19 after contracting the virus from a patient he had treated.
The doctor, who died at the Lagos University Teaching Hospital, was rushed to the facility on Monday after attempting to manage a COVID-19 patient in a private hospital in Lagos.
Minister of Health, Osagie Ehanire, has also said about 40 health workers in Nigeria have, so far, tested positive for COVID-19.
Ehanire made this known at the daily Presidential Task Force on COVID-19 briefing yesterday.

Source โ€ Inspen Online.

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