INSURFEEL AND UNIVERSAL INSURANCE DONATE N51.8m FREE INSURANCE PLAN COVER TO LASU FACULTY OF MANAGEMENT SCIENCES STUDENTS’ EXECUTIVES

INSURFEEL, UNIVERSAL INSURANCE DONATE N51.8m FREE INSURANCE PLAN COVER TO LASU FACULTY OF MANAGEMENT SCIENCES STUDENTS’ EXECUTIVES

Insurfeel initiative, in partnership with Universal Insurance Plc, has donated a total of N51.8 million worth of free insurance plan cover to the executive members of the Faculty of Management Sciences at an event held on March 25, 2024. The donation was made to the President, General Secretary, and Public Relations Officers of all eight departments within the faculty.

The promoter Insurfeel initiative, Mr Chuks Okonta, explained that the free insurance plan initiative aims to ensure the safety of individuals and utilise insurance as a means to prevent poverty. He expressed that the initiative will help bring insurance services closer to the people and enhance insurance penetration.

In his address, Mr Okonta mentioned that the strategy of the initiative involves collaborating with organisations, groups, and associations to provide free insurance policies to those who are uninsured.

Finally, in addition to the students’ executives, the outgoing Dean, Faculty of Management Sciences, Prof. Raheem Akewushola and the newly elected Dean, Prof.Rafiu Bankole, will also be beneficiaries of the insurance cover, Mr. Okonta announced.

Mr Tony Okafor, the underwriter, provided details about the insurance cover. He stated that the policies would cover the executive members of the different departments within the faculty for one year, coinciding with their term in office. “The coverage includes medical expenses for the student, permanent disability benefit for the student, death benefit for the student, permanent disability benefit for the parent, and death benefit for the parent. Each beneficiary and their caregiver will be entitled to a coverage amount of N2.55 million in total,” he concluded.

Prof. Raheem Akewushola, the outgoing Dean, expressed his appreciation for the initiative and commended Insurfeel and Universal Insurance Plc for their generosity. He believes that the gesture will have a positive impact on the lives of the beneficiaries.

The newly elected Dean of the Faculty of Management Sciences, Prof. Rafiu Bankole also expressed gratitude for the benevolent act of Insurfeel initiative and Universal Insurance Plc. for finding the Faculty worthy of such gesture and expressed optimism that more opportunities would arise for other members of the faculty.

The event ended with a vote of thanks by Prof. A. K. Onafalujo

The event was attended by notable individuals in the insurance industry, including Mr. Edwin Igbiti, President of the Chartered Institute of Insurance in Nigeria, as well as Mr Saka Kaleed and Mr Tony Okafor. Heads of Departments within the Faculty of Management Sciences and members of the Department of Insurance also attended, along with the students who will benefit from the insurance coverage.