The federal government is set to begin an awareness programme on group life insurance policy for all categories of civil servants whose salaries are treasury funded.
This is part of measures instituted by the Head of the Civil Service of the Federation, Dr. Folasade Yemi-Esan, to enlighten Nigerian workers on their entitlements.
Vanguard reports that the Federal Executive Council, FEC, recently approved the disbursement of N9.2 billion, as premium for insurance companies, managing insurance coverage for federal civil servants for the year 2021-2022.
According to the Director of Insurance, Head of the Civil Service of the Federation, Mr. Charles Wali, the Pension reform Act of 2014 provides that employers (Public/Private) should maintain a life assurance policy for employees for a minimum of 300 per cent of the annual total emolument.
He further said that the Office of the Head of Service has been paying a backlog of death benefits incurred before the institutionalization of the 2014 pension reform Act.
To access the payment, the Next of Kin (NOK) of deceased workers who die in active service are expected to come forward with pay slip, means of identification and death certificate.
With the submission of all required documents, a discharged voucher is issued by the insurance company for Next of Kin to fill and return after which the insurance benefits would be paid within 3-5 working days.
Mr. Wali assured that the Office of the Head of the Civil Service of the Federation, is closely monitoring the activities of assigned insurance companies to ensure that due diligence is followed, and every claim is promptly paid.
VANGUARD
