Lasaco Pays N3 Billion Life Insurance

Lasaco Assurance Plc has revealed that it has paid N3 billion under its Group Life Assurance Policy to Lagos State employees since the commencement of the scheme in 2017.

The company made this known in a statement after it recently paid 97 beneficiaries of its life insurance scheme N190 million.

It said in fulfilment of its corporate policy of maintaining trust and relationship with its clients, it presented between N629,762.69 and N6,590,999.46 to the families of each of the deceased staff.

The deceased staff, it added, were from the Lagos State Universal Basic Education Board, and Local Government and Community Affairs.

Speaking on the payment, Razzaq Abiodun, the Managing Director of Lasaco Assurance, who presented the claims letters to the beneficiaries, explained that the company had so far compensated 1,356 deceased staff of the two organisations to the tune of N3 billion since 2017 when the scheme commenced.

Abiodun traced the company’s life cover for the civil servants of Lagos state to the days of Asiwaju Bola Tinubu, Nigeria’s president-elect, as the governor of the state.