Flexible Endowment Plan

An endowment plan that combines protection and investment. It provides for guaranteed payouts at regular intervals in three installments.


  • Provides for guaranteed payouts at regular intervals in three installments.

    1st Payment at      -     25% of face amount        -    1/3 of the term of the policy.

    2nd Payment at     -     25% of face amount        -    2/3 of the term of the policy

    3rd Payment at maturity date        -     100% of the face amount    

  • Provides for full payment of the face amount in the event of death of the policyholder during the period of insurance.
  • Period of insurance ranges from 6, 9, 12, and 15 years.
  • Provides for annual reversionary bonus payable in addition to the face amount or earlier death at the rate of 4% or N40.00 per thousand.
  • Provides for cash values on the basic policy and the declared reversionary bonus.
  • Provides for 70% of Cash Value as loanable value after three years of running the policy.
  • Provides for policy surrender after two years of payment and maintenance of policy.

Additional Riders:

  1. Waiver of premium – This benefit comes to force at a time when a policyholder is unable to perform his normal duties as a result of either accident or critical illness for a minimum of six months. Premiums that fall due within such period are waived and the policyholder will not be charged for it.
  2. Permanent Total Disability – This covers the loss of body parts that make it impossible for the customer to continue to work as he used to. At this point, the policy is treated as being closed and the benefit is paid. Examples of such disability are loss of both eyes, both hands and both legs (if he is a footballer).
  3. Accidental Death, Dismemberment and Weekly Indemnity Rider – This covers loss of parts of the body following an accident as stated in the schedule of Indemnity attached to the policy document. The principal sum under this benefit rider is N2,000,000.00.

Who purchases this cover?

Everyone who is desirous of putting in place adequate protection for himself and family

About Us

AIICO Insurance Plc., is the leading life insurer in Nigeria.

Founded in 1963, AIICO provides life and health insurance, general insurance, investment management and pension management services as a means to create and protect wealth for individuals, families and corporate customers.