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GROUP LIFE ASSURANCE PROGRAMME

By admin on April 1, 2019

The Pension Reform Act 2014 provides that every employer of labor with not less than 5 employees must insure the employees to a mini-mum of 3 times of their annual total emoluments. This act was signed into law in 2004, marking the beginning of Group Life Assurance Scheme under the office of the Civil Service of the Federation for Federal Government employees in MDAs. This involves a verification exercise after which a backlog of death benefits claims are paid to employees for the period not covered by insurance companies.

To ensure effective implementation of past insurance policies, the SWO meets with the insurance companies/brokers regularly to attend to issues of delay in payment of claims by some insurance companies and incorrect computation of claims by some insurance compa-nies. Only recently the benefit of the deceased staff of the Code of Conduct Bureau was corrected as a result of the intervention of this office.

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