NICON Insurance Ltd, said it has paid claims on its Students Welfare Insurance Scheme to about 40 students from Unity Colleges across Nigeria who lost their parents.
According to NICON, the claims arose from the death of the named sponsors of students of various Federal Government Colleges in different parts of Nigeria.
The cheques were presented to the beneficiaries’ principals at the annual general meeting of Principals of Unity Colleges in Uyo, Akwa Ibom State.
Speaking during the presentation of the cheques, the chairman of the conference and principal of Queen’s College, Yaba, Dr. (Mrs.) Lamin Amodu, praised NICON Insurance for the prompt payment of the claims, which she said, has ensured that the bereaved students can complete their secondary education.
According to her, the payment of the claims has renewed the confidence of the association in the company and urged all principals to cooperate with NICON in the implementation of the Student Welfare Insurance Scheme (SWIS).
SWIS, which is an innovation from the stable of NICON Insurance Limited, ensures that students of Unity Colleges can complete their education in case their named sponsors die suddenly or is unable to work due to permanent disability arising from accident.
According to the policy contract, NICON will pay the fees and upkeep of such students if the unexpected happens during the school session. The company also pays medical benefits of the student involved in an accident during the session.
The Chief Marketing Officer of NICON Insurance Ltd, Samson Davies, said the company is concerned about the future of students especially when their sponsors are no longer able to pay their fees.
He added that the company is updating its database in order to enrol the students involved in all the 140 Unity Schools, so as to be able to meet its obligations to policy holders within the shortest possible time.