Insurance

Bereaved families of Lagos public servants get reprieve, as insurance pays death benefits

by Modestus Anaesoronye

February 28, 2018 | 12:11 am
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Thirty-two families of bereaved Lagos State public servants has got a reprieve, following a partnership between the State Ministry of Finance and LASACO Insurance Plc, where they received payment of insurance death benefits for their loved relatives who died while in service.

Beneficiaries of the deceased got a total of N85 million as insurance compensation for death of their relatives, which is part of the State government’s welfare package in compliance with the Pension Reform Act to motivate public servants to give their best while in service.

Folasade Adesoye, head of Service (HOS) of Lagos State who speake at the cheque presentation ceremony held for the beneficiaries of deceased members of staff of the state public service in Alausa said:

“The payment of Death Benefits to the families of deceased members of staff is neither a favour nor a largesse, for which we expect special accolades, but it is, instead, the responsibility of the State Government and an obligation that is not only personal to Akinwunmi Ambode, the Governor of Lagos State, but one, which he accords the highest priority.”

Adesoye said the importance that Lagos attaches to the provision of insurance packages among other welfare initiatives, derives mainly from government’s prioritization of its workforce as its most important asset.

“The primary policy objective of the payment of Insurance Death Benefits is, therefore, essentially for the funds to serve as succour for the immediate families, dependents and other beneficiaries of the deceased. It is the hope and expectation of Government that the immediate needs of feeding, clothing, schools fees, house rent, transport, medicals and general family well-being would be substantially addressed (even if not totally) in the period between the demise of the family’s bread winner, the release of his entitlements and the institution of more permanent support structures.”

She appealed to beneficiaries to ensure judicious use of the fund and due diligence as well as proper planning in all the expenditure you may need to make, particularly, in the areas of business and investments.

“Please endevour to seek guidance and professional advice from financial consultants and small business experts before taking decisions which could significantly impact your families, she advised.

Adesoye also commended all stakeholders, particularly the Ministry of Finance, State Treasury Office and LASACO for their part in ensuring the sustenance of best practices towards making life much better and rewarding for the families of deceased members of staff of the State Public Service under the Global Insurance Scheme Policy.

Oladimeji Olona, general manager, life business, LASACO Assurance Plc in his remark commended the Lagos State government for imbibing the culture of insurance, stating that what has happened today is the fulfillment of Lagos State government’s commitment towards improving the welfare of its public servants.

“The biggest thanks here goes to the state governor and the government of Lagos State who ensured that premium for insurance was paid regularly and as at when due. If premium was not paid, we wouldn’t have been here today, Olona stated.

He therefore called on the beneficiaries of the money to make judicious use of it to ensure that children of the bereaved get necessary education that will enable them become responsible members of the society.   

Olufunmilayo Balogun, permanent secretary, Ministry of Finance; Fuyinfun Ogubanke, permanent secretary, Public Service as well as Bamidele Olayide, chairman, Association of Senior Civil Servants in Lagos State, in their remarks consoled the bereaved families, while paying God to comfort them particularly at this time.

They also urged them to make judicious use of the money, avoid risking the money in ventures that will not give the dead joy wherever they are, as believed in African culture.

“This is not the time to send your children abroad, as most what we hear about those places are not always true. Invest the money here in Nigeria, and God will make it prosper, the beneficiaries were advised.

Modestus  Anaesoronye


by Modestus Anaesoronye

February 28, 2018 | 12:11 am
12893  |   93   |   0  |   Start Conversation

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