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From Ighomuaye Lucky, Benin
The board chairman, Prudent Choice Micro Insurance ltd (PCMI), Oyegue Osazee, yesterday, said they would make insurance simple, accessible, affordable and workable for low income earners in Edo State.
He made the vow while answering questions from newsmen in Benin City.
Mr. Oyegue said the organization is the first to have commenced the state wide Micro Insurance Operation in Edo State.
Oyegue said they have developed the products that would foster the emancipation of the financially challenged Edo State residents from the state of financial hopelessness.
The board chairman opined that the economically disadvantaged people in the country are exposed to a lot of risks ranging from death of the breadwinners, permanent disabilities and armed robbery.
He maintained that when these risks are not reduced, it could lead to poverty and even death.
He noted that the organization is licensed to undertake both life and general micro insurance and its products include: Micro loan protection plan-this is a credit linked life assurance scheme designed to pay off a borrower’s outstanding loan in the event of default by death or permanent disability of the borrower.
He said the other is Micro Property Protection Plan, Casualty Mitigation Plan, Easy Savings for tomorrow and Okada and Keke insurance.
He added that the organization has achieved an enviable feat of gaining a state wide license from the National Insurance Commission of Nigeria (NAICOM).
