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  • Moov

    (Third Party)

    X

    MOOV (Third Party)

    It is a simple insurance product which covers the policyholder against legal liability to third parties in the event of death, bodily injury and property damage involving the insured vehicle. Third party insurance is a mandatory requirement for all vehicles on Nigerian roads. It became mandatory through the Motor Vehicle (third party) Insurance Act of 1945.

    Features

    • A flat rate payable annually to insure a vehicle against all third party liabilities (subject to policy conditions)
    • The policy will still operate if you use your vehicle to tow another broken down vehicle provided you're not being paid to do so
    • Simple premium calculations

    Benefits

    • Pays third party property damage (up to a limit of N1million)
    • Pays third party property damage (up to a limit of N1million)
    • Reimbursement of legal fees if policy holder is prosecuted in court over an accident resulting in a valid claim

    To enjoy these benefits?

    • Complete the application form
    • Effect premium payment
    • Observe the terms and conditions outlined in the policy document.

    Documentation

    • Completed proposal form
    • Proof of ownership
    • Vehicle License
    • Acceptable proof of identification

    Exclusions and Limitations

    • Own damage, fire & theft claims are not covered
    • No provision for accidental bodily injury benefits for policyholder/driver
    • Medical expenses for anyone injured in your vehicle are excluded
    • The policy will not pay for bodily injury or damage to the property of any members of your household
    • No cover for accidents happening outside the stated geographical area (Nigeria)
    • Usual exclusions apply to war, nuclear risks and volcanic eruption
    • An excess of 10% of claim amount or N2,000 whichever is greater applies to third party property damage
    • If at the point of making a claim, it is discovered that the vehicle is also insured by other insurance companies,the cost of claim will be shared with the other companies
    • Loss of use or consequential losses

    Switching between policy covers

    Yes you can. With the Moov product suite, it is very easy to switch or migrate between product categories. All you have to do is simply follow the underlisted steps to migrate to your preferred product choice:

    • Identify the Motor product you wish to switch to
    • Request for a product migration form from our sales advisor
    • Complete and submit the migration form indicating your preferred product
    • Pay the additional premium as required
    • Your request will be processed subject to terms and conditions
    • You can begin to enjoy a new product category within 48 hours Is there provision for full or partial refund?

    Refund policy

    The policy is non-refundable

    Cover for non-owner driver

    Yes. Wapic covers the legal liability for loss or damage to someone else's property by any person who is driving, provided that you are fully licensed and operated the vehicle with your permission

    In case of an accident

    • Notify the Police immediately
    • Note the insurance details of the third party involved

  • Moov Plus

    (Fire and Theft)

    X

    Moov Plus (Fire & Theft)

    This is a simple insurance product which covers the policyholder against legal liability to third parties in the event of death, bodily injury and property damage. Beyond these, this policy also covers theft or damage by fire. Under Moov Plus, the cost of repairs and/or outright replacement is also covered. The policy allows you to buy additional features such as personal accident and cover for riots along with the standard features of the product.

    Features

    • Third party property damage (up to N1million)
    • Third party bodily injury & death (Unlimited)
    • Covers fire damage to the insured vehicle
    • Covers theft of the vehicle
    • Covers authorised repair limit (Up to N10,000.00)
    • Includes towing limit (up to N10,000.00)
    • Passenger liability (N75,000 per person and a maximum of N350,000 per vehicle)
    • Policy deductibles/excess applies

    Benefits

    • Covers third party property damage
    • Covers third party bodily injury & death (Unlimited)
    • Covers cost of repairs caused by fire damage
    • Indemnifies in case of theft
    • No-Claim Bonus of 2.5% payable after 2nd year of renewal

    To enjoy these benefits?

    • Complete the application process
    • Effect premium payment
    • Observe the terms and conditions outlined in the policy document

    Documentation

    • Completed proposal form
    • Proof of ownership
    • Vehicle License
    • Acceptable proof of identification
    • Photographs of all sides of the vehicle, including photo showing the License Plate on the vehicle

    Exclusions and Limitations

    • Mechanical or electrical breakdowns
    • Damage to tyres unless motor car is damaged at the same time
    • Any incident which happens whilst the car is being used outside the agreed limitations
    • The first amount of each claim for loss or damage (known as the “excess”), unless you have purchased the 'excess buy back'
    • Loss or damage arising from the vehicle being filled with adulterated fuel
    • Theft of your vehicle, accessories or parts if unattended and left unlocked and / or the keys to the ignition are left with the vehicle
    • Loss of or damage to the vehicle whilst the driver is under the influence of alcohol or drugs
    • Wapic will pay the lower of the current market value at the time of the incident or the value noted in your schedule
    • Loss of use or consequential losses
    • If at the point of making a claim, it is discovered that the vehicle is also insured by other insurance companies, the cost of claim will be shared with the other insurers

    Switching between policy covers

    Yes you can. With the Moov product suite, it is very easy to switch or migrate between product categories. All you have to do is simply follow the underlisted steps to migrate to your preferred product choice:

    • Identify the Motor product you wish to switch to
    • Request for a product migration form from our sales advisor
    • Complete and submit the migration form indicating your preferred product
    • Pay the additional premium as required Your request will be processed subject to terms and conditions
    • You can begin to enjoy a new product category within 48 hours Is there provision for full or partial refund?

    Refund policy

    The policy is non-refundable

    Cover for non-owner driver

    Yes. Wapic covers the legal liability for loss or damage to someone else's property by any person who is driving, provided the y are fully licensed and operated the vehicle with your permission

    In case of an accident

    • Notify the Police immediately
    • Note the insurance details of the third party involved

  • Moov Prestige

    (Comprehensive)

    X

    Moov Prestige (Private Comprehensive)

    This is an insurance product that pays for damages to your vehicle as a result of theft, accident or fire. It also covers third party damages for which you are liable. With this policy, the cost of replacing or repairing your vehicle is covered no matter who is at fault. If needed, you can buy additional features such as excess buy-back or increased third party along with the standard features of the product.

    Features

    • Third party property damage (up to N1million)
    • Third party bodily injury and death (Unlimited)
    • Covers loss from fire damage to the insured vehicle
    • Covers theft of the vehicle
    • Covers accidental damage to insured's vehicle (up to total value of vehicle)
    • Includes towing limit (up to N10,000.00)
    • Personal accident benefits for the insured (up to a limit of N20,000)
    • Loss of personal effects (up to a limit of N10,000)
    • Authorised repair limit (up to N40,000)
    • Free tracker for vehicle valued N4million and above
    • Passenger liability (N75,000 per person and a maximum of N350,000 per vehicle)
    • Policy deductibles/excess applies

    Benefits

    • Covers third party property damage
    • Covers third party bodily injury & death (Unlimited)
    • Covers cost of repairs caused by fire damage
    • Covers cost of repairs for own damage
    • Indemnifies in case of theft
    • Nil depreciation on total write off for a brand new vehicle of less than six months
    • No-Claim Bonus of 2.5% payable after 2nd year of renewal

    To enjoy these benefits?

    • Complete the application process
    • Effect premium payment
    • Observe the terms and conditions outlined in the Policy Document

    Documentation

    • Completed proposal form
    • Proof of ownership
    • Vehicle License
    • Acceptable proof of identification
    • Photographs of all sides of the vehicle, including photo showing the License Plate on the vehicle

    Exclusions and Limitations

    • Mechanical or electrical breakdowns
    • Damage to tyres unless motor car is damaged at the same time
    • Any incident which happens whilst the car is being used outside the agreed limitations
    • The first amount of each claim for loss or damage (known as the “excess”), unless you have purchased the 'excess buy back'
    • Loss or damage arising from the vehicle being filled with adulterated fuel
    • Theft of your vehicle, accessories or parts if unattended and left unlocked and / or the keys to the ignition are left with the vehicle
    • Loss of or damage to the vehicle whilst the driver is under the influence of alcohol or drugs
    • Wapic will pay the lower of the current market value at the time of the incident or the value noted in your schedule
    • Loss of use or consequential losses
    • If at the point of making a claim, it is discovered that the vehicle is also insured by other insurance companies, the cost of claim will be shared with the other insurers

    Switching between policy covers

    Yes you can. With the Moov product suite, it is very easy to switch or migrate between product categories. All you have to do is simply follow the underlisted steps to migrate to your preferred product choice:

    • Identify the Motor product you wish to switch to
    • Request for a product migration form from our sales advisor
    • Complete and submit the migration form indicating your preferred product
    • Pay the additional premium as required
    • Your request will be processed subject to terms and conditions
    • You can begin to enjoy a new product category within 48 hours Is there provision for full or partial refund?

    Refund policy

    The policy is non-refundable

    Cover for non-owner driver

    Yes. Wapic covers the legal liability for loss or damage to someone else's property by any person who is driving, provided the y are fully licensed and operated the vehicle with your permission

    In case of an accident

    • Notify the Police immediately
    • Note the insurance details of the third party involved

  • Moov Luxury

    (Comprehensive)

    X

    MOOV Luxury

    This is an insurance product that pays for damages to your vehicle as a result of theft, accident or fire. It covers third party damages for which you are liable. With this policy, the cost of replacing or repairing your vehicle is covered no matter who is at fault. If needed, you can buy additional features such as increased third party along with the standard features of the product.

    Features

    • Third party property damage (up to N1million)
    • Third party bodily injury and death (Unlimited)
    • Covers loss from fire damage to the insured vehicle
    • Covers theft of the vehicle
    • Covers accidental damage to insured's vehicle
    • No policy deductible / Excess applies Includes towing limit (up to N10,000.00)
    • Personal accident benefits for the insured (up to a limit of N100,000)
    • Loss of personal effects (Up to a limit of N30,000.00)
    • Riot, strike and civil commotion (RSCC)
    • Authorised repair limit (up to N50,000)
    • Free tracker if vehicle value is N3million and above Passenger liability (N75,000 per person and a maximum of N350,000 per vehicle)
    • Increased third party property damage (TTPD) up to N2million Own damage caused by flood

    Benefits

    • Covers third party property damage
    • Covers third party bodily injury and death (Unlimited)
    • Covers cost of repairs caused by fire damage
    • Covers cost of repairs for own damage Indemnifies you in case vehicle is stolen
    • Nil depreciation on total write off for a brand new vehicle of

    To enjoy these benefits?

    • Complete the application process
    • Effect premium payment
    • Observe the terms and conditions outlined in the Policy Document

    Documentation

    • Completed proposal form
    • Proof of ownership Vehicle License
    • Acceptable proof of identification
    • Photographs of all sides of the vehicle, including photo showing the License Plate on the vehicle

    Exclusion and Limitations

    • Mechanical or electrical breakdowns
    • Damage to tyres unless motor car is damaged at the same time
    • Any incident which happens whilst the car is being used outside the agreed limitations
    • Loss or damage arising from the vehicle being filled with the adulterated fuel
    • Theft of your vehicle, accessories or parts if unattended and left unlocked and / or the keys to the ignition are left with the vehicle
    • Loss of or damage to the vehicle whilst the driver is under the influence of alcohol or drugs
    • Wapic will pay the lower of the current market value at the time of the incident or the value noted in your schedule
    • Loss of use or consequential losses
    • If at the point of making a claim, it is discovered that the vehicle is also insured by other insurance companies, the cost of claim will be shared with the other insurers

  • Mortgage Protection

    X

    Mortgage Protection

    It indemnifies the lender to the tune of the outstanding loan in the event of the borrower’s death. This eliminates the burden of loan repayment to the bereaved.

    Features

    • Insures the life of an individual for a specific period equivalent to the mortgage period
    • Insures against death of the mortgagee but cover can be extended to include critical illness, permanent disability and unemployment
    • Single or joint cover available

    Benefits

    • Pays the balance of the loan taken directly to the lender
    • Family of insured is not faced with sudden eviction
    • It also ensures that credit obligations will not be an added burden to the family in the event that the borrower (also being the bread winner) dies prematurely

    Claims documentation requirements

    • Medical Certificate of cause of death
    • Death Certificate
    • Burial Certificate (if any)
    • Coroner's report (if death is by mysterious circumstances)
    • Police Report (if death is by road traffic accident)

    Documentation

    • Completed proposal form
    • Passport photo
    • Proof of age and address
    • Details of mortgage
    • Medical questionnaire or medical examination if age or sum assured are outside free medical limit

  • Keyman Assurance

    X

    Keyman Assurance

    Keyman Protection Plan allows organizations to insure their key personnel for business continuity purposes.

    Features

    • It is purchased by a company on the life of a key person within the organization to protect the company against loss of profit or cost of replacing the key person in the event of death 
    • The aim is to compensate the business for losses and facilitate business continuity
    • It replaces profit that ordinarily would have been lost
    • It provides funds for meeting the cost of replacing/training a successor
    • A key person could be anyone directly associated with the business whose demise could cause financial strain to the business

    Benefits

    • Pays out benefits to the named beneficiary (ies) upon death of the insured
    • Creates a financial cushion for loved ones when death occurs
    • Could be used as collateral for a loan (credit life insurance)
    • It is neither expensive nor complicated
    • Cover is flexible; simply choose the policy you want based on your situation

    Claims documentation requirements

    • Medical Certificate of cause of death
    • Death Certificate (Optional)
    • Burial Certificate (if any)
    • Coroner's report (if death is by mysterious circumstances)
    • Police Report (if death is by accident)

    Documentation

    • Completed proposal form
    • Proof of age and identity
    • Copy of the loan agreement
    • International passport, Driver’s License, voter’s card or National ID
    • Utility bill (PHCN or LAWMA bill)

  • Wapic

    Multi-protection Plan

    X

    Multiprotection Plan

    This is designed to protect loved ones in the event of the demise of the policyholder & financial loss by the policyholder during permanent disability and payment of medical expense.It provides funds for meeting the cost of replacing/training a successor

    Features

    • The sum assured is predetermined.
    • The premium payment is also predetermined.
    • The minimum policy duration is for 1year.
    • The cover period is for 1year.
    • The minimum and maximum age at entry is 18 and 64 years respectively, while the maximum exit age is 65 years.
    • The maximum sum assured is 10,000,000.00, while the minimum sum assured is 100,000.
    • There is also a demise benefit.
    • There is a permanent disability cover (optional at an additional premium)
    • There is medical expense cover (optional at an additional premium)
    • The premium payment is predetermined.
    • The sum assured is payable at demise, permanent disability and medical expense
    • The premium is annually payable.
    • Medical examination is required, for sum assured above N20,000,000.00
    • Hospitalization Benefit

    Benefits

    • There is also a demise benefit.
    • There is a permanent disability cover (optional at an additional premium)
    • There is medical expense cover (optional at an additional premium)
    • The sum assured is payable at demise, permanent disability and medical expense
    • Hospitalization Benefit

    To enjoy these benefits?

    • Complete and submit the proposal form together with your passport photograph, proof of age, means of identification and utility bill
    • Pay the applicable premium as and when due
    • Read and observe the terms and conditions of the policy document

    Documentation

    • Completed proposal form
    • Proof of age and identity
    • Copy of the loan agreement
    • International passport, Driver’s License, voter’s card or National ID
    • Utility bill (PHCN or LAWMA bill)

  • Smart Life Plan

    X

    Smart Life

    Wapic Smart Life Plan is an insurance solution that provides you the opportunity to save funds towards specific goals with an embedded insurance cover

    Features

    • Minimum annual contribution: N120,000
    • Minimum duration: 3 years
    • Entry age: 18-62 years
    • Part withdrawal: Up to 50% of accumulated principal after 2 years
    • Premium payment frequency: Flexible
    • Return on investment: Index linked Features
    • Life cover: 20 times annual contribution, subject to a minimum of N100,000 & maximum of N10,000,000

    Benefits

    • Enjoy life cover while saving toward financial goal
    • Limited underwriting for your convenience
    • Flexible but high return on investment
    • A vehicle toward achieving financial set goals
    • Security for obtaining loan facility from Financial institutions
    • Succour in the event of demise or permanent disability
    • Premiums are tax deductible

    To enjoy these benefits?

    • Complete the application form
    • Effect premium payment
    • Provide the required documentation
    • Observe the terms and conditions outlined in the policy document.

    Documentation

    • Recent passport photograph
    • Means of identification: Nigerian Driver's License, National ID card, International Passport, Voters Registration Card
    • Evidence of utility bill payment such as PHCN, Water Rates etc

  • Smart Life+ Plan

    X

    Smart Life+ Plan

    Wapic Smart Life+ Plan is an insurance solution that provides you the opportunity of systematically accumulating funds toward meeting short-term obligations and emergencies with an embedded free life cover. Yes, FREE life cover!

    Features

    • Minimum annual contribution: N60,000
    • Minimum duration: 1 year
    • Entry age: 18-54 years
    • Part withdrawal: up to 85% of accumulated principal; however, interest will be affected
    • Premium payment frequency: Flexible
    • Return on investment: Index linked

    Benefits

    • Enjoy FREE life cover of up to N2 million while saving toward financial goal
    • No underwriting for your convenience
    • Flexible but high return on investment
    • Vehicle toward achieving short term financial goals and needs
    • Succour in the event of demise
    • Premiums are tax deductible

    To enjoy these benefits?

    • Complete the application form
    • Effect premium payment
    • Provide the required documentation
    • Observe the terms and conditions outlined in the policy document.

    Documentation

    • Recent passport photograph
    • Means of identification: Nigerian Driver's License, National ID card, International Passport, Voters Registration Card
    • Evidence of utility bill payment such as PHCN, Water Rates etc

  • Smart Senior Plan

    X

    Smart Senior Plan

    Wapic Smart Seniors Plan is an insurance solution that provides you the opportunity to save funds toward a retirement with an embedded insurance cover.

    Features

    • Wapic Smart Seniors Plan is an insurance solution that provides you the opportunity to save funds toward a retirement with an embedded
    • Insurance cover.
    • Minimum annual contribution: N60,000
    • Minimum duration: 5 years
    • Entry age: 18-60 years
    • Part withdrawal: up to 25% of accumulated principal after 2 years
    • Premium payment frequency: Flexible
    • Life cover: 20 times annual contribution
    • Subject to a minimum of N100,000 & maximum of N20,000,000
    • Medical examination: not required

    Benefits

    • No underwriting for your convenience
    • Return on Investment: Flexible but high return
    • Critical Illness Benefit: FREE up to 25% of sum assured (if policy duration is over 5 years and there is no withdrawal in the first 5 years)
    • Permanent Disability Benefit: 200% of the sum assured
    • In the event of demise, the sum assured together with the account balance
    • Succour in the event of demise, permanent
    • Disability or critical illness
    • Premiums are tax deductible

    To enjoy these benefits?

    • Complete the application form
    • Effect premium payment
    • Provide the required documentation
    • Observe the terms and conditions outlined in the policy document.

    Documentation

    • Recent passport photograph
    • Means of identification: Nigerian Driver's License, National ID card, International Passport, Voters Registration Card
    • Evidence of utility bill payment such as PHCN, Water Rates etc

  • Smart Scholar Plan

    X

    Smart Scholar Plan

    How excited will your child be knowing that he/she has an education plan written in his/ her name! Wapic Smart Scholars Plan is an insurance solution that provides you the opportunity to save funds toward financing your child’s education with an embedded insurance protection against the risks of demise or permanent disability on the lives of either or both parents. The policy is written in the name of your child, as the policy owner, and also provides a medical expense cover for the child, as a result of accident while in school. What’s more – There is a cash benefit for your child should he/she be best in class!

    Features

    • Minimum annual contribution: N60,000
    • Minimum duration: 5 years
    • Entry age: 18-60 years
    • Part withdrawal: Up to 25% of accumulated principal after 2 years
    • Premium payment frequency: flexible
    • Life cover: 200% of annual contribution, subject to a maximum of N5 million
    • Medical examination: Subject to total sum at risk

    Benefits

    • Return on Investment: flexible but high return
    • Accidental Medical expenses (child): up to N50,000 payable once in a year
    • Academic Award (best in Class): Up to 10% of your annual contribution, subject to a maximum of N20,000 (payable once)
    • Premium Waiver: Subject to no outstanding premium at the time of demise
    • Maturity benefit: Applied toward payment of the child’s school fees
    • Family Income benefit: 10% of life cover
    • Permanent Disability benefit: 200% of the sum assured

    To enjoy these benefits?

    • Complete the application form
    • Effect premium payment
    • Provide the required documentation
    • Observe the terms and conditions outlined in the policy document.

    Documentation

    • Recent passport photograph
    • Means of identification: Nigerian Driver's License, National ID card, International Passport, Voters Registration Card
    • Evidence of utility bill payment such as PHCN, Water Rates etc

  • Smart Wealth Plan

    X

    Smart Wealth Plan

    Wapic Smart Wealth Plan is an insurance solution that provides you the opportunity of investment and embedded insurance protection against the risks of demise. The insurance premium is deducted within the period of investment but insurance cover is for life! Yes, cover for life, even when you have taken the maturity proceed!!

    Features

    • Minimum annual contribution: N5 million
    • Minimum duration: 5 years
    • Entry age: 20-60 years
    • Part withdrawal: up to 50% of accumulated principal after 2 years
    • Premium payment frequency: quarterly, half-yearly or annually; up to ages 45, 50, 55, or 65
    • Life cover: 20 times annual contribution, subject to a minimum of N2.5 million and a maximum of N20 million
    • Medical examination: not required

    Benefits

    • Enjoy life cover beyond duration of the policy
    • Return on investment: Flexible but high (linked to FGN bonds)
    • Critical Illness Benefit: Up to 70% of sum assured; balance payable in the event of demise
    • Life Cover: Payable in the event of demise
    • Succour in the event of demise
    • Premiums are tax deductible

    To enjoy these benefits?

    • Complete the application form
    • Effect premium payment
    • Provide the required documentation
    • Observe the terms and conditions outlined in the policy document.

    Documentation

    • Recent passport photograph
    • Means of identification: Nigerian Driver's License, National ID card, International Passport, Voters Registration Card
    • Evidence of utility bill payment such as PHCN, Water Rates etc

  • Yacht

    X

    Yacht (Pleasure Boat) Insurance

    This provides indemnity to the owners and/or charterers of a ship / vessel, against loss or damage to the subject matter of insurance (i.e. the ship / vessel) as a result of maritime perils.

    Features

    • Coverage available for a wide range of risks, including brown water vessels.
    • Flexible programs, tailored for client needs.
    • Covers negligence of masters, officers, crew or pilots( though they are not to be considered as owners).
    • Covers protection and indemnity
    • It provides cover for both the vessel and Machinery.
    • It cover Insured liabilities to third parties

    Benefits

    • Covers loss or damage due to perils of the seas, rivers, lakes or other navigable waters.
    • Covers fire and explosion (including lightning for Institute Time Clauses Hulls)
    • Covers violent theft by persons from outside the vessels
    • Covers accident in loading, discharging or shifting cargo or fuel.
    • Underwriting, claims, recovery, loss control and risk management services provided by marine specialists.
    • It could be on New for Old arrangement.

    Claims documentation requirements

    • Repair estimate from a certified mechanic.
    • Clear photographs of the damaged vehicle
    • Police report in the event of injury or death of a third party

    Documentation

    • Completed proposal form
    • Certificate of incorporation
    • Certificate of seaworthiness
    • Most recent survey report

  • Marine

    X

    MARINE

    Marine Cargo Insurance provides indemnity for loss or damage to imported goods being conveyed by sea or air.

    Features

    • Ship being stranded, grounded, sunk or capsized
    • overturning or derailment of other land transport
    • collision of the ship or other form of transport with any external object
    • General Average & Jettison

    Benefits

    • Protects you from footing the bill of loss/damage of cargo
    • Provides unlimited cover for third party property loss
    • Cover is warehouse-to-warehouse; from the time the goods leave the seller to the place of storage at the final destination
    • Wapic offers an annual open cargo policy which automatically insures your shipments on set terms, conditions and rate without the need to contact us each time.

    To enjoy these benefits?

    • Original policy or certificate of insurance
    • Original or copy shipping invoice, together with shipping specification and/or weight notes.
    • Original Bill of Laden and/or other contract of carriage
    • Survey report or other documentary evidence to show the extent of the loss or damage
    • Landing account and weight notes at final destination.
    • Discrepancy certificate
    • Correspondence exchanged with the Carriers and other parties regarding their liability for the loss or damage

    Documentation

    • Copy of Form M
    • Country of origin / destination
    • Proforma Invoice
    • KYC Documentation

  • Home Owners

    X

    Home Owners Insurance

    Home Insurance is a comprehensive insurance that covers damage to a building occasioned by flood, fire and fallen trees as well as injury to visitors to the property. The product also covers the contents of a home such as furniture & fittings, jewelleries, refrigerator and so on.

    Features

    • Covers the loss of rent or the additional cost of alternative accommodation in case of fire
    • Covers replacement of stolen items (based on inventory provided)
    • Covers contents while temporarily removed for cleaning ,renovating, repairs or similar purpose.
    • Spouse is automatically considered an ‘Insured’ under this policy
    • Compensation for damage due to bursting or overflowing of water tanks and pipes

    Benefits

    • Indemnifies in the event of damage to the structures of the house.
    • Indemnifies in the event of loss due to burglary (theft) or fire
    • The policy will also cover you against liability for accidental injury to third parties or damage to their property that occurs on your premises
    • Can be extended to cover larceny (Theft not involving violence or forcible entry/exit is covered)

    Claims documentation requirements

    • Witness statement / Security report (if any)
    • Purchase receipts / Invoice of stolen items
    • Quotation for the repairs of damage parts from a certified building contractor
    • Police Report (this is applicable if the claim is due to Burglary)
    • Fire brigade report (for fire claims) or Wapic appointed adjuster
    • Photographs of damaged properties or premises

    Documentation

    • Completed proposal form
    • Utility bill/Evidence of address
    • Record of inventories
    • Acceptable means of identification

  • House Holders

    X

    House Holders Insurance

    This policy is designed to meet the needs of the insured who do not own their home (and therefore do not require building insurance) but still desire protection for their belongings.

    Features

    • Protects against damage caused by burst pipes, flood and earthquakes
    • Provides financial compensation for items lost due to theft or fire
    • Covers public liability
    • Limited Compensation for Death of the Insured due to fire or violent burglary

    Benefits

    • Covers the loss of or damage to the landlord’s fixtures and fittings
    • Covers items stolen during break-ins
    • Legal costs incurred under public liability are also covered
    • Covers losses arising from fire damage or burglary
    • Can be extended to cover larceny (Theft not involving violence or forcible entry/exit is covered)

    Claims documentation requirements

    • Witness statement / Security report (if any)
    • Purchase receipts / Invoice of stolen items
    • Police Report (this is applicable if the claim is due to Burglary)
    • Fire Service report (for fire claims or Wapic appointed adjusters report.
    • Photographs of damaged properties or premises

    Documentation

    • Completed Proposal Form
    • Utility bill/Evidence of address
    • Record of Inventories
    • Acceptable means of Identification

  • Term Assurance

    X

    Term Life

    Term life assurance is designed to protect the livelihood of the insured’s dependents in the event of his/her demise within the period of the cover.

    Features

    • Insures the life of an individual for a specific period (term)
    • No benefit is paid if the insured survives the term
    • Premium can be paid up-front (single payment) or annually of for each year of the policy term
    • For coverage amounts below N5m Wapic offers a simplified issue term life assurance, with no medical exam and same-day approval

    Benefits

    • Pays out a benefit to the named beneficiary(ies) upon death of the insured
    • Creates a financial cushion for loved ones when death occurs
    • Could be used as collateral for a loan (credit life insurance)
    • It is neither expensive nor complicated
    • Cover is flexible; simply choose the policy you want based on your situation

    Claims documentation requirements

    • Medical Certificate of Cause of Death
    • Death Certificate
    • Burial Certificate (if any)
    • Coroner's report (if death is by mysterious circumstances)
    • Police Report (if death is by road traffic accident)

    Documentation

    • Completed proposal form
    • Passport photo
    • Acceptable evidence of residence
    • Acceptable means of Identification

  • Whole Life

    X

    Whole Life

    It is a life insurance policy which covers the assured for the whole of his/her life. Simply put, if the premiums have been duly paid as and when due then the sum assured is guaranteed to be paid regardless of when death occurs. It comes in two forms: ordinary whole life and limited premium payment whole life. For an ordinary whole life policy, the premiums are payable periodically till the death of the life assured; whereas for the limited premium payment option the premiums are payable till a defined age (such as 45, 50, 55, 60 or 65)

    Features

    • Premium payment pattern is flexible and can be structured according to the needs of the policyholder
    • A policyholder is entitled to a refund on part of the premium paid in the event of a Surrender
    • Flexible premium payment options (weekly, monthly, quarterly, semi-annual, annual etc.)
    • Premiums and benefits are tax deductible
    • Medical examination may be required (if sum assured exceeds a pre-defined amount)

    Benefits

    • Lump sum benefit to the family following the demise of the policyholder
    • Sum assured is guaranteed to be paid provided premiums are not outstanding
    • Cover can be terminated (or surrendered) and part of the accumulated premiums will be refunded
    • The sum assured can be reviewed upwards according to changes in lifestyle

    Claims documentation requirements

    • Medical Certificate of cause of death
    • Death Certificate (Optional)
    • Burial Certificate (if any)
    • Coroner's report (if death is by mysterious circumstances)
    • Police Report (if death is by accident)

    Documentation

    • Completed proposal form
    • Passport photo
    • Acceptable means of ID
    • Acceptable evidence of residence