General
Why Our Endowment Life Insurance Policy is Different From Others—AXA Mansard
In this interview, the Group Head of Life Business at AXA Mansard, Ms Abisola Nwoboshi, discussed the latest insurance package from the company.
AXA Mansard recently launched the Endowment policy, can you tell us more about the product?
Again, the Endowment policy is another testimony of our commitment to our customers. Over the years, we have found that people are averse to insurance because they think it takes from them without giving back when they are alive.
However, we know that life insurance can make a huge difference in the event of the loss of a loved one.
Consequently, we went back to our drawing board and created this policy called Endowment, which gives the benefit of target savings and life assurance in one plan.
We designed a policy that can be likened to eating your cake and having it because we know that both saving for tomorrow and having life insurance are important to our customers.
Our Endowment plan is a two-in-one policy that provides you with life insurance coverage, helps you save money regularly and pays out a lump sum when your policy term ends. It also offers a death benefit in the event of demise during the policy period.
Ultimately, if you have a goal you would like to save towards, this policy allows you to save, and if you want financial protection for your loved ones as well in case of death, you don’t need a separate plan.
How is this policy different from other life insurance policies in the market today?
This policy is designed with your needs in mind, offering a blend of life insurance and a savings plan. Traditional life insurance often only pays out if death happens to you, which can feel limiting. Our Endowment policy is different because it ensures you receive the full sum assured at the end of the term, even if you’re still alive and well.
We wanted to create a policy that offers peace of mind no matter what. With this policy, you get a guaranteed return. Whether it’s providing a death benefit for your loved ones or receiving an endowment payout yourself, you’re assured of getting something back if the premiums are paid.
We also understand that flexibility is important. That’s why our policy allows you to adjust the premium payments, policy duration, and benefits to fit your unique needs. We curated the endowment policy with the aim of giving you the security and adaptability you deserve, making sure it truly works for you in various life situations.
AXA Mansard is known for its innovation in policy development, but more important is its deep interest in ensuring it solves problems for customers; can you tell us about the gap AXA is bridging with this new product?
Great question. We saw a need to encourage disciplined long-term savings and provide financial security. This policy addresses both by offering a structured savings plan and ensuring that there’s a guaranteed sum for your loved ones in case of an untimely death. This way, we help cushion the impact of losing a provider, which is the primary goal of life assurance.
There are two variants of this product; can you tell us more about it and who should be taking what?
Absolutely! We’ve designed two variants to fit different needs: the AXA Endowment Plan and the AXA Anticipated Endowment Plan. Both plans are there to support you and your loved ones, but they cater to different financial goals.
The AXA Endowment Plan is quite straightforward. It offers terms of 3, 5, 10, and 15 years, with a lump sum payout at the end of the policy term. It’s a great option if you prefer to receive all your benefits at once after a set period.
On the other hand, the AXA Anticipated Endowment Plan provides more flexibility with payouts. It spans 6, 9, 12, and 18 years, and gives you payouts at intervals: 20% after one-third of the term, 30% after two-thirds, and the remaining 50% at the end. This can be helpful if you have different financial goals along the way or need access to funds at various stages.
Ultimately, the choice depends on what variant works best for you. If you’re looking for a single lump sum at the end of your savings period, the Endowment Plan could be ideal. But if you prefer getting payouts at different times to meet various needs, the Anticipated Endowment Plan might be the better fit. We created these options to make sure you have the flexibility to choose what suits your life best.”
A lot of people would rather save for a future date, than buy a life insurance plan; why do you think this notion is growing and how can we further emphasize the importance of life insurance in Nigeria?
People often hesitate because thinking about death is uncomfortable. It’s natural to focus on positive goals and saving for the future. However, it’s also essential to ensure that your loved ones are protected if something unexpected happens. Life insurance is about mitigating the financial impact of death, making sure that dependents can continue without severe financial strain. Our goal is to make people see that both savings, and life insurance are crucial parts of a solid financial plan.
As you know, lack of information is still an issue with insurance in Nigeria; can you share with us how the endowment policy works?
I wouldn’t say lack of information but more around trust and understanding. Many people worry that they won’t get anything back if the insured risk doesn’t happen. The question of “What happens if that risk does not occur? Do I get anything at all? What of all the money I’ve contributed over the years?” Now this is where would like to pacify our customers.
The Endowment Policy guarantees a benefit whether you survive the policy term or not. This assurance helps our customers feel confident that their money is well-spent and that they’re making a smart financial decision.
*People also think that buying an insurance policy like endowment policy can be so tedious and they can just do things by themselves on their own term. How are you addressing the buying process with your digital capabilities at AXA?
We’ve put in a lot of effort to make the buying process as easy as possible. You can purchase the policy online through our website at www.axamansard.com/insurance/life/endowment-plan/. If you prefer in-person assistance, our welcome centres across Nigeria are available, and our sales advisors are ready to help. Our call centre also provides real-time support. We’re committed to making the experience smooth and convenient for everyone!
How is a policy like an endowment policy addressing the notion that it’s only rich people who take Life Insurance?
This was one of the major considerations in setting up this policy. The idea is to get everyone on board, no matter your income level. Would you believe that it is designed to be accessible to everyone, regardless of what they earn? Premiums can be as low as N5,000 monthly, and the benefits range from 1 million to 200 million naira. We want to ensure that everyone, no matter their financial status, can afford and benefit from life insurance.
How is the Endowment Policy different from the Life Saving insurance and can one person hold the two policies at the same time?
Oh, yes, one person can have both policies. The Endowment Policy pays benefits on death or survival, whereas savings-linked Life insurance accrues interest and pays out at the end of the policy term or upon death. They complement each other well, providing comprehensive financial security.
What are the requirements for anyone who wants the policy and how can they sign up?
Signing up is quite straightforward. You need to fill out a short proposal form, provide an ID card, and make the payment. The policy is then yours! The minimum age to sign up is 18, and the maximum is 64 for the Anticipated Endowment and 67 for the regular Endowment. You can start by visiting our website www.axamansard.com/insurance/life/endowment-plan/ to get an endowment policy today.
By Adedapo Adesanya
Nigeria’s crisis-response bill seeking to establish a single, toll-free, three-digit emergency number for nationwide use passed for second reading in the Senate this week.
Sponsored by Mr Abdulaziz Musa Yar’adua, the proposed legislation aims to replace the country’s chaotic patchwork of emergency lines with a unified code—112—that citizens can dial for police, fire, medical, rescue and other life-threatening situations.
Lawmakers said the reform is urgently needed to address delays, miscommunication and avoidable deaths linked to Nigeria’s fragmented response system amid rising insecurity.
Leading debate, Mr Yar’adua said Nigeria has outgrown the “operational disorder” caused by multiple emergency numbers in Lagos, Abuja, Ogun and other states for ambulance services, police intervention, fire incidents, domestic violence, child abuse and other crises.
He said, “This bill seeks to provide for a nationwide toll-free emergency number that will aid the implementation of a national system of reporting emergencies.
“The presence of multiple emergency numbers in Nigeria has been identified as an impediment to getting accelerated emergency response.”
Mr Yar’adua noted that the reform would bring Nigeria in line with global best practices, citing the United States, United Kingdom and India, countries where a single emergency line has improved coordination, enhanced location tracking and strengthened first responders’ efficiency.
With an estimated 90 per cent of Nigerians owning mobile phones, he said the unified number would significantly widen public access to emergency services.
Under the bill, all calls and text messages would be routed to the nearest public safety answering point or control room.
He urged the Senate to fast-track the bill’s passage, stressing the need for close collaboration with the Nigerian Communications Commission (NCC), relevant agencies and telecom operators to ensure nationwide coverage.
Senator Ali Ndume described the reform as “timely and very, very important,” warning that the absence of a reliable reporting channel has worsened Nigeria’s security vulnerabilities.
“One of the challenges we are having during this heightened insecurity is lack of proper or effective communication with the affected agencies,” Ndume said.
“If we do this, we are enhancing and contributing to solving the security challenges and other related criminalities we are facing,” he added.
Also speaking in support, Senator Mohammed Tahir Monguno said a centralised emergency number would remove barriers to citizen reporting and strengthen public involvement in security management.
He said, “Our security community is always calling on the general public to report what they see.
“There is a need for government to create an avenue where the public can report what they see without any hindrance. The bill would give strength and muscular expression to national calls for vigilance.”
The bill was referred to the Senate Committee on Communications for further legislative work and is expected to be returned for final consideration within four weeks.
By Modupe Gbadeyanka
The former chief of defence staff (CDS), Mr Christopher Musa, has been sworn-in as the new Minister of Defence.
The retired General of the Nigerian Army took the oath of office for his new position on Thursday in Abuja.
The Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, confirmed this development in a post shared on X, formerly Twitter, today.
“General Christopher Musa takes oath of office as Nigeria’s new defence minister,” he wrote on the social media platform this afternoon.
Earlier, President Bola Tinubu thanked the Senate for confirming Mr Musa when he was screened for the post on Wednesday.
“Two days ago, I transmitted the name of General Christopher G. Musa, our immediate past Chief of Defence Staff and a fine gentleman, to the Nigerian Senate for confirmation as the Federal Minister of Defence.
“I want to commend the Nigerian Senate for its expedited confirmation of General Musa yesterday. His appointment comes at a critical juncture in our lives as a Nation,” he also posted on his personal page X on Thursday.
The former military officer is taking over from Mr Badaru Abubakar, who resigned on Sunday on health grounds.
By Adedapo Adesanya
The Special Adviser to President Bola Tinubu on Energy, Mrs Olu Verheijen, says Presidential Directives 41 and 42 have emerged as the most transformative policy tools reshaping Nigeria’s oil and gas investment landscape in more than a decade, by helping eliminate bottlenecks.
Mrs Verheijen made this assertion while speaking at the Practical Nigerian Content Forum 2025, noting that the directives issued by her principal in May 2025, are specifically designed to eliminate rent-seeking, slash project timelines, reduce contracting costs, and restore investor confidence in the Nigerian upstream sector.
“These directives are not just policy documents; they are enforceable commitments to make Nigeria competitive again,” she declared.
She noted that before the directives were issued, Nigeria faced chronic delays in contracting cycles, which discouraged capital inflows and stalled major upstream projects.
“For years, investment stagnated because our processes were too slow and too expensive. Presidential Directives 41 and 42 are removing those bottlenecks once and for all,” she said.
According to her, the directives have already begun to shift investor sentiment, unlocking billions of dollars in new commitments from international oil companies.
“We are seeing unprecedented investment inflows. Shell, Chevron and others are returning with confidence because they can now see credible timelines and competitive project economics,” Verheijen said.
Speaking on the link between streamlined contracting and local content development, she stressed that the directives were crafted to reinforce, not weaken, Nigerian participation.
“Local content is not an obstacle; it is a catalyst. It helps us meet national objectives, contain costs, and deliver projects faster when applied correctly,” she explained.
Mrs Verheijen highlighted that the directives complement the government’s data-driven approach to refining local content requirements while ensuring Nigerian talent and enterprises remain central to new investments.
“Our goal is to empower Nigerian companies with opportunities that are commercially sound and globally competitive,” she said.
She pointed to the current spike in industry activity, over 60 active drilling rigs, as evidence that the directives are driving real operational change.
“We have moved from rhetoric to results. These directives have triggered a new cycle of upstream development,” she said.
The energy expert added that the reforms are critical to achieving Nigeria’s production ambition of 3 million barrels of oil and 10 billion standard cubic feet (bscf) of gas per day by 2030.
“To meet these targets, we need speed, efficiency, and collaboration across the value chain. The directives are the foundation for that,” she noted.
She also linked the directives to Nigeria’s broader regional ambitions, including its leadership role in the African Energy Bank.
“With a $100 million facility now launched, we are ensuring that investment translates into jobs, technology transfer, and long-term value for Nigeria,” she said.
Mrs Verheijen concluded by urging the industry to uphold the spirit and letter of the presidential instructions.
“These directives are a collective responsibility. Government, operators, financiers, and host communities must work together to deliver the Nigeria we envision,” she said. “We remain committed to ensuring Nigeria remains Africa’s premier investment destination,” she said.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism9 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy2 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn