Lasaco Assurance Plc has presented the total sum of N190 million as death benefits to the beneficiaries of 97 deceased staff of both Lagos State Universal Basic Education and the Ministry of Local Government and Community Affairs.
The public presentation of cheques to the beneficiaries was chaired by the Special Adviser to the Lagos State Governor on Local Government and Community Affairs, Kayode Robert.
The Managing Director of Lasaco Assurance Plc, Mr. Razzaq Abiodun, traced the genesis of the group life scheme for the civil and public servants to the administration of ex Lagos State’s former Governor, Bola Tinubu, who is now the country’s President-Elect.
He confirmed that Lasaco has paid almost N3 billion as death benefits to families of 1,356 deceased staff since 2017 when the public presentation of death benefits commenced on this particular scheme.
Abiodun praised the state government for prompt payment of premiums and noted that there are few state governments committed to insurance on a consistent basis.
He also admonished beneficiaries to arrange personal insurance policies beyond the ones provided by the employers of labour since they have now seen the benefit of insurance.
Earlier, the state governor’s aide, Roberts, yesterday, appreciated Lasaco for consistency in handling the Group Life Scheme over the years without any hitches.
While emphasizing the benefits of continuity in governance, he noted that succeeding administrations have maintained the legacy of a good welfare package for the living and the dead that His Excellency, Asiwaju Bola Ahmed started.
The Permanent Secretary, Lagos State Ministry of Local Government and Community Affairs thanked Lasaco and Haggai Insurance Brokers for ensuring that families of the deceased staff are guided on documentation required for the smooth administration of the scheme over the years.
The Chairman of SUBEB in the state, Wahab Alawiye-King, who was ably represented by the Director, Pension for the board, advised the beneficiaries to judiciously utilize the death benefits.