FlexiSave Plan

FlexiSaveThis policy provides policyholders with an avenue for medium to long term savings and a lump sum benefit at the end of the selected duration.

Life Cover

  • In case of death during the duration of the policy, there is a guaranteed funeral expense benefit payable to the beneficiary
  • This guaranteed funeral expense benefit is equal to 10% of total premium payable during the duration of the policy subject to a minimum of N100,000 and a maximum of N500,000
  • Accidental Death Benefit: 200% of the total premium paid is payable for the entire period of cover, subject to a maximum limit of N500,000
  • Minimum monthly premium of N10,000
  • Maximum age at maturity: 65 years
  • Minimum policy term: 5 years
  • Maximum policy term: 20 years
  • Premium payment mode: Monthly/Quarterly/Half Yearly/Annually/Single Premium
  • Provide tax free lump sum at the end of the selected policy duration
  • Grace Period: There is a grace period of 30 days for payment of premium
  • A risk premium would be deducted from your regular contribution to provide for your life cover

Maturity Benefit:

At maturity, you will receive full refund of investment premiums and accrued interest on your contribution

Please do not pay cash to/through our Financial Advisor or staff.

Surrender Value:

Your policy can be surrendered for cash if it has been in force and premium has been paid in full. The amount payable shall be subject to a surrender charge.

Eligibility Criteria:

Minimum age at entry: 18 years
Maximum age at entry: 60 years

Money Back Guarantee:

The policy holder has the right to cancel the policy within 30 days of commencement and receive all premiums paid provided that no benefit has yet been paid or claimed.

Please do not pay cash to/through our Financial Advisor or staff.

Premium can be paid through the following channels:

  • Complete a direct debit form
  • Complete a standing instruction form with your bank
  • Electronic transfer from your account to our account
  • Deposit into our bank account
  • Please include your name and policy number on all payments

Please do not pay cash to/through our Financial Advisor or staff.

Maturity Benefit:

  • Complete a maturity/liquidation form
  • Send the duly completed form to any of our sales outlet/office nearest to you, our head office or insuranceinfo@fbninsuance.com

In the event of the death of the policyholder, please take the following steps:

  • Lodge a formal request by walking into any of our outlets or by sending an email to insuranceinfo@fbninsurance.com
  • Submit copies of the following documents: (1) Last attending Doctor’s report (2) Death certificate from National Population Commission (3) Federal Road Safety Corps report or Police report if death is as a result
    of accident (4) Valid ID card of beneficiaries (5)Policy Schedule or form (where applicable)
  • Additional documentation may be required

Please do not pay cash to/through our Financial Advisor or staff.

Related Product


This policy is designed for individuals who want to save for various short-term financial goals…

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