Following the launch of Prudential Zenith’s bancassurance business on 21 May 2018, which has enabled customers of Zenith Bank to purchase life insurance products in over 60 branches in Lagos State, the company has launched a suite of new life insurance products.
The new products launched recently include: My Savings Plan and My Family Protection Plan.
According to a statement from the company, ‘My Savings Plan’ was designed to help customers meet their long-term savings needs, while ‘My Family Protection Plan’ provides peace of mind to customers and their loved ones by paying a lump sum on the death of the policyholder.
The new product launches are the latest development following the entry into Nigeria of Prudential Plc, one of the oldest and most capitalised life insurance companies in the world.
Prudential Zenith explained in the statement that it aims to redefine the Nigerian insurance sector by providing a range of affordable life insurance products designed to meet the protection and savings needs of Nigerian consumers, adding that the new products are the first step in enabling Prudential Zenith to become a one stop shop for all insurance solutions.
Prudential Plc, one of the oldest and most strongly capitalised life insurance companies in the world, last year acquired a majority stake in Zenith Life Assurance, to form Prudential Zenith Life.
Alongside its entry into Nigeria, Prudential also formed an exclusive Bancassurance partnership with Zenith Bank in Nigeria and Ghana.
Prudential Zenith underwrites with the support of strong and viable reinsurance companies and brokers to ensure its risk management is always optimal. It also consults with reinsurance companies and brokers on technical issues/alliance.