How Life Insurance Can Help Provide The Best Education for your Children

Posted on: 8th Jul 2019

Formal education may not be the only way to success, but decades of statistics show that it is still your best bet. Therefore, it is only natural for every parent to desire the best form of education for their children (or wards). However, the reality is that a good education anywhere in the world costs money. Hence, the financial might of a parent(s) is a key contributor when it comes to providing the best education money can buy. This article will explore how life insurance help to mitigate this constraint.

Depending on the school, tuition fees can number from hundreds of thousands to millions. Education may be a necessity for all but the providers of said education also see this sector as a business and hence the usually high-placed fees. In addition, good schools are usually able to match their high fees in value and this doesn’t just come in the quantity or quality of knowledge imparted on the child. These schools also tend to have a solid reputation which can prove to be beneficial when your children eventually graduate and are in need of good jobs to match their good education.

It is not at all uncommon to see or hear parents who wish to award their children with a better education than theirs but as mentioned earlier, this costs money. So how can life insurance help to provide the best education for your children?

Life Insurance and Education.
There is the ‘’how’’ life insurance can be used to secure a good education for your kids, but it is just as pertinent to know the ‘’why’’. We have talked about the need to provide a good education for your children and we have also discussed what it would take – money. But the reason why life insurance is a panacea is simply because of the inevitable. It is a sad truth but it isn’t something we can (and shouldn’t) brush off. We all want to be alive and see our children graduate from the best schools but we cannot rule out the fact that it is possible that you may not be around to witness it. Therefore, without a life insurance policy, all the money you saved up or plan to save up is going to be far from being secure. What this means automatically, is that your children stand a good chance of losing their education should something happen to you.

The Children Education Plan.
The African Alliance Children Education Plan is easily one of the simplest and most straightforward ways to safeguard the education of your children. The big bang about this plan is the fact that not only can you safely plan for your child’s education (by putting money aside in form of premiums), but upon maturity (and while you are still alive) you get paid the accrued bonuses plus the total sum assured. However, in the event of your passing, while the policy is still valid, the beneficiary gets paid 2% of the total sum monthly in addition to the sum assured at the expiration of the policy.

Parents would typically and affectionately seek out the best educational opportunities for their kids. It is quite admirable as this basic parental instinct is more or less a default yearning from deep within. However, as parents, planning for the future also includes planning for a future that may not feature you in it.


How to Include your Step Child in Your Insurance Policy

Posted on: 4th Apr 2019

There are some topics of discussion that we’ve either never thought about or haven’t exactly found the time to do research on. One of such topics is how to include your stepchild in your insurance policy. The truth is, your family is all that you’ve got and whether you are related by blood or connected by love, you should want to take care of them the best way that you can. So whether your child is your direct offspring or not, you can always include him or her in your insurance policy.

Here at African Alliance, we have comprehensive insurance covers that cater to your entire family. We’ve made it as simple and as straightforward as possible so that our customers are able to enlist a variety of beneficiaries including their children who aren’t necessarily related to them by blood (stepchild or children). Anyone who would suffer a financial loss due to your demise can be enlisted as a beneficiary to your life insurance coverage provided that all necessary requirements and documentation are met.

So how does one go about this, what are the steps to take in ensuring your stepchild is included in your insurance policy? The four basic things to do are as follows;

  1. Ask about the Procedure.

There is a procedure or a method for these sort of things and every insurance company has one installed for a case such as this. Therefore, the first step to including your stepchild in your insurance policy is to either place a call, send an email or visit the insurance company to find out what the procedure is to make this happen. Different insurance companies tend to go about situations like this in their own unique way. Call us, email us or visit us today at African Alliance to find out the procedure to get this done.


  1. Ask about the Documentation.

Getting to know the procedure is great and very necessary as we have explained above. What comes next is the necessary documentation required for the furtherance of this process. Your stepchild is a personality void of your own and hence you will need to present documents supporting your claim and also stating your purpose for doing this. Again, you can reach out to us here at African Alliance to guide you on what to do and what documents you would need.


  1. Ask about the Cover.

It is very important to know what you’re enrolling your stepchild for and hence it is only wise to ask about how your insurance policy covers him or her. You also need to request for information regarding whatever costs additional costs you may incur from including your stepchild in your insurance coverage. There may be sums deducted or extra payments to be made and asking about the cover will get you the information that you need. Let us know at African Alliance if you need help with this.


  1. Ask to Confirm the Implementation.

After all, is said and done, make sure you check to confirm that your stepchild has been included in your insurance policy. No one is free from human error and for such a delicate thing as this, it won’t take much to confirm that the changes have been implemented.


Your stepchild shouldn’t suffer financially because they do not bear the same name as you. If you love them and think they should be catered for, you can express this love by including them in your insurance policy.


3 African Alliance Insurance Policies to Kick-start an Investment Lifestyle

Posted on: 28th Dec 2018


The secret to a better lifestyle, an investment lifestyle, isn’t by waiting to first have monthly earnings like a Femi Otedola or the annual income of a Dangote. No! You don’t have to be making insane money to live a financially secure life. You don’t need a promotion to MD before you make buying insurance policies your priority. You can be an employer or an employee, you may hold a white-collar job or you might even be an entrepreneur, but whatever you do, you are not unfit to kick-start a life funded by investments.


At African Alliance, we believe that life should be wholesome and that one of the greatest achievements you can make while alive, is investing in insurance policies that will benefit you and cater for your family should the tides of fate no longer favor you.


There are policies that seek to only insure life and that’s about it, but we’ve made it a top priority to insure life and assure you a certain lifestyle while at it. It is not an illusion when we say you can enjoy a plush lifestyle purely hinged on insurance investment policies uniquely tailored to give you the best life.


Allow us to introduce to you, three (3) of such peculiar insurance policies that will get your investment lifestyle underway.


  1. The Investment Plus Plan.

How incredible will it be if we told you that you could save money, earn interest on said savings and automatically attain a life cover? Almost too good to be true, right? But guess what? It’s as real as it gets. From as low as N4999.99, you can invest in your future by making savings which generate a 5% interest paid to you. This is of course in addition to the life insurance your family is awarded, should anything happen to you.


  1. The Money Appreciation Plan.

With this policy, you are allowed to make an investment by pulling together savings that will result in earnings where the payout is up to 30%. In every one-third of the period of cover, the payout will suffice. If you were thinking of making savings elsewhere, this plan allows you to put your best foot forward in one fell swoop. This is because, in addition to your savings, this hybrid investment plan comes with a life insurance cover as well. Your money literally appreciates within the duration of the plan and you can always cash out when it matures.


  1. The Children Education Plan.

There are very few things in life more worthwhile than your children and so it’s no wonder that parents often do their best to invest in the educational future of their young ones. Therefore, the children education plan was created to do justice to parents who aspire to give their children quality education. The secret of some unassuming people around you who have kids in some of the best schools is the children education plan. It allows them to invest and look out for their children while they’re alive and even when they are no more.


Amazing stuff isn’t it?! Talk about living the life even on the occasion of your demise, as these insurance policies will have you so well invested, you and your family can finally have one less thing to worry about. All you have to do is make the decision and set the ball rolling because if it’s cover you seek, African Alliance got you covered.


5 Misconceptions about Life Insurance Held by Nigerians

Posted on: 27th Dec 2018

Nigerians are critical people. They are ruled by values decades old and still make decisions based on fractured information even in these modern times. You would think that at least with the emergence of the internet, everybody could cure themselves of any misconceptions or myths but sadly, this is hasn’t proved sufficient. Even in this present day, it will shock you to discover the alarming number of misconceptions that Nigerians hold towards certain things, one of which is life insurance.


For reasons yet unfathomable, many Nigerians have subscribed to misguided notions concerning life insurance. Whether it’s a lack of information that stems from an unwillingness to make their own research or something more profound, these misconceptions have ruled the Nigerian populace for far too long.


We have been able to put together five (5) of the most common misconceptions about life insurance that wax stronger with each day amongst unassuming Nigerians.


  1. Life Insurance Companies Do Not Pay Claims.

Nigerians cannot be blamed for having trust issues when it comes to pay-outs. They are more or less used to getting hoodwinked in these kinds of situations. Hence, they have naturally grown a resistance to trusting organizations that make promises to pay claims whether legally binding or not.


Nonetheless, Nigerians must know that this is a myth, an untrue tale peddled as facts, that life insurance companies such as African Alliance, do not pay claims. But on the contrary, each year life insurance companies, African Alliance included payout billions of naira in claims to Nigerians via various insurance policies.


  1. It is Extremely Expensive.

This particular misconception has to be the chief reason many Nigerians and in fact, many people around the world, hesitate to subscribe for life insurance. No one knows when or how or even why this rumor is all over the place, but if you ask any random person why they are yet to take out a life insurance policy, they are most likely to state that it’s just too expensive.


Some people have overshot the price of life insurance by as much as 200-300% the original amount due to a general misconception. Life insurance is actually quite affordable and depends on factors like gender, age, health status and so on. Plus there are different plans to suit your needs and requirements.


  1. Only The Spouse with The Larger Income Needs Life Insurance.

People often assume that only the person making the most money should take out a life insurance policy and this is not true. The truth is, whatever financial aid the other spouse is able to provide with what little income he or she makes, may prove difficult to sustain should anything happen to them or their source of income.


  1. Do It Once and Get It Over and Done With.

This refers to people who feel taking out a life insurance policy is a one-off affair. The terms of your life insurance plan as at when initiated were tailored to cater for your needs at the time. Time passes and your lifestyle changes, meaning your life insurance plan has to follow the same trend. You could’ve gotten married, had kids or even bought a car or two and this means you’d need to update your life insurance plan to fit into your new lifestyle. You simply cannot do it once and be done with it.


  1. Way Too Young for Life Insurance.

There’s no such thing as being way too young to get life insurance. As a matter of fact, the earlier the better. As a young chap, you are most likely in the healthiest state of your life and life insurance at such a time happens to be way cheaper. Do it now, just do it.


Life insurance policies are made to attend to your needs and to secure a financial future for your family. Do not procrastinate or be swallowed up my fabricated myths and misconceptions that don’t hold water.


Subscribe to a Life Insurance Plan With Us Today.


5 Christmas Gift Ideas for Family Members.

Posted on: 4th Dec 2018


The season of Christmas tells of joy and happiness. It’s a time when families do their best to come together to celebrate the holidays. Now, whether you’re in the same house, same city or in the diaspora, whether you’re coming home this Christmas to see your loved ones or not, everybody and more importantly every Nigerian knows they cannot show up empty-handed. You may not have a pot belly and white beards or a red and white suit with an army of reindeers, but as far as most Nigerian families are concerned, you are your family’s Santa Claus and you are expected to come bearing gifts.


The bone of contention, however, is that even though most people are thoughtful and want to appreciate their families by gifting them wonderful things this Christmas, they are also worried about the finance to do so and wouldn’t want to hurt their savings.


Even more importantly, many do not know how to go about it and hence, we have done our best to have listed here, a wealth of considerations outlining five (5) gift ideas for family members. They are;


  1. A Christmas Holiday Trip.

There are many ways to go about gifting your loved ones a fun Christmas holiday trip. In Nigeria, there are fun holiday locations around the country. This gift idea is suitable for the whole family. The year has been tough and a holiday trip away from home is a good idea.


  1. Special Spa Treatment.

Nobody ever turns down a spa treatment. It’s going to be even more memorable if they’ve never been to a spa ever or in a long while. With the stress the typical Nigerian has to endure all year, some deep tissue massage, beauty treatment, pedicure, and a manicure would do your family members some good.


  1. Clothes, Jewelry & Clothing Ornaments.

You can never go wrong with gifting your family clothes. If you’re able to do your research beforehand, get them clothing items they’ve been desiring all year. You can also take the initiative to get them customized pieces of clothing, jewelry for women, watches, cuff-links, and ties for men, perfumes and so on. If you can obtain their measurements, some tailor-made attires will leave them in high spirits. Also, while this gift idea cuts across all the categories, the children in a typical Nigerian family expect their Christmas clothes, so it’s a no-brainer.


  1. Gift Card or Gift Voucher.

Some family members are very unpredictable when it comes to giving them gifts. Whether it’s Christmas or even their birthdays, you just don’t know what they want. You might even be tempted to give them money instead. Nonetheless, purchasing a gift card or voucher easily solves this dilemma. There’s nothing better than a shopping spree having been blessed with a gift voucher to gift yourself what you want.


  1. The Gift of Life Insurance.

You want to give your family members something they can all enjoy at the same time? Are you thinking of leaving them gifts beyond just Christmas? Then sign up for a life insurance policy and give them the best gift of all this Christmas.


Nigerians are very family-oriented people.  They will move mountains for you just by emerging from the same tribe or having come from the same village. So it is only expected that for family members, one has to be intentional in giving gifts that would put smiles on their faces.



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4 Ways to Save Some Money for A Memorable Christmas

Posted on: 19th Nov 2018

If you’re a great spender during the Christmas season and it makes you miserable afterwards (especially when January becomes as dry as Harmattan), then this article is for you.

You can attribute it up to being over-excited or just a general lack of financial discipline, but whatever the case is, it turns out people just find it difficult to save during the Christmas season.

So, how can you make this Christmas different from all others?

Let’s Make A Budget.

Ask yourself – what’s the target? How much do you need to spend and on what items?

Create a list of things you need to spend on. Cancel out those that seem frivolous.

There will be expenses that tend to emerge out of the blue this period, so prepare for them by making room for what is typically referred to as “miscellaneous”. Be careful not to over-extend your budget as this is another common mistake that  makes people to go overboard.

Trim Down the Budget.

Many people end up buying more than they need or buying what they don’t even really want.

For you, this is not going to happen, right?

Before you add all the items in the world on your budget, stop and think – do I NEED this or do I WANT this?

Review your current holiday traditions and note where you have excesses. Having figured this out, you need to cut it. Keep in mind the whole time that the festive period is exactly that, a period – it will disappear as quickly as it arrived.

Stick to That Budget.

Ever walked down the street and then seen those nice pair of shirts or shoes that you know would look perfect on you?

Before you go too far, resist that temptation.

There will be temptations and you will feel the very persuasive need to reach in there and harm your savings. Do not succumb, take a few steps back and retreat. The trick is to pick up that budget wherever you have it spelled out and be reminded that you owe yourself a memorable Christmas treat this season. Pay a blind eye to the numerous holiday offers that will be floating around this season.

It’s nothing but a trap


Save in Bits for the Unforeseen

It is much easier to save N10,000 every month than it is to save N120,000 at a go. Try it and see. However, we know that plans go awry; sometimes, we do not plan things and they go South.

Who’s got your back during those trying times?

We recommend getting an investment plan that has life insurance features added. This way, no matter what happens, you will always have confidence to celebrate Christmas today and the years to come.

In summary, you need a healthy dose of financial discipline, self-restraint and good judgment. Apply these simple principles in addition to the tips above and if you are able to stick to them, you would be the happiest Christmas spender that ever liveth.

Do you have more ideas to include? Comment below.



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