WebSep 10, 2024 · Group Life Assurance (For Employers) Section 9(3) of the Pension Reform Act 2004 makes it compulsory for every employer of labour, with five employees or … Web2.-(1) There shall be for the purpose of this Act two main classes of insurance That is-(a) life insurance business ; and (b) general insurance business. (2) In the case of life …
Insurance in Nigeria: All You Need to Know
WebIn Nigeria, the Pension Reform Act 2014 (PRA) governs the framework and procedure for pensions, and so we will reference it a lot in this article. ... Annuity for life purchased from a Life insurance company; The 50 year/retirement rule is the general rule, however there are exceptions provided if the person leaves employment before age 50 for ... WebJun 22, 2024 · "By the above provisions of Section 4(5) & (6) of the Pension Reform Act 2014, I hold that the 1 st Defendant as the employer of the deceased has a mandatory … homes for sale bay view
United States: Life Insurance In Estate Planning (Podcast)
WebJun 16, 2024 · The Pension Reform Act (“the PRA” or “the Act”) was first enacted in 2004 and reenacted in 2014. Among many other provisions, the PRA makes Group Life Insurance compulsory for all employees. … WebJul 18, 2024 · In case of untimely demise of the employee, the nominee or beneficiary can file a claim to get the sum assured through the following steps: Inform the insurance company within 24 hours or as early as possible. Submit the necessary documents like original death certificate, insurance copy, etc. to the insurance company. WebMay 28, 2024 · The National Pension Commission (PenCom) has published a notice to all employers and employees in Nigeria on compliance with the provisions of Pension Reform Act 2014 on Group Life Insurance Policy (GLIP) for employees and display of Insurance Certificate for 2024. homes for sale bay street taunton ma