FBN Insurance is a Limited Liability Company with a primary objective of assisting individuals and corporate clients in bouncing back swiftly when the unexpected occurs. Specializing in Life Insurance businesses in Nigeria, their products are designed to provide customers with peace of mind through efficient risk management.
Originally a joint ownership between FBN Holdings Plc (65%) and the Sanlam Group (35%), FBN Insurance officially commenced operations on September 1, 2010. With a strategic presence across the country, the company emphasizes product innovation, efficient service delivery, and prompt claim settlement.
FBN Insurance Rebranding
In September 2022, FBN Insurance underwent an official rebranding and was renamed as Sanlam Group following the acquisition by the Sanlam Group. This transition marked a new phase with Sanlam Group as the parent owner, committed to providing innovative product solutions to customers.
FBN Insurance Products
FBN Insurance offers a diverse range of insurance products tailored for both corporate and retail needs.
Corporate Products
- Credit Life Assurance Plan: Provides coverage for outstanding debt in the event of the borrower's death, critical illness, permanent disability, or job loss.
- Keyman Assurance Plan: Offers coverage against financial loss for a company due to the death or critical illness of a key employee.
- Tuition Protection Plan: Ensures continuity of a child's education in the event of a parent or guardian's death, permanent disability, or critical illness.
- Term Assurance Plan: Provides a sum assured to beneficiaries upon the death of the policyholder within a specified duration.
Retail Products
- Family Income Protection Plan: Guarantees payment to beneficiaries in the event of the policyholder's death, preventing a decline in dependent's standard of living.
- Easy Save Plan: Offers a safe and quick way to save for short-term financial objectives with interest payable on the premium.
- Personal Retirement Plan: Ensures a better experience during the retirement stage of the policyholder's life.
How to Process Claims with FBN Insurance
FBN Insurance ensures an efficient and prompt claims process for matured policies. Policyholders or beneficiaries can follow these steps to ensure timely settlement:
- Inform your financial advisor ahead of the maturity.
- Provide your account details three (3) months before the maturity date.
- Ensure that the account details provided correspond with the policy name.
FBN Insurance Operational Branches
If you're looking to purchase an insurance policy, FBN Insurance Company has operational branches across the country. Locate the one closest to you here.
Is FBN Insurance Legit?
FBN Insurance is a Limited Liability Company licensed to transact Life Insurance businesses and was officially rebranded into Sanlam Group in September 2022. They operate under the regulatory framework and were previously a member of the Sanlam Group, a leading diversified, pan-African financial services group.
How to Terminate FBN Insurance?
To terminate your FBN Insurance policy, you can contact them directly or visit the bank for assistance.
How Do I Check My First Bank Insurance Balance?
To check your First Bank insurance balance, follow these steps:
- Dial *894# on your mobile phone.
- Select "First Money" from the displayed options.
- Click on "Balance Inquiry."
Conclusion
FBN Insurance, now rebranded as Sanlam Group, stands as a reliable insurance provider offering a spectrum of coverage options. With a commitment to innovation, efficient service, and customer satisfaction, FBN Insurance provides individuals and businesses with the assurance they need in the face of uncertainties.