Cornerstone Insurance Insight: How life insurance can protect families, build wealth

Cornerstone Insurance Plc explains life insurance as an essential part of financial planning, highlighting its role in protecting families, supporting dependants and promoting long-term financial stability.

The company says life insurance offers benefits beyond providing financial compensation to beneficiaries following the death of a policyholder, as it also provides opportunities for structured savings, investment and wealth creation.

As part of efforts to improve public understanding and appreciation of life insurance, the insurer is educating customers on its range of products designed to address different financial needs and long-term aspirations.

According to Cornerstone Insurance, its product portfolio caters to individuals seeking basic life protection as well as those interested in combining insurance coverage with savings and investment opportunities.

One of its offerings is the Cornerstone Life Insurance Plan, a one-year term assurance policy that provides a lump-sum payment to designated beneficiaries if the insured person dies within the policy period.

The Managing Director/Chief Executive Officer of Cornerstone Insurance Plc, Mr. Stephen Alangbo, says the product was developed to protect the financial interests of dependants and provide them with support in the event of the policyholder’s death.

He explains that the policy helps families cope with the financial difficulties that may arise from the loss of a breadwinner or loved one by providing funds to meet immediate and other essential obligations.

The product operates within a fixed one-year coverage period and requires a one-time premium payment. Its benefits include financial support for dependants, assistance with settling outstanding debts and meeting funeral-related expenses.

Beyond term assurance, Cornerstone Insurance offers investment-oriented life insurance solutions that allow policyholders to combine financial protection with wealth accumulation.
These include the Maximum Investment Plan, iSave Plan and Cornerstone Universal Plan, which are structured to provide life insurance coverage alongside savings and investment opportunities.

The insurer notes that selecting an appropriate life insurance policy requires individuals to consider their financial priorities, income levels and long-term objectives.

While some customers may be primarily interested in securing financial protection for their families, others may prefer products that offer additional opportunities to save and build wealth while enjoying life insurance coverage.

Cornerstone Insurance says its diverse range of life insurance solutions reflects its commitment to strengthening financial preparedness, encouraging responsible financial planning and helping individuals and families achieve greater financial security.
Prospective customers seeking further information about the company’s life insurance products can visit any Cornerstone Insurance branch, call 0708 621 6957 or visit www.cornerstone.com.ng⁠.