Cornerstone Insurance Insight: How Oga Boy Plan helps you settle your apprentice with ease
Cornerstone Insurance Plc
In furtherance of its mission to promote financial inclusion and entrepreneurship in Nigeria, Cornerstone Insurance Plc has reiterated the importance of its innovative Oga Boy Apprenticeship Savings Insurance Plan — a product designed to ease the financial burden on business owners when settling their apprentices.
The Oga Boy Plan addresses one of the biggest challenges in Nigeria’s traditional apprenticeship system, the lack of start-up capital for apprentices after completing their training, by combining savings and life insurance into one practical financial solution.
Explaining the idea behind the product, Executive Director, Technical Operations at Cornerstone Insurance, Mr. Peter Ekwueme, described the plan as a forward-thinking approach to supporting both Ogas (boss) and apprentices.
“The Oga Boy insurance policy empowers young people to not only learn a trade but also secure their financial future, making the transition from apprentice to business owner smoother and more sustainable,” he said.
The plan allows traders and entrepreneurs to save regularly towards their apprentice’s settlement while enjoying life insurance cover throughout the duration. It features a two-year renewable savings structure with a minimum monthly contribution of ₦5,000 and offers death benefits starting from ₦100,000 up to ₦1 million. The accompanying term life insurance guarantees that, in the event of the Oga’s demise, the apprentice or named beneficiary still receives full settlement.
According to Cornerstone Insurance, the Oga Boy Plan was designed to promote financial discipline among entrepreneurs while strengthening Nigeria’s apprenticeship system, one of the country’s most effective models for skill development and job creation.
“This product provides traders with an easy and secure way to plan the settlement of their apprentices without financial strain,” the company stated. “It ensures that apprentices who have diligently served can start their own businesses with dignity and capital support.”
For more information, visit any Cornerstone branch, call 07086216957, or visit www.cornerstone.com.ng.
