LASACO Assurance Pays N190m Death Benefits To 97 Beneficiaries

Lasaco Assurance Plc has paid N190million death benefits to 97 beneficiaries of its life insurance scheme who were civil servants in Lagos State

The families of each of the deceased staff of the Lagos State Universal Basic Education Board (SUBEB) and Local Government and Community Affairs were paid between N629,762 and N6.5million.

Responding to the development, the managing Director of Lasaco Assurance, Razzaq Abiodun, who presented the payment letters to the beneficiaries, explained that, the company had, so far, compensated 1,356 deceased staff of the two organisations to the tune of N3 billion since 2017 when the scheme commenced.

Abiodun stated that the life cover for Lagos civil servants started during the days of Asiwaju Bola Tinubu as the governor of Lagos State while subsequent governors have continued with what the Nigeria’s president-elect started.