FAQ

Qns. Can an existing life insurance policy be used to provide for the repayment of an outstanding mortgage loan?

Ans. Yes; the purchase of a new mortgage protection term insurance policy is usually not required by the lender. An existing policy, either term or cash-value life insurance, can be used for many purposes, including paying off an outstanding mortgage loan balance in the event of the insured's death.

Qns. What is the minimum duration of investment policy?

Ans. Minimum Duration depends on the type of investment policy. For example; Flexible Assurance Scheme (FAS) policy is the least with 2 years, while Standard Flexible Plan (SFP) policy has 6 years.

Qns. How long does it take to get my policy document after initial payment?

Ans. The period (number of days) depends on the location of the insured. Lagos and its environs takes 72 hours, while outside Lagos is maximum of 7 days.

Qns. How long does it take for me to access my fund at matrurity?

Ans. It takes maximum of 5 days.

Qns. What are the required documents needed to process claim?

Ans. On maturity or termination of policy, the required documents are as follows;
1. Notification Letter
2. Submission of Policy Document.

In case of Death claim, the required documents are;
1. Notification Letter
2. Death Certificate
3. Medical Report

Qns. How strong is your company financially?

Ans. Standard Alliance Life is a member company of Standard Alliance Group listed on the Nigerian Stock Exchange with Capital Base of over 25 Billion Naira as a group.

Qns. Can I use my Insurance Policy to secure a bank loan?

Ans. YES, Insurance Policy can be used as collateral to secure a loan.

Qns. Does your company offer Loan to Policy Holder?

Ans. YES, we do offer Policy Loan base on the type of policy obtained.

Qns. Can I have more than one policy for my family?

Ans. Yes, multiple policies can be obtained for the family. The member(s) of the family must be indicated on the proposal form.