Anticipated Endowment Assurance

NSIA Anticipated Endowment Plan is a unique product that provides a combination of life insurance protection and savings in a flexible manner. The policyholder withdraws certain percentage of the guaranteed benefit (sum assured) during the currency of the policy and still collects 100% of the original sum assured at the end of the policy term.

Key Features

  • The original guaranteed sum assured is specified in advance by the policyholder
  • Minimum sum assured is Five Hundred Thousand Naira (N500,000)
  • Periodic payment of a specified percentage of the guaranteed sum of money (sum assured) during the period of cover
  • Due periodic payment left with the company attracts a guaranteed interest rate (currently 10% per annum)
  • Payment of the full sum assured and bonus at the maturity date of the policy despite the period payments earlier made
  • Policy terms are 6, 9, 12 and 15 years
  • A simple reversionary bonus (profit) is added to the sum assured every year. This is currently guaranteed at 2% of sum assured per annum.
  • Policy can be used as collateral for loan
  • Policyholder can apply for policy loan after the policy has been actively maintained for two consecutive years
  • Maximum age at inception is 64 while the maximum maturity age is 70 years.
  • Policyholder pays annually, half-yearly, quarterly or monthly to NSIA Life Assurance Limited to secure the guaranteed benefit and bonuses
  • Medical examinations may be required in certain cases


During the period of cover

  • Payment of 25% of the guaranteed sum assured at the end of one-third of the policy term, if the policyholder is alive
  • Payment of another 25% of the guaranteed sum assured at the end of two-third of the policy term, if the policyholder is alive
  • Payment of 100% of the guaranteed sum assured together with accrued bonuses at the maturity of the policy

On Death

NSIA Life pays 100% of the guaranteed sum assured and all accrued bonuses to the policyholder’s named beneficiary.

On Maturity

If the policyholder lives till the end of the policy term, he receives the sum assured together with all accrued bonuses.

On Discontinuation

If the policyholder discontinues the policy after two complete years’ premiums have been paid and the policy has been in force for two years, NSIA Life will pay a reduced benefit known as surrender value.

Policy Loan

On acquiring a surrender value after two years, the policyholder can apply to NSIA for a loan of up to 90% of the surrender value on the policy.


No payment is made if the policy is terminated within two years of its inception.


The Anticipated Endowment product is suitable for an individual who:

  • wants a combination of life insurance cover and savings
  • wants to enjoy part of the guaranteed benefit before the agreed maturity date
  • who needs emergency fund

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