Stockbrokers’ Institute insures members against death

The Chartered Institute of Stockbrokers (CIS) has made history after over 27 years of existence by addressing the physical, mental and financial health of its members through purchase of group life assurance scheme and personal accident insurance cover for them.

Under the combined group life assurance scheme and group personal accident insurance cover, every member is immediately entitled to a sum of N1,000,000 compensation in the event of death or permanent injury while there is a specified amount for medical bills for injury sustained.

Already, the policy, hailed by market watchers as a great succour to Stockbrokers with the rising death of its members, has become effective with the signing of a Memorandum of Understanding (MOU) yesterday by the Institute and a leading insurance firm, Afriglobal Insurance Brokers.

Speaking at the signing ceremony, the Institute’s President, Olatunde Amolegbe explained that the group insurance scheme was part of the initiatives to create enabling environment for the members and would be extended to their families soon.

“One of our desires as an Institute is to continue to cater for the welfare of our members and their families. The Institute has decided to put in place life insurance policy for its members such that the families can be taking care of in the event of inevitable.