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Health and Life Insurance

First Standard Insurance Brokers LTD. > Health and Life Insurance

Our Health and Life Insurance - Complete Protection Designed For Family and Employee's

First Standard Life Insurance

First Standard’s Life Insurance is a contract binding the insurer (Company or Individual who acquires a cover) in consideration of a premium paid by the insured (Individual who gets the cover) wherein the insurer undertakes to pay an agreed sum of money pending the death of the insured or on the expiration of a specified period.

What differentiates Life Insurance from other forms of Insurance policies is that unlike others, the event insured against ‘death’ is sure to happen. However, the timing remains uncertain.

First Standard Employee Health Insurance

This type of policy is designed to foster the welfare of employees as well as reduce the financial strain that an organization could undergo in the event of accident, death or bodily injury to a member of staff. 

Our employee health insurance provides a worldwide cover on 24 hours basis and benefits payable in respect of DEATH AND TEMPORARY OR PERMANENT DISABILITY are usually expressed as multiple of salaries.

Our employee health insurance cover also extends to pay weekly benefit in the event of temporary total disability resulting from bodily injury to the insured person as well as certain allowance for expenses incurred on medical treatment as a result of accidental injury. Death or injuries from natural causes are however not covered.

life insurance
  • DEATH:  Multiple of Annual salary e.g. 3 or 4 times annual salary
  • PERMANENT DISABILITY:  Multiple of Annual salary e.g. 3 or 4 times annual salary
  • TEMPORARY TOTAL DISABILITY:  100% weekly wages for a minimum of 104 weeks
  • MEDICAL EXPENSES PER PERSON:  As determined by you on each category of staff

The above type of arrangement in effecting cover will be very beneficial to your establishment, as you will not be required to advise the insurers of any new members of staff taken on after the commencement of insurance cover.

The administrative convenience provided also obviate the embarrassing situation where an employee is injured and found not to be covered by the policy due to oversight in advising the name of employee to the insurance company.

This policy if combined with Employers’ Liability Insurance, earns the Insured a premium discount of up to 30% on the Group Personal Accident premium and the employees are covered for 24 hours.


  • Disappearance Clause
  • Motorcycling Extension
  • Riot, Strike and Civil Commotion

  • Non-Occupational Hazard Clause

Group Life Assurance Scheme

The Federal Government has enacted a Pension Reform Act 2004 which has taken off. 


  • To ensure that every worker receives his/her retirement benefit as at when due.
  • To assist individuals to save for their retirement 
  • To establish a uniform set of rules, regulations and standards for administration and payment of retirement benefits for workers.

The Act applies to all private organizations that employ at least five (5) workers as well as all workers in the Federal Government establishments.

The minimum age of entry is 18 years and maximum is 60 years although it may be extended to age 65 on completion of prescribed medical examination at Assurers’ cost.


The employer is compelled to put in place Group Life Assurance of minimum of three (3) times i.e. 300% of the annual total emolument of the employee. Cover provided is for death in service benefits in respect of the each employee. 

However, if you require higher benefits for your employee, we can provide quotation for various multiple of emolument; 400%, 500% etc. 

Emolument is defined as the total of Basic Salary, Housing and Transport Allowances.

The policy is renewable annually with payment of annual premium while contract to insure life of employee terminates in respect of employee on his withdrawal from service or death in which case there is always an adjustment of premium to accommodate new entrance as well.


The death benefit is paid to the dependents of the employees on his death whilst in service.


The death benefit is paid to the dependents of the employees on his death whilst in service.

Key Benefits of having your Health and Life Insurance covered with First Standard Insurance Brokers

  • First Standard Insurance Broker are experts in the market and have a talent for finding the best cover at the best price for you.
  • First Standard Insurance Broker is independent and works with a carefully selected group of insurers that we have regular contact with and are usually able to secure exclusive deals for you.
  • First Standard Insurance Broker would always have an expert dedicated to you everytime to help with the breakdown of the technicality of the policy we helping you manage.
  • First Standard Insurance Broker efficiently helps with difficult bespoke cover for high value or collectable items, especially obtaining a personalised quote at the best rate for you.
  • First Standard Insurance brokers have expertrate who are uniquely equipped to save you money when shopping for your next insurance policy.

  • First Standard Insurance Brokers offers you the peace of mind, the knowledge, experience, and trustworthiness every client deserve to enjoy when acquiring their policy or while still active.

  • First Standard Insurance Brokers deals with a wide range of products and services and are qualified to recommend the policies that best suit your needs from a broader portfolio of options.

  • A claim with First Standard Insurance Broker means that you have a professional on your side when choosing the best policy for yourself and your family and business.

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