Cornerstone insurance is one of Nigeria’s leading insurance firms. It was incorporated on July 26,1991 as a private limited liability company but became a public limited company listed on the Nigeria stock Exchange in 1997. The company was established with the aim of conducting insurance business in a professional, transparent, ethical and customers focused manner. It is a licensed company and does both general and life businesses and other classes of insurance such as motor vehicles, aviation, marine, engineering all risks, asset protection, third party liability, oil and gas, credit life, group life, mortgage protection, term assurance and so on.
Cornerstone Isave Plan
The isave plan is an enhanced savings investment plan assisting in building a lump sum amount over 24months while paying a competitive interest rate of 4% higher than the minimum savings deposit rate paid by banks
Features And Eligibilities
- Anyone is eligible for the isave plan once he or she is under 65 years old
- You can terminate or withdraw anytime over the stipulated time but the accrued interest will be forfeited
- The policy term is renewable for 2years.
- The interest rate is SDR+4%. (SDR means the Central Bank of Nigeria’s stipulated minimum savings deposit rate banks can pay on savings accounts) and is usually 30% of monetary policy rate (MPR)
- The policy can be surrendered after a minimum of 13 months with no withdrawal fees
- Minimum contribution or deposit is #5000 per month
- Children below 18 can also apply or enroll for this plan.
- To create capital for future needs (Business capital, school fees)
- In the event of death, the account balance and sum assured are paid to the named beneficiary
- The sum is assured
How To Enroll
- Visit the website http://cornerstone.com.ng
- Fill the online application form with the correct details (Name, phone no, payment frequency and duration of payment) then click continue
- You will be presented with a quote displayed on your screen showing you the sum assured, annual investment, interest rate and schedule of payment
- Click buy online if you are interested and wish to continue
- Verify your details then fill in the necessary details in the fields provided
- Upload your National ID card/Driver’s license/International passport
- Upload your utility bill then click submit proposal
- You will be sent an email to confirm your account, confirm your account then ask to be assigned to a cornerstone agent who will monitor your account.