Life Insurance Scheme

Thursday, 19 September 2019, marked a milestone in our commitment to the welfare of our members sequel to our payment of the insurance premium sum of N45,300,000.00 (Forty Five Million Three Hundred Thousand Naira only) to Leadway Assurance Company Limited (“Leadway Assurance” or “Leadway”), the NBA’s insurance partner, for the Life Insurance Scheme (“Life Scheme” or “Scheme”) that covers qualified NBA members who had paid their Bar Practice Fees between 01 January and 31 March 2019.

The Life Scheme is actually not a brand-new initiative; it is an initiative that had existed but became defunct due to non-payment of the requisite premium amounts for the years 2017 and 2018. We have happily revived the Scheme for the benefit of qualified members of the NBA by paying the requisite insurance premium; the said payment has been acknowledged in writing by Leadway Assurance in an e- mail that was received on 20 September 2019. The insurance cover is for one calendar year, beginning from 01 January 2019.

Other important features of the Scheme that members need to be aware of include the following:

  • The Scheme, for the avoidance of doubt, did not operate between 2017 and 2018 due to non-payment of the requisite premium amounts. In the circumstance, neither Leadway Assurance nor the NBA is or can be liable under the Scheme howsoever for any deaths or accidental permanent disabilities that may have occurred during the said period i.e. 2017 and 2018.  
  • The 3 (three) benefits under the Scheme are as follows:
    Death cover ₦1,000,000.00
    Accidental Permanent Total Disability (“PTD”) ₦1,000,000.00
    Accidental medical expenses benefit ₦300,000.00

In the years preceding 2018, when the Scheme was operational, the only benefits that were covered and available to our members were the Death and Accidental PTD benefits and we have simply continued with these benefits.

Payment by Leadway Assurance on either Death or Accidental PTD on any member terminates the cover for the member.

The Accidental Medical Expenses benefit is a goodwill “enhancement” that is provided by Leadway Assurance and does not at all or howsoever take the place, eclipse or stand in the way of the Death or Accidental PTD benefits. In other words, a lawyer who benefits from the Accidental Medical Expenses claim of N30,000.00 would and could still claim the Death or Accidental PTD benefits in the event of either incident provided that, as stated in the preceding Item (iii), payment by Leadway Assurance on either Death or Accidental PTD on any member terminates the cover for the member.

NBA has no liability under the Scheme howsoever. The Association merely facilitates the Life Scheme for our members and therefore bears no contractual liability therefor. The Association will however play the role of the liaison between the NBA members who are covered by this scheme and Leadway Assurance and will assist in processing any claims by members or their survivors/beneficiaries under the Scheme.

We feel very delighted and privileged to be in a position to facilitate this Life Scheme for our members. As soon as the insurance cover documentation are ready and sent to us by Leadway, we would share them with all our members.


Olumide A. Akpata

NBA President