The Need for Income Protection

The most cherished asset of any living creature is life thus you must have a source of livelihood. This means, there must be consistent income and anyone will do anything to protect this income.

The Reality

Losing a job or getting laid off can happen without warning and it is unfortunate that this very common occurrence can affect anyone at any time. Not having a salary and having your bills pile up without hope of any income can be very devastating and can eventually lead to financial hardships, depression or even death.

The Solution

Anchor Insurance Company Limited has provided a solution whereby you can earn salary for a period of 24 months following sudden job loss.

An employee who is a member of this scheme will earn benefits as follows:

100% of insured salary for the first 6 months

75% of insured salary for the next 6 months

50% of insured salary for another 6 months

25% of insured salary for the last 6 months

Premium Payable

Premium is calculated based on the following parameters, to be supplied by the employee.

  • Age
  • Marital Status
  • Educational Qualification
  • Industry and Company of the Employee
  • Job Profile (Grade/Position & Department)
  • Gender
  • Monthly Gross Salary
  • Monthly Insured Salary (provided the employee is not willing to insure whole salary).

However, rate of premium ranges between 4% – 6% which is dependent on the above parameters.   Premium can be paid on Monthly, Quarterly, Bi-Annual and Annual basis as deemed suitable by the employee by cheque, bank transfer or direct debit.

When is Benefit Payable?

Benefit shall become payable from the scheme on the event of the following conditions, when a policy holder

  • Have lost his/her job through no fault of his/her own
  • Have been in the scheme for a period not less than 12 (twelve) months

Other Benefits

  • Supplementary Benefits
  • Single Sum Benefits
  • Death Benefits
  • Free Look Period
  • Yearly Discounted Premium
  • Free Legal Services

Anchor Loss of Employment Insurance Scheme is the newest and latest solution to protect employment income; it is also a safety net, shock absorber or cushion for the harsh effect of a sudden loss of job.

Please contact Kehinde Olaniyi, 08036984427 for more enquiries on this product or submit the form below:

About Us

Anchor Insurance Company Limited was registered and licensed by the National Insurance Commission (NAICOM) in October 1989 as a general business (non-life) insurance outfit and started business in November of the same year.


To institutionalize the Anchor brand as a world-class security Company, providing superior, efficient and dynamic insurance services anchored on state-of-the-art technology, accountable and well motivated staff to meet the expectations of our stakeholder