Have a Saving Culture For Future with Wapic Smart Life Plus Plan and Smart Scholars Plan


Wapic Smart Life Plus Plan

This is an insurance solution that provides you the opportunity of systematically accumulating funds toward meeting short-term obligations and emergencies with an embedded free life cover in Nigeria today. 

Saving toward a specific goal requires a lot of discipline.  Considering the various channels available through which you can make withdrawals from your regular savings, using an insurance vehicle provides that needed control which will guide you toward achieving your set goal. 

In addition to enjoying investment returns on your savings, Wapic Smart Life Plus Plan also provides you the opportunity of having an insurance solutions.

Scope of Cover:

Demise, absolutely FREE!  Your principal is also guaranteed!!
Table of Benefits
Annual contribution
Sum Assured (N)

Features & Benefits


1         Minimum annual contribution: N60,000
2         Entry age: 18-54 years
3         Part withdrawal: Up to 85% of accumulated principal
4         Premium payment frequency: Flexible
5         Return on investment: Index linked
6         Additional cover: permanent disability, critical illness and medical expenses as a result of accident (at a cost)
(Note: Interest not applicable for withdrawals in Year 1)


1 Enjoy FREE life cover of up to N500,000
2 No underwriting for your convenience
3 Flexible but high return on investment
4 A vehicle toward achieving short term financial goals and needs
5 Succour in the event of demise
6 Premiums are tax deductible

Wapic Smart Scholars Plan

 This is an insurance solution that provides you the opportunity to save funds toward financing your child’s education and embedded insurance protection against the risks of demise or permanent disability on the lives of either or both parents.  
The policy is written in the name of your child, as the policy owner, and also provides a medical expense cover for the child, as a result of accident while in school

Why Smart Scholars Plan?

The demise of a parent/sponsor is a tragic event which adversely affects the education and future financial security of the child.  Not putting adequate plan in place to edge against this risk could present a circumstance that is too hot to handle.
 Wapic Smart Scholars Plan is a means of transferring that risk to Wapic. It ensures your child is financially protected and education guaranteed; that ultimately gives you rest of mind.

Scope of Cover:

Demise and Permanent Disability

Benefits Payable:

Maturity: Investment Account Balance
Permanent Disability:  Family Income, Premium Waiver plus Account Balance at Maturity
Demise: Sum Assured, Family Income, Premium Waiver plus Account Balance at Maturity


1. Minimum annual contribution: N60,000
2. Minimum duration: 5 years
3. Entry age: 18-60 years
4. Part withdrawal: Up to 25% of accumulated principal after 2 years
5. Premium payment frequency: Flexible
6. Life cover: 200% of annual contribution, subject to a maximum of N5 million
7. Medical examination: Subject to total sum at risk


1         Return on Investment: Flexible but high return
2         Accidental Medical Expenses (child): Up to N50,000 payable once in a year
3         Academic Award (Best in Class): Up to 10% of your annual contribution, subject to a maximum of N20,000 (payable once)
4         Premium Waiver: Subject to no outstanding premium at the time of demise
5         Maturity Benefit: Applied toward payment of the child’s school fees
6         Family Income Benefit: 10% of life cover
7         Permanent Disability Benefit
8         Life Cover: Payable in the event of demise
9         Succour in the event of demise, permanent disability or Accidental while the child in in school
10     Premiums are tax deductible

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