FG reintroduces insurance policy for 104 unity colleges

The Federal Government has promised to undertake the services of
some insurance companies and brokers for a comprehensive insurance
policy to the 104 unity colleges in the country in a bid to
increase school enrollment.

The Minister of Education, Malam Adamu Adamu, who made this
known on Sunday at a news conference in Abuja, said the insurance
policy had become Federal Government’s Official policy.

Adamu said the insurance policy of the ministry had been on
since 2014 with the payment of N5,000 by students of all unity
colleges in the country but had experienced some hitches which had
now been resolved.

He said with the policy, enrolment in all unity colleges would
have increased by at least 20 per cent b 2020.

He said that a Student Welfare Insurance Schemes (SWIS) had been
put in place for students of unity colleges where each student
would pay N5,000 per session.

According to him, the idea of the SWIS is to ensure that once a
child is admitted into any of our unity schools, that child will
never drop out of school on account of loss of parents or guardians
responsible for the payment of his or her school fees.

“In more specific terms, the policy provides that in the case of
death of a student, the parents or sponsor will be given a one-off
payment in the sum of N500,000.

” In the case of death of parents or sponsor, the student will
be paid the sum of N500,000 per session for a maximum of N2.5
million.

“Also, in the event of death of student, parent or sponsor, the
sum of N50,000 will be provided for burial expenses.

” In other words, the insurance company takes over the payment
of the child’s school fees from where the parents or guardian
stopped.”

The minister added that a comprehensive fire and general peril
cover for buildings was given to three insurance underwriters along
with brokers, saying that each of the underwriters will cover
schools in two geo-political zones.

He explained that the total premium to be paid to the three
underwriters and brokers would amount to N198 million for the 104
unity colleges.

According to him, this will provide a total cover of N900
million only per school for building and N200 million per school
for content.

Adamu also said a total premium of N70 million would be paid to
the underwriters and brokers for a comprehensive insurance cover
for the vehicles of the unity schools while the total number of
vehicles to be covered would be 326 with a total value of
N947,260,000.

The minister said that by 2020, the budget would factor in a
carrying capacity expansion project in some of the unity schools
that need to expand their carrying capacity.

He, therefore, called on parents to honour the obligation on a
yearly basis in line with government policy as the N5,000 premium
would be paid with the school fees.

Adamu also called on the insurance companies, Parents Teachers
Association (PTA) and principals of unity schools to take out time
to explain the policy to all parties concerned.

He, however, promised to ensure that all insurance companies
involved in the scheme honour their obligations as and when
due.

Similarly, Mrs Stella Marris-Omu, Principal, Federal Government
Girls College, Bwari, said it was a very disheartening thing to
find a child who was aspiring to greater heights not coming back to
school because no one can pay the fees.

She said the policy would help cushion the burden of not being
able to pay school fees by some parents.

“The process of students welfare insurance scheme came on in
2014, and when I got to the first school where I was principal, I
found that it was already a policy and parents were paying.

” But unfortunate some didn’t see the need to pay as they felt
they do not need to insure their children because of religion and
some felt they didn’t have that kind of money and some also felt it
was a waste of funds.

” However, I have had students who had the need after their
sponsors passed on to be catered for by the insurance company.

“But unfortunately, some students have not had the opportunity
for the policy to be implemented when they lost any of the parent
or sponsor.

“I also know some colleges had insurance when they had fire
incidences, thunderstorms and the like being applied to their
circumstances.

” With this insurance policy, I know that problems of out of
school children will be solved,” she said.

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