Stanbic IBTC Insurance Limited, a subsidiary of Stanbic IBTC Holdings, has introduced the Manifold Endowment Plan, a hybrid insurance and investment product designed to help Nigerians protect their loved ones, grow wealth, and plan confidently for the future.
The plan offers life cover of up to ₦1 billion, partial maturity payouts, and end-of-term bonuses. Targeted at Nigerians aged 18 to 64, it provides flexible policy durations of six to fifteen years and combines death benefits, accidental medical coverage, and structured investment returns.
Speaking at the launch, Akinjide Orimolade, Chief Executive of Stanbic IBTC Insurance, noted that while Nigeria’s insurance industry has recorded strong growth—with revenues rising by 147% in the first nine months of 2024—penetration remains low at just 0.5% of GDP.
He said the Manifold Endowment Plan was created to address this gap by delivering accessible, transparent, and rewarding insurance solutions tailored to the needs of Nigeria’s middle- and high-income earners.
“With Manifold, every premium is both protection and investment. Even if the worst does not happen, your money is never wasted. Policyholders can enjoy two 25% premium bonuses while still receiving 100% of their chosen sum assured at maturity,” Orimolade explained.
Premiums start from ₦10,000 monthly, offering a wide entry point for individuals seeking both financial security and long-term returns.
Stanbic IBTC Insurance emphasized that the product aligns with its broader mission of helping Nigerians “secure today and prosper tomorrow,” whether through building generational wealth, preparing for retirement, or achieving personal financial milestones.
