Stanbic IBTC Insurance Limited, a subsidiary of Stanbic IBTC Holdings, has unveiled the Manifold Endowment Plan, a product that combines insurance protection with investment opportunities for Nigerians seeking both financial security and long-term returns.
The plan offers life cover of up to ₦1 billion, partial maturity payouts, and end-of-term bonuses, making it suitable for Nigerians aged 18 to 64. With flexible durations between six and fifteen years, it provides death benefits, accidental medical coverage, and structured investment benefits to help individuals and families plan, protect, and prosper.
Nigeria’s insurance sector has experienced impressive growth, with industry revenues rising by 147% in the first nine months of 2024. However, penetration remains low at just 0.5% of GDP—a gap Stanbic IBTC aims to close with innovative offerings like Manifold.
Commenting on the launch, Akinjide Orimolade, Chief Executive of Stanbic IBTC Insurance, said the plan was designed to meet the real financial needs of Nigerians.
“The Manifold Endowment Plan is a response to Nigeria’s pressing need for accessible and rewarding insurance solutions. Every premium is both protection and investment—delivering peace of mind while building financial resilience,” he said.
With premiums starting from ₦10,000 monthly, policyholders can earn two 25% bonuses on their premiums, while still receiving 100% of their chosen sum assured at maturity. The company highlights that the plan addresses one of the biggest misconceptions about insurance by ensuring value even when claims are not made.
Stanbic IBTC Insurance emphasized that the Manifold Endowment Plan aligns with its mission to help Nigerians “secure today and prosper tomorrow,” whether as young professionals preparing for the future, parents building generational wealth, or retirees seeking stability.
Through Manifold, the insurer says it is redefining insurance in Nigeria by merging protection with prosperity in a transparent, customer-focused solution.
