The purpose of this product is to provide for a given period, a predetermined monthly income for an individual who has just lost his/her job.
THE ADVANTAGES OF THE PRODUCT
Protection of Financial Loss
- PSPS protect your financial obligations even after loss of job.
Securing Our Children Future
- PSPS guarantees your children education and welfare.
Loss of Steam Frustration, Psychological Breakdown
- PSPS immunes you against frustration and psychological breakdown that follows loss of job.
Employee Decency
- PSPS inspires the confidence of being a staff and not a slave in your workplace.
Economic Stability
- PSPS sustains general standard of living of the policyholder.
Insurance New Look-Product Reliance
- PSPS eliminates worries, anxieties and apprehension associated with loss of jobs.
MEMBERSHIP
Who is qualified?
To be eligible for protection under PSPS, prospective policyholder:
Must be an employee of a rated company and industry.
Must be in a permanent employment in a qualified occupation
Must be earning a minimum salary as prescribed by the scheme from time to time.
Must have an active bank account in any of Nigerian Bank.
What is expected of you
Each member of the scheme must:
Provide information required for the assessment of his eligibility for the scheme
Supply all necessary documents required for assessment of his eligibility
Supply details of his earnings, etc
Pay his premium on due date
Give immediate notice of any change to data or information earlier provided
Notify PSPS immediately after the termination of his/her job
Co-operate with PSPS in all other areas for smooth running of the scheme
How To Log-in
A valid email address is required.
A unique password is required to log-in (Warning: you are advised not to use your email password for this purpose).
You must validate the email by replying the email validation sent to your inbox.
BENEFITS
PSPS offers different layers of benefits depending on your circumstances.
LAYERS OF BENEFITS
Monthly Income
In the event of termination of employment, PSPS will pay your last earned salary for a maximum period of 24 months on a reducing scale method as shown below. This reduction is to stimulate job hunt and desire to return to work:
100% of the insured monthly salary for the 1st 6 months
75% of the insured monthly salary for the next 6 months
50% of the insured monthly salary for the next 6 months
25% of the insured monthly salary for the last 6 months
Supplementary Benefit
In the event of a member gaining a new employment or having an income generating activities during the benefit paying period and his/her new salary is lower than the existing insured income, PSPS shall provide the shortfall to place you in your original position as it was immediately before the occurrence of loss of job.
Single Sum Benefit
Upon a loss of employment, the insured may apply for payment of a Single Sum Benefit on the ground of advanced age or impaired health status. However, such request shall be subjected to submission of documentary evidence to PSPS.
CLAIMS
Claims Management
You have the right to claim under the scheme when:
You have been in the scheme for a period of not less than twelve (12) months
You have lost your job through no fault of your own.
You have paid premium to-date on your policy
Resident in Nigeria
Once your employment is terminated
You should visit this website and login into your account to lodge the claim or send an email with your valid email address topspsclaims@prestigeassuranceplc.comor Call PSPS dedicated lines on
+234 705 665 0001, +234 811 320 0001
You will be able to view the status of your claims on daily basis by logging into your account on the website.
FAQ:
Kindly subscribe from our website, by filling the expression of Interest (EOI) form here.
You must be 18 years and above to apply for this scheme.
Everyone is eligible to apply for this scheme as long as you are in a full-time/permanent employment.
Yes. The limit varies from industry to industry. Please, call our hot-line to know the minimum salary currently applicable to your industry.
No, the scheme covers only permanent employees in a paid employment.
You will be provided a Debit Mandate form that will enable us to debit your account on an agreed date of every month.
For convenience, we advise our subscriber (the insured) to do a monthly payment. However, the scheme is flexible for any other payment arrangement that is convenient for the insured.
Yes, Group discount is applicable with a minimum membership of 50 subscribers per group.
Your job history and job profile, among others, are some of the factors considered in premium calculations.
For you to have a claim, you must have been a member with a log-in ID. Please, log-in into your account and follow the instruction.
Our team begins your claim payment process immediately. Status of your claims can be viewed from your account.
PSPS will not pay claim when you willingly resign from your job, retire, or terminated as a result of fraud.
You may re-present your complaint to our Claims Complaint Committee (CCC) by sending an email detailing your complaint to pspsclaims@prestigeassuranceplc.com
You will have to be physically present to pick your cheque at our office closest to you once the claims is approved.
PSPS provides a 30-day of free-look window where an individual can opt out of the scheme without any penalty.
You will receive a confirmation email from us on submission of your application form.
As much as we have worked at eliminating our domain downtime, if you experience any such technical challenge, kindly call our customer care line on +234 705 665 0001, +234 811 320 0001.
As much as we are aware about internet scam, we collect minimum information that is irrelevant to scammers. The online platform is secure.
Yes, you can. You will be advised on the new premium for your new job.
Your cheque will be waiting for pick-up as soon as you are available.
An individual may be disqualified if a moral issue arise. Moral issue include falsified report or information.
If you quit your job and not a termination by your employer, you are not entitle to any benefit
You apply for claim benefit if you are qualified
The website has upload link to upload all documents. In addition, you may send such copies to our office physically.
When an active policy holder losses his/her job involuntarily and not as a result of disciplinary action or resignation.