LASACO, LAGOS STATE DISBURSE N799.8M INSURANCE CLAIMS TO FAMILIES OF DECEASED WORKERS

Lasaco Assurance Plc, in collaboration with the Lagos State Government, has paid N799.8 million in group life insurance claims to 148 families of deceased public servants, demonstrating continued commitment to staff welfare and prompt claims settlement.

The disbursement, approved under Governor Babajide Sanwo-Olu’s administration, covers beneficiaries from the State Universal Basic Education Board (SUBEB) and Local Government/LCDA workers. It forms part of a broader effort that has seen over N4.5 billion paid out in similar claims in recent times.

Speaking during the presentation, government officials highlighted the initiative as a reflection of the administration’s priority on the welfare of public servants and their dependents. The seamless process was facilitated through Lasaco Assurance, the state’s long-standing insurance partner.

Lasaco Assurance has a track record of efficient claims payment to Lagos State workers’ families, with previous tranches running into hundreds of millions of naira. The latest payout provides critical financial relief to grieving families amid economic challenges.

This timely intervention underscores the importance of group life insurance in public service and the state’s dedication to supporting families during difficult periods.