Calculate Your Estimate
▾| Component | Amount |
|---|---|
| Income Replacement | — |
| Debt Coverage | — |
| Education Fund | — |
| Total Need | — |
| Existing Cover | — |
| Gap (Insurance Needed) | — |
Nigeria Life Insurance Needs Calculator — What You Need to Know
Calculate your life insurance needs in Nigeria. Factor in dependents, debts, education costs, and income replacement to find the right sum assured. Use this free calculator to get a quick estimate before contacting insurance providers.
Third-party motor insurance in Nigeria is NGN 15,000/year (NAICOM standardized since Jan 2023), covering up to NGN 3M in third-party property damage. Major providers include Leadway, AXA Mansard, AIICO, NEM Insurance, and Custodian. Verify your policy at askniid.org or dial *565*11#. The market is regulated by NAICOM (National Insurance Commission), with insurance penetration at 0.5% of GDP.
Disclaimer: These are estimates based on market data and published rates. Actual premiums depend on individual circumstances, insurer assessment, and negotiation. Always get formal quotes from licensed providers.