You can apply below.
- An annuity loan is a type of loan where an annuity holder (Annuitant) borrows money against the cash value of the annuity contract with the insurer (Leadway Assurance Company Limited).
- An Annuitant makes a loan request online and the Borrowers (Annuitant) usually have up to three years to repay an annuity loan.
- Annuity Program with Leadway Assurance Company Ltd (LAC).
- Must be below 69 years of age at the time of application and repayment period allowed cannot exceed the 70th birthday of the prospect.
- Valid Bank Verification Number (BVN).
- Valid e-mail account (updated with Leadway Assurance Company) for loan request application online.
- To proceed with online application, prospect must have handy his / her Policy number, BVN, Phone number (as registered with Leadway Assurance Company Ltd)
- Loan amount is repayable over a maximum period of 3 years provided prospect remains below the age of 70 throughout the repayment period.
- Interest rate is determined from time to time by Leadway Capital & Trusts Limited. It currently stands at 27.5% (Inclusive of Insurance Cost).
- Monthly / Quarterly / Bi-Annual / Annual Repayment Amount must not be more than 33.33% of Prospect’s Annuity.
- Net Annuity after loan deduction must not be less than 66.66% of Prospect’s Annuity.
- Minimum Loan Amount is NGN 100,000 (One Hundred Thousand Naira Only).
- Maximum Loan is determined by age of applicant and tenor desired as shown in link below