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.
- Prospect must have an Annuity Program with Leadway Assurance Company Ltd (LAC).
- The annuitant must have a guaranteed period of at least 4 years with LAC.
- Must have a Bank Verification Number (BVN) from the bank.
- Must have a valid e-mail account for loan request application online.
- Annuitant must have handy his / her Policy number, Phone number (registered with LAC), BVN
- Loan amount is repayable over a maximum period of 3 years.
- Interest rate is determined from time to time by Leadway Capital and Trusts Limited.
It currently stands at 21.5%.
- Monthly Repayment Amount must not be more than 33.33% of Annuitant Annuity.
- Net Annuity after loan deduction must not be less than 66.66% of Annuitant Annuity.
- Monthly net annuity after loan repayment should be a minimum of N18,000.