Life Insurance For Senior Citizens

In recent times, we have witnessed a lot of political, economical and environmental upheavals in different climes of the world.
Lives and properties have been lost in the process of these events. From black lives matter in the United States to End SARS protest in Nigeria. Also, Sudan, Guinea, Zimbabwe and many other countries are not left out.
A lot of people have lost their bread winners or bread winner to be, while others have lost their older adults to these recent events. What is life insurance? What role  can life insurance play in times like this? What are the types of life insurance that you can take advantage of? All these questions will be answered in this post as you read on.
It is my hope that at the end of this post, you would be moved to action!
This is a legal agreement between an individual (policy holder) and an insurer/assurer ( insurance companies, banks and financial institutions), where the insurer promises to pay a designated amount to a named beneficiary in exchange for a premium, upon the death of an insured person (policy holder).
Policy Holder: This is the one whose life is to be insured.
Insurer/Assurer: This refers to financial institutions that have the right to insure people/properties.
Premium: This is the amount you pay every month to keep the policy active. IT WILL INTEREST YOU TO KNOW THAT SOME POLICIES COULD BE AS LOW AS ($2) THAT IS EQUIVALENT TO TWO THOUSAND (2,000) naira/ month. I am sure a lot of us spend well above this on recharge cards and internet subscriptions. You wouldn’t know if you don’t ask.
There are several types of insurance portfolios, ranging from:

• Property insurance

• Car insurance

• Fire insurance

• Professional indemnity insurance

• Life insurance                     

• Others

Imagine if the victims whose properties and cars were damaged during protests all had insurance. Even though, it was a tragic event, they would all replace those things without any sweat. That is the power of insurance. Like I said, I will be focusing solely on LIFE INSURANCE in this post as it relates to the elderly or senior citizens.


This is when an individual has an agreement with an insurance company to pay a fixed amount at his or her death to a next of kin, based on his or her premium payments. Just think about this, if every parent who had died at the age of 75 years took on an insurance at 45 years of age , they would probably leave about 15million naira to their next of kin as insurance benefits! This wise decision by some late parents have given the children they left behind  better lives!


1. The fear of monthly premium payment, it is not unusual for humans to be afraid of what they have little knowledge about. However, I would encourage you to visit insurance companies and find out how you can get a life insurance for your elderly ones, you would be surprised they have different packages, and you will definitely see the one you can afford.

Let me surprise you, if you enrol for an insurance policy at age 59 and you agree to pay the premium for 20 years . It will only require you to pay just as little as 7% of your monthly earnings, which is lesser than the amount you pay for several subscriptions like DStv, airtime, data and so on.
If you have this kind of policy, you might not die a multi-millionaire, but at your death, your children would be millionaires. Please think about this.

2. Fear of death, a lot of people believe if they should enrol for a life insurance, it is like inviting death more quickly. This is so not true! Death is an inevitable end for all, but the wisdom to get a life insurance is for a few, and only the wise prepare for their deaths.
3. Fear of loosing money. A lot of people might ask, what if I didn’t die at 70years of age, and my policy would lapse at age 70, what would happen to my money?
For every problem there is a solution if you dare to ask and seek for it!
There are two things you can do to ensure you do not loose money.
A.  You can apply  for a “CONVERSION ORDER” towards the end of your policy. For example, if your policy is 10years, and you are already at the tenth year, you can tell your insurance company to convert your policy from “TERM LIFE POLICY” to a “WHOLE LIFE POLICY” Do not worry, you would understand the difference between the two when I talk about the types of life insurance.
B. You can opt for ROP (RETURN OF PREMIUM), this helps to prevent the forfeiture of your money. For instance, if your life insurance policy is for 20 years and you applied when you were 50years old. It means that if you didn’t die at 70years the money would go to the insurance company. However, if you die before the 20 years, the assured  amount would be paid to your next of kin or a named beneficiary.
Therefore, people can loose money in insurance, but to prevent this, you can take advantage of the ROP. In ROP package, at the end of the stipulated time if you are still alive, the issurer ( your insurance company) will start paying you back your premium! Thus, it becomes a form of savings plan for you. It is a win-win, you just need to know what to do in life, and you are a winner!
Do not forget, you have two choices in  safeguarding your life insurance package:

•Conversion order ( CO)

•Return of premium (ROP)


Like I said, life insurance is just one out of many insurance packages available out there. Just like there are different types of insurance, also there are different types of life insurance:
I. Term Life Insurance: under this type of life insurance, life is only insure for a determined period of time. For example, a 35 years old man can insure his life for 35years. This means he only has 35 years coverage. If  he dies within this period, the benefits go to the named beneficiary. If he lives beyond this period, the entire money would be forfeited to the insurance company, except there is a conversion order.
II. Whole Life Insurance: this simply means your insurance policy would cover you from the moment you apply till one’s death. The implication of this is the fact that you might have to pay more premium. However, do not forget that more premium means more benefits to your named beneficiary at your death, and you won’t be needing a conversion order.
III. Instant life insurance: this type of life insurance is for a very brief period, it requires very small amount of premium, and it is renewable. But the benefits if attracts may not be as high or robust as the two above.
* In case of sudden illness and eventualities, the insurance company will be right there to help.
* It prevents you from going into debts because of burial arrangements.
* There would be enough money to maintain or execute their intending legacy.
* It is a wise way of breaking the chains of poverty.
* The benefits become a source of capital for the named beneficiary.
My friend, if you have a stable source of income get a life insurance for yourself, and get for your parents if they cannot afford to get for themselves. Make it a family tradition, this is wisdom!


  •  Banks
  •  Leadway
  • Axa mansard
  • Custodian
  • Liberty Mutual
  • Berkshire Hathaway
  • AIG
  • AM Trust Group
Some of the companies listed above are not based in Nigeria, but the ones that are based in Nigeria are there too.
Also, it will interest you to know that some of the companies have online platforms, hence they have helped you out in eliminating the stress of visiting their offices. You can apply online, and monitor your account through their online platforms. Notwithstanding, visiting their branches for more information would be a wise move.
Kindly note, I do not take any responsibility for your financial decisions, I have only shared with you what I think will be of great benefit to you and your elderly ones. For the avoidance of doubt, I have not collected a Penny from any of the above companies to list their names here.
Thank you always I await your comments and contributions.
My name is Adesuyi Adesina, the founder and CEO of  Ganat Healthcare Initiative and Ganat Empire Limited. I am passionate about the care and health of older persons in our society. Senior citizens deserve good elderly care homes and better healthcare services.


OCTOBER 1ST of every year, which coincides with Nigeria’s independce is actually a day designated by the United Nations to examine, analyse, celebrate laudable policies and formulate new policies that center around older persons globally.

Year 2020 marks the 75th Anniversary of the United Nations and the 30th Anniversary of the International Day of Older Persons.
  •  According to the United Nations, By 2020, the number of people aged 60 years and older will outnumber children younger than 5 years.
  • United Nations has also projected, that over the next three decades, the number of older persons worldwide is projected to more than double, reaching more than 1.5 billion persons in 2050,and 80% of them will be living in low- and middle-income countries.

“The world marks the 30th anniversary
of the international
Day of Older Persons as we recon with the
disproportionate and severe impact the COVID-19 pandemic
has wrought on older persons around the world – not
only on their health, but on their rights and well-being.”



General Antonio Guterres

United Nations Secretary-General

The deplorable state of the elderly care and and welfare in Nigeria is beyond comprehension. When you take a look at how senior citizens in our dear country Nigeria are being treated, you cannot but think twice about your future as an individual.
Not many people know that in the constitution of Nigeria, old age care/elder Care is  embedded in it. It is the responsibility of the government to ensure that senior citizens are not marginalized.
Fundamental human rights is clearly entrenched in our constitution and this includes the older persons or senior citizens.
• Section 14.2 (b) of Nigeria constitution states that “the security and welfare of it’s people shall be the primary purpose of the government.”
In the section quoted above, it clearly involves all the citizenry, the question therefore is, Are there systems and policies in place to protect the senior citizens, and to ensure their welfare ?
• Section 16 (2) (d) of the Constitution further states that “suitable and adequate shelter and suitable and adequate food, reasonable national minimum living wage, OLD AGE CARE and pensions and unemployment, sick benefits and welfare of the disabled are provided for all citizens.”
In section 16 (2) (d) above, you  would see that I intensionally put old age care in capital, to let you know that the care of senior citizens is well captured within our constitution. Also, the question remains, despite this constitutional provisions, what policies, systems and programmes has the government put in place, to ensure that this portion of our dear constitution is adhered to?
It is not a fallacy to say that the Nigerian government from one dispensation to another has not done much, when it comes to the care of the elderly in our society.
• In 1989, the Nigeria government developed the national social development policy which is aimed at providing a framework for protecting the elderly from moral and material neglect.
• It was recorded that Senator Ganiyu Solomon of the Action Congress of Nigeria, sponsored a bill for “an act to establish a NATIONAL CENTER FOR ELDERLY PERSONS, for general purpose of providing welfare and recreational facilities for the elderly, and the designing of developmental programmes and activities for the advancement of elderly persons in Nigeria.” This bill was passed on 14th July, 2009.
• Also, senator Anyim Use of the People’s Democratic Party was said to have sponsored a bill ” for an act to provide social security for unemployed graduates and the aged in Nigeria and for purposes connected thereto” in June  2010.
• The National Policy on the care and welfare of elderly persons is yet to be implemented.
President Buhari led administration signed into law a bill “National Senior Citizens Acts 2018.” This bill provides for the establishment of National Senior Citizens Centers by institutions and the three tiers of government in the country to cater for the need, care and orientation of senior citizens.
While we appreciate the signing of this bill into law, unfortunately, it has neither been talked about nor implemented, after the assent of the President.
Nigeria has approximately 9.3 million elderly people according to National Population Commission (NPC). 
World Health Organization has said that between 2015 and 2050, the proportion of world’s population over 60years of age will nearly double from 12% to 22%. This corroborates the projection of the United Nations.
Unfortunately, Nigeria is not preparing for this. It is a crisis waiting to happen, and this is why we must begin to put policies and programmes in place to prevent this avoidable crisis from happening.
Going by the statistics from the United Nations and World Health Organization above, it is evident that time is running out, and the government needs to act on time, by doing the followings:
• Implementing the law establishing National Centers for senior citizens at the Federal, State and Local government levels.
• Having a robust database  for the elderly, this will ensure adequate capturing and it will greatly help in planning programmes and projects for the older persons.
• Other steps  that the government need to take can be seen here ENSURING A PEACEFUL LIFE FOR OLDER ADULTS/ SENIOR CITIZENS Kindly read it up.
• Also, learn your role as individuals and family members on how to ensure that your elderly ones have the best of life here : THE ROLES OF FAMILY MEMBERS IN ENSURING THE WELLBEING OF THE ELDERLY.
Tanyi et al; Cogent Social Sciences, Care of the elderly in Nigeria:Implications for policy (2018).
Magnus Eze, Old Age Legislation in Nigeria,   
My name is Adesuyi Adesina, the founder and CEO of  Ganat Healthcare Initiative. I am passionate about the care and health of older persons in our society. Senior citizens deserve good elderly care homes and better healthcare services.


An inch of caution and prevention is far more better than yards of correction and curative methods.
Promoting healthy ageing is one of the things we do at Ganat Healthcare Initiative. Healthy ageing is defined by the world report on ageing and health as the process of developing and maintaining the functional ability that enables well-being in older age (WHO).
One of the ways the above definition can be achieved is through ROUTINE AND SPECIFIC MEDICAL CHECK-UP FOR SENIOR CITIZENS.
• Anyone above the age of 45years should routinely do this test, so it’s not just only the senior citizens.
• It helps to detect if your body is not making use of the sugar adequately. This is referred to as diabetes.
• This is a simple test that should be done regularly in anyone above the age of 45years, as a matter of fact, it is routinely done in the hospitals. Even if you come everyday.
• It helps to detect those with blood pressure problem early, which is known as Hypertension.
• Hypertension is a silent killer, so without this test, people might be hypertensive and be fine physically. Meanwhile, they are dying inside.
• It is not unusual to see people develop stroke ( inability to use some parts of the body and or speech loss) suddenly, this is as a result of uncontrolled Hypertension, which could have been well controlled if detected early.
• When lipid is within normal level in the body, it helps in building the cell memebrane, insulation, energy storage and cellular communication.
• However, if the value becomes too high , especially the Low density lipoprotein (LDL) this can cause heart diseases and even stroke.
• If detected early, you would probably be advised on dietary modification, lifestyle changes and drugs if necessary.
• This is recommended for anyone above the age of 35years and not just the elderly alone
• This test allows your Healthcare professionals to know if your blood level is low or normal. Also, it helps us to know if  there is any infection going on within the body by interpreting the parameters.
• This test is a routine test for all age group, and not just the elderly.
• The kidneys help in getting rid off toxic waste substances from the body . Therefore, any damage to the kidneys will lead to the accumulation of these substances in the body, and this could be very damaging to human health.
• Anyone from the age of 45years should do this once in a year.
• Also, adequate water promotes the proper function of the kidneys.
• One of the organs of the body affected as people age is the eye.
• Yearly eye check is encouraged in the elderly.
• This is done to check for wax,dirt and hearing capability.
• The physical examination , that is checking for wax, dirt and foreign bodies can be done routinely, while the hearing capability test (Audiogram) can be done yearly.
• This involves viewing the lower part of the large intestine starting from the rectum with the aid of a camera-like flexible instrument, known as colonoscopy.
•It helps to detect any abnormal leison or polyps, and a biopsy would be taken if there is any changes for the purpose of definitive diagnosis.
•Cancer is treatable if detected early before spread. Hence, routine colonoscopy every ten (10) years starting from age 45 years to about 74years is highly recommended.
• This is specifically for older men, however, people should start screening for prostate cancer from 45years old and above.
• With a simple digital rectal examination (DRE) your attending physician might suspect a prostate cancer and take a biopsy for histology which would aid in the definitive diagnosis.
• Also, prostate-specific antigen (PSA) levels can help in the diagnostic process.
• Early detection gives a very favorable outcome.
• Breast x-ray is called (mammogram) by health professionals. It helps in taking a picture of the breast for proper examination. 
Women over 55 years of age should have mammogram done every two years, while women of 45-54 years should have it done once in a year.
• Self breast examination is the ability to examine your breast on your own following an approved pattern . Every woman from reproductive age group to elderly should be able to do to this. It helps in early detection of lumps within the breast tissue.
• Cervical cancer is one of the cancers that affects women. I am not going to bore you with epidemiology, my simple goal is to let you know how this could be prevented by going for the appropriate test.
• The screening for cervical cancer is pap smear.
• It is often done routinely from 25 years old.
• It is done 3 yearly from 25 to 39 years old or 5 yearly if done with HPV (Human papilloma virus) test.
• It is done 5 yearly between 40 to 54 years old.
• It is only done above 65 years if the person has never been screened before the age of 50years, or if there are symptoms suggestive of cervical cancer.
Elderly care, like I said in my previous posts does not start at 65 years . It starts from birth. Your health status at 65 years would be a direct reflection of how you have managed your health since  birth. You would realize that most of the tests I discussed in this post are often commenced from when people are at adulthood and middle age, not when they are elderly at 65years.
If you are at your adulthood or middle age and you are reading this, you would do yourself a huge favour by making this medical screenings a priority.
Likewise, if you have aged parents at home, please do take them for some of these tests.
Admittedly, some of the tests may not be necessary at some age, your physician would advice you more on this.
My name is Adesuyi Adesina, the founder and CEO of  Ganat Healthcare Initiative. I am passionate about the care and health of older persons in our society. Senior citizens deserve good elderly care homes and better healthcare services.


It was Haruki Murakami who said; DEATH IS NOT THE OPPOSITE OF LIFE, BUT A PART OF IT. It is not easy losing loved ones to the cold hands of death, even when they are aged. However, the understanding and acceptance of Haruki’s statement would greatly help us through this inevitable process of life.
My focus in this post is to help you understand  what you  can do, as you watch your elderly or aged ones go through this stage of life.
I. LACK OF INTEREST IN ACTIVITIES : As death approaches, the elderly people at this stage of life become withdrawn, nothing seems to attract them at this point . Their attention span at this point would have greatly nosedived. Most times, they just want to be left alone.
• Do not force them into any activities.
• You can talk to them about activities they are normally interested in.
• Let them know how they have touched your life, or that of some else through such activities.
• If you have a video record or pictures of such activities you can show it to them.
• Let them know it is absolutely alright if they no longer have the strength to do these things. It gives them a sense of satisfaction and fulfilment.
II. ANXIETY : The fear of unknown would be so palpable at this point. The religious ones would probably be thinking about heaven or hell, they have not been there, but they have heard about it. Others might be thinking about their past lives, companies and families they are going to leave behind. They wish they could have a glimpsed of what would happen and not knowing this, is what actually breed the fear of unknown.
• Be quick and don’t be tired of reassuring them 
• Be hopeful around them.
• Let your speech and thoughts be positive around them.
• Allow them to express how they feel, it makes them feel better and it will help you to understand how you can be of help.
• Don’t be judgemental in addressing any concerns raised by them.
• Respect their spirituality and grant their desire to see their clergymen or perform their spiritual rituals. It leads to a peaceful death.
III. POOR HYGIENE : During the final stage of life, the loss of personal and environmental hygiene are mostly common. Personal hygiene such as , brushing the mouth, toilet hygiene and even bathing would be affected. Some senior citizens might not be able to control their stool ( faecal incontinence). Similarly, they need help with environmental hygiene.
• Ensure their oral care by brushing for them with toothbrush or cotton wool depending on the situation if they already lack the ability to do so.
• Check and clean their anus at intervals when soiled with faeces.
• Attend to their hair by combing it.
• If they are not ambulant, carry out bed bath by cleaning the body with soap, water and a small bath towel.
• Make sure their surroundings are clean and free from objects that can injure them and cause further harm.
IV. DIFFICULTY IN BREATHING : Grunting or laboured respiration is  not uncommon  at the final stage of life. At this point, oxygen or suctioning would probably not do any good . It is mostly not necessary.
• Put them in a more comfortable position.
• Invite a home health professional for review.
V. IMMOBILITY : Often, final stage of life can occur in combination with some ailments, which can render patient immobile or bed ridden.
• Turn elderly from side to side every 2hours to prevent pressure sore.
A dying elderly person would probably not be able to eat.
• Perform mouth care at least twice daily to increase appetite.
• Offer water with straw if they are able to sip.
• Do not force feed them.
VII. EXCESSIVE SLEEP AND COLD: This is very common at a dying stage.
• Do not startle them.
• Do not raise your voice at them.
• You can tap or speak to them gently , they might be sleeping but most times they still hear.
• You can play their favourite music.
• You can sit beside them and gently touch them and hold their hands, they might not be able to talk sometimes but they can feel.
When it is time to bid someone who is at the final stage of life farewell, there are seven rules you must follow:
1. Be physically present. This is priceless, the worth cannot be quantified. The satisfaction is enormous!
2. It is not a one time thing. It is what you do every time as the person goes through the stage of dying.
3. There are several ways of saying it. Sometimes, it is by putting a flower beside them, at other times, it might be by placing their head on your laps, and another way is by saying it. Also, you can bring their grand children to bid them farewell.
4. Let them know they are forgiven if they have ever hurt you. Nothing is more important at the final stage of life than reconciliation and making peace.
5. Let them know their last words would be cherished.
6. Ask or write it in a paper, asking them if there is anything they would want you to do for them. That is if they can still comprehend.
7. Let them know it is normal to die, this brings about acceptance on the part of the dying person and the person saying farewell.
My name is Adesuyi Adesina, the founder and CEO of  Ganat Healthcare Initiative. I am passionate about the care and health of older persons in our society. Senior citizens deserve good elderly care homes and better healthcare services.