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.


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 is the most revered act of honour and privilege to carry in your hands; those who once carried you on their shoulders” – Adesuyi Adesina.
“Calling elder abuse a maltreatment is to take it lightly, it is an irredeemable and irremediable act” – Adesuyi Adesina.
Any act of violent and non-violent maltreatment of older people, either in private or public by family members, close associates, strangers and institutions.
According to World Health Organisation (WHO), elder abuse was first described in British Scientific Journals in 1975 under the term “granny battering”
This is to let you know that it is a long aged problem.
Furthermore, (WHO) has said only 30% of the world’s elderly are covered by pension schemes. If you go through WHO fact sheet 2018 
You will discover that 1 in 6 people, aged 60 years and above suffered abuse within the community. 15.7% of people aged 60 years and older were found to have suffered some form of abuse in a study conducted among 28 countries with about 52 studies.
Let me not bore you with statistics, but it is obvious that if developed countries are having this level of problem, then it will be more alarming in the developing countries. Nigeria, for example has no health insurance cover for older persons, let alone housing for them.
Also, there is no system in place to protect them from abuse.  WE HAVE WORK TO DO!
Let us look at this under the following subheadings:
PHYSICAL ABUSE : This involves hitting, pushing and mal-handling them.
PSYCHOLOGICAL ABUSE : This is using foul, abusive and derogatory words when talking to them. It also involves hurting them emotionally.
FINANCIAL ABUSE : This comes as either spending their money without getting consent from them, or not giving them enough money that can take care of their need. This attitude alone can make them end up on the street as beggars.
SOCIAL ABUSE : When you deny them of social activities, and it is not of any health and safety benefits to them, this is tantamount to abuse. In addition, it includes any form of incarceration.
SEXUAL ABUSE : There has been a few report of sexual abuse in older persons. Therefore, be very sure of who you are leaving  them with. Always do due diligence before committing them to any care home.
Abuse can be classified as follows:
✓ Neglect
✓ Abusive
✓ Exploitative
Who are the people that perpetrate this evil? It will interest you to know that they include:
FAMILY MEMBERS : I am always baffled when I see people treat their elderly parents with disdain, this is gross irresponsibility! Such a  barbaric act should be punishable under the law.
SPOUSE : This is likely to happen if you have your older persons living with you. It is important that you truly talk things out with your spouse before going this route.
STRANGERS : These group of offenders are the most dangerous, they cause harm physically, emotionally and otherwise to the elderly, and walk away with no shame or any iota of guilt. Please protect your elderly parents from strangers.
INSTITUTIONS : Most institutions do not have any consideration for the elderly, especially public institutions. We must begin to change this horrible act. Whether you work in a public or private institution, I want you to be an advocate for enviable and laudable senior citizens treatment. After reading this post, I want you to make a conscious decision to be nice to older persons in your society, always be ready to help and defend them.
  • Injury
  • Hunger
  • Stigmatisation
  • Depression
  • Suicide
  • Disability
  • Death
Seriously are there solutions to this absurd act? Yes, there are solutions, and it starts with you.
I. BE AN ADVOCATE FOR THE ELDERLY : The world will be a better place if we all change, one person at a time. This is one of my major goal, to create awareness, reorientate people and drive it into their consciousness, that our senior citizens deserve to be treated with respect. I am making you an ambassador for the elderly, it is your duty from today to start looking out for them.
II. NATIONAL ELDER ABUSE PREVENTION CENTER : Countries like Canada and Australia have what is called; Canada Network For Prevention Of Elder Abuse and Australia Network For Prevention Of Elder Abuse respectively. While in UK they have what is called; Action On Elder Abuse. With God on our side, this is the kind of policies that Ganat Healthcare Initiative will be pushing for in no distant future.
III. FORMULATION OF LAWS : This is highly needed, mostly in developing countries. There should be a bill containing the detailed rights of the elderly ones amongst us, of course such bill will need to be sponsored. If you have the capacity to sponsor such bills, kindly get in touch, Ganat Healthcare Initiative will be glad to work with you, and posterity will never forget you.
IV. UNITED NATIONS INVOLVEMENT (UN) : Ganat Healthcare Initiative is joining her voice with other NGOs and international organizations calling on the UN and WHO to ensure that their member countries prioritise senior citizens protection and keep them from abuse.
All over the world, June 15, has been designated as WORLD ELDER ABUSE AWARENESS DAY.
This day is an international UN observance day, which came into existence as a result of the UN resolution 66/127.
I am using this opportunity to plead with you to reach out to the elderly people around you, touch their lives positively, even if it is one person. No act of kindness is too small, make June 15, a special day for one elderly person around you. All things being equal, Ganat Healthcare Initiative is planning to have an online broadcast looking at the legal, medical and psychological aspects of elderly persons abuse on that day.
Again, I like to thank you for reading this far. I look forward to your contributions, suggestions and questions. Thank you.
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.


“Family provides us with the feathers with which we take our first flight in life”- Adesuyi Adesina.
Michael J. Fox puts in a fantastic way by saying “Family is not an important thing, it’s everything.” Family is the fundamental unit of every society. No one needs the support of family more than the elderly or senior citizens.
Most times, older persons are often neglected by their families, as a result of their pursuit of other life events, we can be busy with work, we can be far away in another country and forget to care for them.
My post today is to challenge you to do better, you can do better, and I will be sharing with you how to do that.
Everybody does need the support of family, we all need one another. However, I have identified three (3) categories of people that need it more. If you have anyone in the categories below, please, do whatsoever is in your power to give them the needed support.
– Children
– People with disabilities
– Elderly/Senior citizens ✓
1. VISITATION:  As simple as it sounds, this is the most important thing among all the things I will be sharing with you today. Visiting your aged parents, uncles, aunties and family members will help you discover a lot. Such as, their living conditions, health and well being. You will have one on one conversation with them. This is golden! I enjoy talking to my mother, just sitting by the bedside and talking to her. It always feels great.
2. MONTHLY UPKEEP: You have to make conscious effort to include them in your budget. Write it in your diary and be committed to it. Just like you budget for your car, home and projects. Your elderly ones should be included. Most people give their aged parents what is left after they have spent almost all the money on other things. This is wrong. I want you to write this in your diary today: MONTHLY BUDGET FOR MY AGED PARENTS = { put a figure you can keep up with every month} You will be glad you did.
3. MEDICAL CARE: Every senior citizens should have a primary care physician. This physician will know them personally, this is the doctor who takes care of them when they are sick, he also refers them to a specialist if they need a specialist care. I want you to look around where your aged parents live, find a primary care physician in either a private or public hospital and register them there. You can also request for home consultation for them, the healthcare workers will come and meet them at home to attend to their health needs. This can be a little expensive.
4. CARE GIVER: It is important to say that I know most people are busy with work, business and other projects. Some people do not even live in the same town or country with their aged parents. The option of a care giver or home assistant can be explored. This is a process whereby you employ someone to look after and care for your parents. If you are doing this, ensure you do the followings:
– The care giver must be screened medically
– Ensure the care giver is responsible
– Care giver must provide references
– The duties of the care giver must be clearly stated
– Care giver must have the capacity to carry out stated duties.
5. CARE HOMES: There are elderly care homes all around us. If you are not around, and there is no one to look after your elderly parents, please consider this option. Do not leave them alone at home, they can be left for few hours, but not days, months and years. There are good elderly homes you can put them. At Ganat Healthcare Initiative, we are waiting for this COVID-19 pandemic to taper down before we launch our Elderly Care Home, which is going to be free by the grace of God, and the help of our sponsors and donors.
6. SOCIAL OUTINGS: Socialisation should be encouraged among senior citizens, they should be encouraged to go to church, mosque, parks and other lovely places. This will improve their mental health status, and allow for minimal exercise. Unfortunately, this may not be practicable at the moment due to the ongoing pandemic.
7. NUTRITION: I have written about this in my previous post. Kindly refer to my post here to learn more about this.
8. EMOTIONAL SUPPORT: This is very important, and  should come from family members. The aged in our societies deserve our support in little things, apart from providing for their needs physically, their psychological well-being is equally important. This will make them live longer and stay healthier.
This is how to demonstrate love for older persons, let them know you care about them. I want you to cultivate the habit of loving older persons specially. Let me end with the words of Friedrich Nietzsche ; “In family life, love is the oil that eases friction, the cement that binds closer together, and the music that brings harmony.” And  Barbara Bush said ; “To us, family means putting your arms around each other and being there.”
Thank you for reading this far, your comments and questions would be appreciated.
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.