Students Welfare Insurance Scheme(SWIS)

The main objective of the scheme is to provide very cheap and unique group insurance coverage for the students of higher institutions.

Your information will be treated with utmost confidentiality.

Student Welfare Insurance Scheme is designed taking into consideration the peculiar needs of students through provision of benefits commensurate with the nature of risks they are generally exposed to.

Who it is for?

Tertiary Institutions: Public & Private Universities, Polytechnics, Colleges of Education
- The institution is the policyholder while the students are the insured lives.
- The scheme is arranged to provide benefits in the event of death only.
- Policy grants cover for both accidental and natural death. Premiums are usually paid by the Employer only.
- Policy is renewable annually.
- Coverage is on 24 hours basis.
- Provides Lump Sum cash benefits for the dependants.
- Scheme is essentially non-medical, except for individuals with insurance in excess of the Group Free Cover limit.
- All or part of the benefits can be converted to Dependants Annuity until the last dependant attained the age of 21years.
- Benefits under the group policy can be converted to individual policy after separation.
The scheme covers the insured persons (students) against death resulting from accident or natural causes at all times (24 hours). This protection exists even on and off the campus.
Permanent Total Disablement implies that such an injury must not only be permanent (i.e without chances of recovery) but it must also involve a total loss of ability to earn income. The injuries under this heading include:
  • Loss of both eyes or loss of two limbs or loss of one eye and one limb
  • Loss of eye must be total and irrecoverable while loss of limb means loss or physical separation at or above the wrist or ankle.
This is to cover medical and hospital expenses incurred in the treatment of the insured person. Medical expenses are not usually paid in isolation. For expenses to be recoverable from the insurers, the insured person must have been involved in an accident, which resulted in injury. Thus, this scheme is designed to protect the insured students against bodily injury resulting directly from accident caused by external, violent and visible means.
  • External: Something outside the body must have activated the injury.
  • Violent: This coincides with the general idea of accident, usually the smallest violent event suffices.
  • Visible: The triggering cause of injury must be visible.
  • Accidental Injury: Accident refers to an unexpected, untoward or unplanned event. The scheme does not cover deliberate or self-inflicted injury.
Therefore CULT related injuries or deaths must be proved otherwise by the school authorities for the claim to be sustained. Cult members will not be covered in the event of any injury resulting from cultism.
For the purpose of this scheme, the institution is the insured while the students of the school are the insured persons. In the event of any claim, the discharge of the insured is good enough and no insured person has an independent action against the insurers.