Simple, affordable microinsurance products designed for individuals, SMEs, cooperatives, and lenders — no medical exams, no bureaucracy, claims settled in 48 hours.
4
Core Products
48h
Claims Settlement
Flexible
Cover Levels Available
0
Medical Exams Required
01 · Credit Life
Active
Loan Protection
Single Premium at Disbursement
02 · Personal Accident
Active
Travel (per trip via transport partners)
Bank Account monthly cover for accidental death and medical expenses.
Broker CommissionsCompetitive rates for all channels
Our Products
Four products. Every need covered.
From protecting a loan to covering funeral expenses — our microinsurance products are built for the real Nigeria.
Product 01
🏦
Credit Life Insurance
Settles your borrower's outstanding loan balance upon death or permanent disability. Single premium at disbursement — no recurring collections.
Single PremiumUp to ₦2M48h ClaimsNIIRA 2025
Learn More
Product 02
🛡️
Personal Accident Insurance
Accidental death and medical expense cover for transport passengers and bank/fintech customers. Cover starts Day 1 — no waiting period, no health checks.
Travel / Bank AccountFlexible PremiumsBank & Transport Partners
Learn More
Product 03
👥
Micro Group Life Insurance
Annual death-in-service benefit for SMEs, cooperatives, and market associations. Satisfies PRA 2014 employer obligations for groups of 5+.
5+ MembersPRA 2014 CompliantTax-Deductible
Learn More
Product 04
🕊️
Final Expense Insurance
A lump-sum paid directly to your beneficiary to cover funeral, burial, and end-of-life costs. No receipts required. Six tiers from Bronze to Platinum.
6 PlansMultiple PlansMonthly Option
Learn More
How It Works
Getting covered takes minutes.
1
Choose a Product
Select the cover that fits your need — Credit Life, Personal Accident, Group Life, or Final Expense.
2
Fill the Proposal
Simple 3-step form. No jargon. No medical exam. Takes under 5 minutes.
3
Get Your Policy
Policy document issued digitally after premium confirmation. Cover begins immediately.
4
Claim with Ease
Submit documents via our online portal, email, or in person. Claims settled within 48 hours.
Our Numbers
A trusted name in Nigerian microinsurance.
NAICOM
Licensed & Regulated
4
Core Products
48h
Claims Turnaround
₦0
Medical Exam Cost
Why YES?
Built for the real Nigerian market.
✓
No medical examination requiredAll our products are accessible without health checks — cover starts from Day 1.
✓
Claims paid in 48 hoursFrom submission of complete documentation to payment — guaranteed on all products.
✓
NAICOM-licensed and compliantFully regulated composite microinsurer. NIIRA 2025 compliant for credit life mandates.
✓
Broker-friendly commissionsCompetitive commission rates for broker, bank, and transport company channels. Onboarding in 5 business days.
✓
Broad distribution channelsPersonal Accident cover distributed through transport company partners and bank/fintech channels.
Ready to protect what matters?
Start a proposal in under 5 minutes. No medical exam. No complicated forms. Cover from Day 1.
Our Products
Simple cover. Real protection.
Four microinsurance products designed without complexity. No medical exams. Claims settled in 48 hours.
Product 01
Credit Life Insurance
Protects lenders from loan default caused by borrower death or permanent total disability. Single premium charged at disbursement — outstanding loan balance settled directly with the lender on valid claim.
Key Features
✓
Single-premium term policy — one payment at disbursement covers the full loan tenor
✓
Covers accidental death (all causes) and permanent total disability (PTD)
✓
No medical examination required — simple, fast onboarding
✓
NIIRA 2025 compliant — satisfies NAICOM's credit life mandate for facilities ≥ ₦10M
✓
48-hour claims settlement — proceeds paid directly to the lender
✓
Portfolio discounts available for lenders with recurring loan portfolios — contact us for rates
How Pricing Works
📋
Tailored to your loan portfolio
Premiums are calculated based on loan amount and tenor. Submit a proposal and we'll send you a personalised quote within 1 business day.
Factors considered
Loan AmountLoan TenorPortfolio Size
Product 02
Personal Accident Insurance
Pays defined benefits upon accidental death or medical expenses from accidental injury. Available via Travel (per trip for road/rail transport partners) and Bank Account (monthly via partner banks and MFBs). No waiting period — cover from Day 1.
From
Flexible
Core Benefits
✓
100% of sum assured paid as lump sum to beneficiary on accidental death
✓
20% sub-limit for medical expense reimbursement (Travel: full sum assured)
✓
No medical examination at any tier
✓
Cover commences from date of first premium confirmation — zero waiting period
✓
Distributed through transport company ticketing and bank/MFB/fintech partner channels
Available Cover Tiers
Basic
Entry-level cover for everyday protection
Standard
Balanced cover — our most popular option
Enhanced
Comprehensive protection for higher needs
📋
Get your personalised quote
Premiums vary by sub-product and cover tier. Submit a proposal and receive a detailed quote within 1 business day.
Product 03
Micro Group Life Insurance
Annual group life cover for SMEs, cooperatives, market associations, artisan unions, and any organised group of 5 or more members. Provides a lump-sum death benefit and helps employer-groups meet their obligations under the Pension Reform Act (PRA) 2014.
Group Type
Any Organised Group
Key Features
✓
Lump-sum death benefit — all causes, paid to nominated beneficiary of each member
✓
Helps employer-groups satisfy obligations under PRA 2014 Section 4(5) — also available for non-employer associations and cooperatives
✓
Entry age: 18–60 years. No medical examination required
✓
Cover sized to the group's income or contribution level — flexible structuring available
✓
Premiums are tax-deductible for the employer; death benefit is income-tax exempt
✓
Pro-rata commission paid on mid-year additions
How Pricing Works
📋
Quoted per group profile
Premiums are based on group size, member income levels, and the nature of activities. Submit a proposal and we'll send a tailored quote within 1 business day.
Factors considered
Group SizeMember IncomeNature of ActivitiesEmployer / Association Type
Product 04
Final Expense Insurance
Lump-sum death benefit paid to the nominated beneficiary to cover funeral, burial, and associated end-of-life costs. No receipts required — full sum assured paid as a single payment.
Rate
7.5% p.a.
Key Features
✓
100% of sum assured paid as single lump sum — no receipts, no reimbursement basis
✓
12-month waiting period for natural illness death; immediate cover for accidental death
✓
20% sub-limit for medical expenses arising from accidental injury
✓
Entry age: 18–70 years. No medical examination required
✓
Multiple plan tiers to match your budget and needs — no medical exam required
✓
Pay annually or monthly (slight loading on monthly option)
Available Plans
🥉 BronzeStarter plan — ideal for individuals beginning their cover journey
🥈 SilverGrowing cover for individuals wanting more peace of mind
🥇 GoldPopular choice — solid funeral and burial expense cover
💚 EmeraldEnhanced protection for those wanting greater certainty
💎 DiamondComprehensive cover for individuals and families
🏆 PlatinumOur highest cover tier — full peace of mind for you and your loved ones
📋
Exact premiums sent after proposal
Submit a proposal selecting your preferred plan. We'll send a detailed quote with annual and monthly payment options within 1 business day.
Ready to get covered?
Fill our simple 3-step proposal form. A YES relationship manager will follow up within 1 business day.
Product Proposal
Start your proposal.
3 simple steps. No jargon. Submitted proposals are reviewed within 1 business day.
1
Product
2
Details
3
Review
Claims
We're here when it matters most.
Claims are settled within 48 hours of complete documentation receipt. Choose your preferred channel below.
How to File a Claim
Four ways to reach us.
Pick the option that works best for you.
💻
Online Portal
The fastest way to file. Log in to our online claims portal, complete the digital form, and upload supporting documents. Track your claim status in real-time.
Visit our Ikeja, Lagos office to file your claim with a dedicated officer. Walk-in claims are accepted during business hours. Documents verified on the spot.
Partner Programme · Open Now
Earn more. Protect more. Grow together.
We provide the products, the licence, and the support. You bring the customers — and earn competitive commissions on every policy placed.
5
Partner Channels
5 days
Onboarding Time
4
Products to Sell
48h
Claims Turnaround
🏦
Banks & MFBs
Credit Life · Group Life · Personal Accident
→
🤝
Cooperatives & Associations
Group Life · Final Expense · Personal Accident
→
📋
Licensed Insurance Brokers
All 4 Products · Highest Commission Tier
→
🚌
Transport Companies
Travel Personal Accident — Road & Rail
→
Competitive
Commission Rates
≤ 5 Days
Partner Onboarding
NAICOM
Licensed & Regulated
48-Hour
Claims — Your Clients Always Paid
Who We Work With
A partnership built around you.
We've designed a channel-specific partnership model so you always offer products that fit exactly what your customers need.
📋
Highest Commission Tier
Licensed Insurance Brokers
Access our full product suite with competitive commission rates, digital proposal tools, and a dedicated YES relationship manager — with zero product development overhead.
✓
All 4 YES products under one partnership agreement
✓
Commission paid at policy inception — no batching
✓
Digital proposal tools and co-branded materials provided
Protect your loan book and satisfy NAICOM's NIIRA 2025 mandate through a single partnership. Credit Life integrates directly into your lending workflow with zero disruption.
✓
NIIRA 2025 compliant — satisfies NAICOM's credit life mandate for facilities ≥ ₦10M
✓
Single premium at disbursement — no monthly collections burden
✓
Claims settled directly to your institution within 48 hours
Credit LifePersonal AccidentGroup Life
🤝
Member Organisations
Cooperatives & Associations
Bring affordable insurance to your members as a value-added benefit and earn commission on every policy — for cooperatives, associations, and unions.
✓
Group life cover as a member benefit — strengthens loyalty and retention
✓
Premium collection aligned to your existing contribution cycle
✓
No minimum turnover or formal employer status required
Group LifeFinal ExpensePersonal AccidentCredit Life
🚌
Road & Rail Transport
Transport & Logistics Companies
Embed accident cover into every passenger journey. Cover activates on boarding, ends on alighting — zero additional paperwork for passengers.
✓
Cover activates on boarding, ends on alighting — perfectly matched to the journey
✓
No medical exam, no forms for passengers — invisible, frictionless protection
✓
Earn a commission on every passenger insured — significant revenue at scale
✓
Strengthens your brand as a safety-conscious operator — a genuine competitive differentiator
✓
Designed for road coaches, intercity buses, and rail operators
✓
Group master policy model available for high-volume operators — simplified administration
How Onboarding Works
From application to first commission in 5 business days.
1
Submit Registration
Fill the registration form below. Under 5 minutes.
Day 1
2
Review & Verification
We verify your application and credentials.
Day 1–2
3
Agreement Signing
Short, fair partnership agreement sent for signature.
Day 2–3
4
Orientation & Tools
Product training, proposal access, and marketing materials.
Day 3–4
5
Go Live & Earn
Start placing policies and earning commission. RM on call.
Day 5
Commission Structure
How commissions work.
✓
Paid at inceptionReleased on policy confirmation — no quarterly batching.
✓
Pro-rata on group additionsNew members added mid-year earn you a proportional commission automatically.
✓
Renewal commissionsAnnual policies renew each year — so does your commission.
✓
Volume incentivesHigh-performing partners earn enhanced rates. Speak to your RM for details.
Partner Voices
What our partners say.
★★★★★
"Within a week we had our first Credit Life policy placed and commission received. Exactly what our borrowers need."
🏦
Operations Manager
Microfinance Bank, Lagos
★★★★★
"Uptake was immediate. Members feel protected, and the cooperative earns commission it didn't have before."
🤝
Secretary-General
Market Traders Cooperative, Ogun State
★★★★★
"Travel accident cover gave us a real differentiator. Claims are fast — which matters enormously to passenger families."
🚌
General Manager
Intercity Transport Company, Abuja
Partner Registration
Start earning with YES today.
Fill in the form and our partnerships team will contact you within 1 business day to complete your onboarding.
✓
No upfront fees
✓
Free training & marketing materials
✓
Dedicated relationship manager from Day 1
✓
NAICOM-licensed products — sell with confidence
✓
Commission paid at inception
We will contact you within 1 business day of registration — or call us on 08175848057.
Questions before you register?
Our partnerships team is happy to walk you through the programme, commission structure, and what to expect before you commit to anything.
This Privacy Policy explains how YES Microinsurance Company Limited (“we,” “our,” “the Company”) collects, processes, stores, and protects personal data of its customers, employees, and stakeholders in compliance with the Nigeria Data Protection Act (NDP Act) 2023 and the General Application and Implementation Directive (GAID) 2025.
1. Our Commitment to Data Processing Principles
We uphold the data processing principles ensuring personal data is:
Processed lawfully, fairly, and transparently
Collected for specific, legitimate purposes
Adequate, relevant, and not excessive
Accurate and up-to-date
Retained only as necessary
Protected with strong safeguards
2. Consent of Data Subject
We obtain clear and informed consent before processing data where required.
3. Scope of Data Processing
Insurance service delivery
Customer onboarding
Claims processing
Regulatory compliance
Fraud prevention
Employee administration
Marketing (with consent)
4. Data Subject Rights
Right to access data
Right to correction
Right to deletion
Right to restrict processing
Right to object
Right to portability
5. Data Retention & Security
We retain data only as necessary and apply strong security measures including authentication, monitoring, and access control.
6. Third-Party Data Sharing
Regulators (NDPC, NAICOM)
Authorized service providers
Business partners
7. Cookies & Technical Data
We collect device and browsing data to improve services. Cookies can be controlled via browser settings.
8. Data Security Measures
Multi-factor authentication
Security audits
Anti-malware systems
Disaster recovery plans
9. Contact Information
YES MICROINSURANCE LIMITED
4 Adenubi Close, Off Majekodunmi Street
Email: info@yesinsurance.ng
Phone: +2348175848057
Help Centre
Frequently Asked Questions
Everything you need to know about YES Microinsurance products, cover, claims, and how to get started.
💬 General Questions
What is YES Microinsurance?
+
YES Microinsurance Limited is a NAICOM-licensed composite microinsurer (RC No: 1489552) based in Ikeja, Lagos. We provide simple, affordable insurance products designed for individuals, small businesses, cooperatives, and lenders across Nigeria — without complicated forms or medical exams.
Is YES Microinsurance regulated?
+
Yes. We are fully licensed by the National Insurance Commission (NAICOM) as a composite microinsurer. Our registration number is RC 1489552. We also comply with NIIRA 2025 requirements for credit life mandates on facilities above ₦10M.
Do I need a medical examination to get covered?
+
No. None of our current products require a medical examination. You can get covered quickly and simply without any health checks — just complete the proposal form and our team will follow up with your policy details.
When does my cover start?
+
Cover start date depends on the product:
Credit Life: Cover begins on the loan disbursement date.
Personal Accident (Travel): Cover begins on boarding for each trip.
Personal Accident (Bank Account): Cover starts from the date of first confirmed premium payment via your partner bank or MFB.
Micro Group Life: Cover starts on the agreed policy inception date.
Final Expense: Accidental death cover starts immediately. Natural illness death is subject to a 12-month waiting period.
How do I get a quote?
+
Simply fill out our online proposal form — it takes under 5 minutes. Once submitted, a YES relationship manager will prepare a personalised quote and send it to you within 1 business day. We do not publish fixed prices online because we tailor each policy to the individual or group.
How can I pay my premium?
+
Payment options vary by product. Credit Life is a single premium paid at loan disbursement. Personal Accident (Travel) is a per-trip premium collected through the transport partner. Personal Accident (Bank Account) premiums are deducted monthly by direct debit through partner banks or MFBs. Group Life and Final Expense policies can be paid annually or monthly by direct debit or bank transfer. Our team will confirm the best payment method for your policy.
Can I cancel my policy?
+
Yes. You may cancel your policy by providing written notice to YES Microinsurance. The terms for refund or pro-rata return of premiums depend on the specific product and when in the policy period you cancel. Contact us at info@yesinsurance.ng or call 08175848057 for assistance.
🛡️ Products
What products does YES Microinsurance offer?
+
We currently offer four core microinsurance products:
Credit Life Insurance — protects lenders against borrower death or disability
Personal Accident Insurance — travel (via transport partners) or bank account-linked accident cover
Micro Group Life Insurance — death-in-service benefit for groups of 5 or more
Final Expense Insurance — lump-sum funeral and burial expense cover
What does Credit Life Insurance cover?
+
Credit Life Insurance settles the outstanding loan balance directly with the lender if the borrower dies or suffers a permanent total disability (PTD) during the loan period. It is a single-premium policy — one payment at disbursement covers the full loan tenor. There is no need for recurring collections or monthly deductions from the borrower.
What is the difference between the two Personal Accident sub-products?
+
Travel: Per one-way trip cover — begins on boarding, ends on alighting. A return journey requires a separate policy. Available through road and rail transport company partners.
Bank Account Monthly: Monthly cover distributed through partner banks, microfinance banks (MFBs), and fintech partners, with premiums deducted by direct debit.
Both sub-products cover accidental death and medical expenses from accidental injury, with no waiting period.
What is the waiting period for Final Expense Insurance?
+
Final Expense Insurance has a 12-month waiting period for death caused by natural illness. This means if the insured passes away from an illness within the first 12 months, the death benefit will not be paid. However, accidental death is covered from Day 1 — there is no waiting period for accidents. From month 13 onwards, all causes of death are covered.
Does Final Expense Insurance cover suicide?
+
The policy has a tiered approach to suicide:
Months 1–12: Full exclusion — no benefit payable
Months 13–24: Return of premiums paid
Month 25 onwards: Full death benefit payable
Is Credit Life Insurance mandatory for lenders?
+
Yes, for certain lenders. NAICOM's NIIRA 2025 directive mandates credit life insurance for facilities of ₦10M and above. Our Credit Life product is designed to satisfy this regulatory requirement. We can onboard qualifying lenders within 5 business days.
⚡ Claims
How long does a claim take to be settled?
+
All valid claims are settled within 48 hours of receiving complete documentation. Our claims team will acknowledge your submission within 2 working hours and inform you of any missing documents promptly so there are no unnecessary delays.
How do I submit a claim?
+
You can submit a claim through any of four channels:
Online Portal: Visit to file and track your claim digitally
In person: Visit our Ikeja, Lagos office during business hours
What documents do I need to file a death claim?
+
For a death claim, you will typically need:
Completed claim form
Death certificate (original or certified copy)
Valid ID of the claimant (National ID, Passport, or Driver's Licence)
Proof of relationship to the deceased
Bank account details for payment (with BVN verification)
Police report (if accident-related)
Our claims team will advise on any additional documents specific to your policy type.
Who receives the claim payment?
+
It depends on the product. For Credit Life, the outstanding loan balance is paid directly to the lender. For all other products (Personal Accident, Group Life, Final Expense), the death benefit is paid to the nominated beneficiary on the policy. It is important to name your beneficiary accurately when taking out a policy.
Can a claim be declined? Under what circumstances?
+
A claim may be declined in cases such as:
The cause of death or injury is specifically excluded under the policy (e.g. natural illness within the waiting period for Final Expense)
Material facts were misrepresented or concealed at the time of application
The incident occurred outside the cover period
Fraudulent or inflated claims
If your claim is declined, you will receive a written explanation and you have the right to appeal the decision.
Do I need receipts to claim the Final Expense benefit?
+
No. The Final Expense death benefit is paid as a lump sum — no receipts, invoices, or proof of actual funeral expenditure are required. The full sum assured is paid to the nominated beneficiary to use at their discretion.
🤝 Brokers & Partners
How do I become a YES Microinsurance broker or partner?
+
Onboarding is straightforward. Contact our partnerships team at info@yesinsurance.ng or call 08175848057. You will need a valid NAICOM broker licence (for brokers) or relevant regulatory authorisation for your channel. Partner onboarding is typically completed within 5 business days.
What commission do brokers earn?
+
We offer competitive commission rates across all channels and products. Specific rates are shared during the onboarding process and are aligned with NAICOM guidelines. Commission is payable at policy inception and, for group policies, pro-rata on mid-year additions. Contact us for a detailed commission schedule.
Can microfinance banks (MFBs) and fintechs partner with YES?
+
Yes. Our Credit Life product is specifically designed for MFBs, fintechs, cooperatives, and commercial banks offering loans. A group master policy model is available for lenders with recurring loan portfolios, making administration seamless. We can structure the partnership to suit your existing lending workflow.
How does the proposal and policy issuance process work for brokers?
+
Brokers can submit proposals on behalf of clients via our online proposal form. Once submitted, our underwriting team reviews the proposal and sends a detailed quote within 1 business day. Upon premium payment, the policy document is issued digitally. Brokers receive their commission at policy inception.
👥 Groups & Cooperatives
Who is eligible for Micro Group Life Insurance?
+
Any organised group of 5 or more members is eligible, including:
Employers and their employees (SMEs, micro enterprises)
Cooperative societies
Market and trade associations
Artisan and craft unions
Professional associations
Religious organisations and community groups
The policy is flexible enough to cover both formal employment groups and informal member associations.
Does Micro Group Life satisfy PRA 2014 obligations?
+
Yes. For employer groups, our Micro Group Life policy is structured to satisfy the employer's obligation under Pension Reform Act (PRA) 2014 Section 4(5), which requires a minimum death-in-service benefit of 3× gross annual emolument per employee, for organisations with 5 or more staff. Non-employer associations and cooperatives can also use the policy for member protection, even if PRA compliance is not the primary objective.
How is the cover amount determined for group members?
+
For employer groups, cover is typically set at 3× the gross annual emolument of each member. For cooperatives and associations, the benefit amount is based on the member's income level or agreed contribution amount. Our underwriting team will work with you to structure appropriate cover levels for your group. Submit a proposal and we will prepare a tailored group quote.
Can members join or leave the group during the policy year?
+
Yes. New members can be added mid-year on a pro-rata basis — meaning the premium for the remaining policy period is charged for the new joiner and cover begins immediately. Members who leave can be removed at the next renewal. Your broker or our partnerships team will manage these adjustments for you.
Are group premiums tax-deductible?
+
Yes, for employer groups. Premiums paid by an employer on a group life policy are tax-deductible as a business expense under Nigerian tax law. Additionally, the death benefit paid to the beneficiary is income-tax exempt. We recommend consulting your tax adviser for your specific circumstances.
What information do I need to enrol my group?
+
To get started, you will need a member schedule listing each member's:
Full name
Date of birth
Role or position in the group
Monthly income or contribution level
A template is available on request. Simply submit the proposal form and our team will provide the template and guide you through the rest.
Still have questions?
Our team is ready to help — reach us through any of the channels below.