Heirs Life Assurance — review & details
The life arm of Tony Elumelu's Heirs Insurance Group, licensed by NAICOM in 2020 and built around simple, digital-first cover — you can buy and manage policies through its app, web portal or USSD (*1100#).
Digital-first
Heirs Life Assurance
★★★★☆
Term life, savings and investment-backed plans, children's education plans, Triple Pay investment plan, group life, credit life
Products
NAICOM-licensed life insurer (company footer states RIC No. 093; NAICOM's life register page lists Heirs Life at RIC 094 — see notes)
Licence
Young, well-capitalised insurer (N8bn paid-up capital stated on its site) with genuinely digital onboarding and claims
Strength
First-time buyers who want simple cover bought entirely online or by USSD
Best For
insurer
Type
Pros
- End-to-end digital: mobile app, self-service portal, AI chat support and USSD access for non-smartphone users
- Simple, clearly named products aimed at ordinary savers rather than corporates
- Part of the well-funded Heirs Holdings group, with published reinsurance backing
Cons
- Short track record — licensed only in 2020, so long-term claims and bonus history is limited compared with older insurers
- Product range is deliberately simple; high-net-worth or complex estate-planning needs may be better served elsewhere
- Savings-type plans' returns depend on the insurer's declared rates — not guaranteed to beat inflation
Fees, eligibility & documents
Fees
PremiumsQuoted individually by age, sum assured and plan — no public flat rates; get a quote on the site or via USSD
Eligibility
- Nigerian resident within the age band of the chosen plan
- Valid means of identification
- Medical underwriting may apply for larger sums assured
Documents needed
- Completed proposal form (digital)
- Valid government ID (NIN, passport, driver's licence or voter's card)
- Passport photograph; medical report only if requested for higher cover
How Heirs Life Assurance compares in life insurance
| Heirs Life Assurance | Leadway Assurance | AIICO Insurance | |
|---|---|---|---|
| Products | Term life, savings and investment-backed plans, children's education plans, Triple Pay investment plan, group life, credit life | Term, whole life, group life | Term, whole life, endowment, group |
| Licence | NAICOM-licensed life insurer (company footer states RIC No. 093; NAICOM's life register page lists Heirs Life at RIC 094 — see notes) | — | — |
| Strength | Young, well-capitalised insurer (N8bn paid-up capital stated on its site) with genuinely digital onboarding and claims | — | — |
| Best For | First-time buyers who want simple cover bought entirely online or by USSD | Claims certainty | Life cover |
| Visit Heirs Life → | Get a quote → | Get a quote → |
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