LASACO pays N204m death benefits of Lagos public servants

Lagos State Government, in conjunction with LASACO Insurance Plc, has issued cheques worth N240 million to 80 families of deceased public servants as Insurance Death Benefit.


The Head of Service of Lagos State, Mrs. Folasade Adesoye, who presented the cheques to representatives of the families at Alausa, noted that the benefits were given to provide succour for the dependants of deceased Public servants who died in active service of the State.


She said “This is the Lagos State Government’s effort at providing some succour in form of material support and assistance for the families they left behind. This periodic exercise is an obligation which demonstrates the responsiveness of the State government to the need of the families left behind.”


While commending Governor AkinwunmiAmbode for the prompt payment of salaries and other benefits to Public Servants in the State, she thanked the Ministry of Finance, State


Treasury Office and Lagos State Assurance Company (LASACO) PLC for the part played in ensuring that the families of deceased members of the State Public Service are covered under the Global Insurance Scheme Policy of the government.


Adesoye, however, advised that the funds be put into good use especially by those handling the funds by proxy for the underage beneficiaries, saying “To the immediate beneficiaries, dependants particularly, I appeal that those who will manage the funds should take this advice and counsel given to you earlier by the schedule officers to heart and ensure due diligence as well as proper planning in the expenditure you may need to make, particularly, in the areas of business and investment”.

The Head of Service added that the recipients should endeavour to seek guidance and professional advice from financial consultants and small business experts before taking decisions which will significantly impact their families.


Earlier, Mrs. OlufunmilayoBalogun, Permanent Secretary Ministry of Finance, commended the State government for increasing the number of beneficiaries to 80 as against 32 that were given last year.


She appealed to all the relatives to be prudent in the spending of monies given out to them and urged them to complete necessary documents that will hasten the processing of other benefits from the State government.


LASACO Insurance Plc was represented at the event by its Deputy Managing Director, Mr. RazzaqAbiodun who advised the recipients to invest their money wisely after carrying out the necessary due diligence.


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