The most affordable Nigeria life insurance plans In 2025

By Adeola Olokede

Life insurance ensures financial security for dependents in case of death or disability. Basic term life policies are the most affordable, often requiring no medical exams and offering high coverage for low premiums.

Leadway Term Life Plan:

Starts at N7,500 annually for N500,000 coverage or N10,000 for N1,000,000. This life insurance plan covers death benefits without medical tests, making it accessible for young adults or families.

AXA Mansard Instant Plan:

An affordable fixed-term option covering death, permanent disability, and medical expenses. Premiums are low, emphasizing quick enrollment.

Sanlam Life Low-Cost Annual Renewable Plan:

Designed for salary earners, it doubles as savings and protection, with flexible payments to fit budgets.

Enterprise Life Assurance Plans:

Focus on innovative, low-cost life assurance for individuals, with options for child education protection. These plans are ideal for young professionals or parents, with payouts helping cover funerals, debts, or education. For families, group policies can further reduce costs.