Insurance Policy

NOA Insurance Policy

The NOA have an ongoing insurance policy for our members who desire to have some benefits in the event of death, illness and/or medical negligence. This was born due to the challenges our members have faced in the past and the need to provide benefits to members at the time of difficulty as mentioned above. Currently, FBN as the underwriter is managing the association’s insurances. To these effect members who signed for the insurance will be covered in any of the following depending on their choice:

Medical Expenses (ME) benefits in the event of accident per individual ₦100,000 Premium payable ₦2,000/annum
Group Life Assurance (GLA) per individual ₦1,000,000 Premium payable ₦5,933.99/annum
Professional indemnity (PI) benefits ₦1,000,000 Premium payable ₦10,000/annum Members can elect for any or all of the above packages Overall Premium payment expected per member if all 3 are chosen is as follows: ME + GLA + PI = ₦5,933.99 + 2000 + 10,000 = ₦17, 933.99per member annually. If you are interested Please pay your insurance premiums to: NIGERIAN OPTOMETRIC ASSOCIATION (PROJECT ACCOUNT)

Bank: GT Bank
A/C No: 0209108559
After payment, Send your details to Dr Haulder Ibeneche on 08033288116 or 08058436447. email:haulderjoel@yahoo.com.

INFORMATION ON NIGERIAN OPTOMETRIC ASSOCIATION INSURANCE POLICY
Preamble: The Insurance Cover designed for Nigerian Optometric Association are:
Category A: Group Life Assurance (GLA) for members with Medical Expenses Benefit (max. Limit of
₦100,000.00
Category B: Professional Indemnity Insurance Cover (Max. Limit of ₦1,000,000.00) for members
Frequently Asked Questions:

Who is Insured? – The Insured is Nigerian Optometric Association (NOA)
What is Insured? – This involves two (2) categories as proposed and stated above: Category A: Group Life Assurance Cover – Upon Death Only (natural or accidental death is covered) of any member, FBNI shall pay a maximum of N1m to beneficiary of the likely deceased member. *Kindly note that this excludes suicide as this is a World Standard Practice. While for the Medical Expenses, FBNI shall settle the medical bills directly to the Hospital or refund the money if bills have already been paid subject to the limit of cover (₦100,000.00 for a year) specified in the policy. Note: Medical expenses benefit is an added benefit to GLA cover. It cannot go alone although you can adopt GLA without it. Category B: Professional Indemnity Cover – Provides Insurance Cover against legal expenses resulting from Professional Negligence. The Proposed Max. benefit per member in a year is ₦1,000,000.00 and to be offered by FBNGI.
When Insurance Begins and Ends? – Insurance Contract operates on “No Premium No Cover”. The proposed Insurance contract begins upon the receipt of payment of Insurance premium by FBNI for listed members and ends after one (1) year duration and is usually renewable after one year.
Conditions of Insurance? – There are General Insurance Conditions which shall be provided on the Policy Document which FBNI/FBNGI shall Issue to NOA after payment and submission of relevant documentation has been accomplished.
What is not insured? – Any member that we have not received payment from through the Association, is not covered. Note: Permanent Disability and Temporary Disability is not covered. Only Death Incident is covered, Medical expenses within agreed limit is covered, Legal expenses arising from Professional Negligence up to agreed Limit is covered.
How to enroll Determine: b. Type of Professional Indemnity cover you wish to take: Individual or Clinic? Both are the same cost as long as the proposed maximum benefit of N1m is not exceeded. Provide: c. Date of birth d. Next of kin e. Residential and Email address f. Phone number
All questions on Cancellation of Policy? – The Employer may cancel the policy within 30 days of receipt of the policy or of the policy summary. FBN Insurance will refund all premiums paid in respect of the transaction, adjusted at FBN Insurance’s discretion for any investment charges incurred, negative investment experience and reasonable time-based fees for work performed. The Employer may not cancel the policy in terms of this clause if a Benefit has been paid or claimed or an insured event has already occurred. Unless otherwise agreed by FBN Insurance and the Employer, the Scheme shall be discontinued upon the happening of any one of the following events: The Employer and/or FBN Insurance have canceled this policy by giving the other party two calendar months’ written notice; If the Employer for any reason ceases to pay premium in terms of this Policy; The Employer fails to comply with the conditions of this Policy; The Employer goes into liquidation (other than for the purpose of amalgamation or reconstruction). Policy Document will be sent to every member.
Extent of Professional Indemnity Cover? – Is dependent on agreed max. yearly Limit – proposed Limit for NOA is N1m per annum and is renewable upon receipt of Insurance renewal premium. It can cover various incident in a year as long as the proposed max. benefit of N1m is not exceeded.
How many people can a single Indemnity Policy Cover? – A single professional Indemnity can cover as many people/ Clinics as long as it does Not exceed the max. agreed benefit level in a year. 10. If a lawsuit arises after expiration of Insurance Contract but incident occurred during period of Insurance? – It is covered as long as there is Proof to show that incident occurred within the insurance period/ year.
What if a Clinic is required to provide Indemnity Cover for all Doctors within a location? – That is possible but we need to have the list of all Doctors in that location – it can actually be in the name of the Clinic.

Follow us on social media

Optometry House, Nigerian Optometric Association , National Secretariat, No.2 Nana Aisha Court Estate, Sabon LUGBE, Opp DUNAMIS HQ, AirportRd, 900005, Abuja. (+234 805 503 7693,07036293000), info@noang.org