We have observed so much indignity in death of our alummi, we are therefore paying a One Million Naira Death Benefit to any of us, in the event of death.
Here is a breakdown of our financial obligations and mutual benefits.
- The Annual Subscription of N20k is purely for the social welfare of financial members.
- N10K per member is used as premium for the Group Life Assurance Policy. The insurance company would pay N1million death benefit in the event of death.
- The remaining N10k goes to a pool to tackle other deaths within the immediate family.
- Donations and Levies, which are optional, are exclusively targeted at periodic happier events. Like our annual anniversary etc.
- Yearly Scholarship Schemes to be established to fulfill our Corporate Social Responsibility at Oko. Funding shall come from returns on our corporate enterprise/s.
- A N50,000 One-Time Registration Fee, goes to finance our chosen business venture. This business venture gives the group a kind of financial autonomy.