7 Best Cornerstone Insurance Savings Plans for an Assured Future

7 Best Cornerstone Insurance Savings Plans for an Assured Future 

Are you looking for the best insurance-tied savings plans to grow your money? If yes, then you’re in the right place.  

Whether you’re a father in need of a savings product for your child’s education, a trader with an apprentice to settle or a student saving for future life endeavors, you know that investing in profitable assets is the best decision you can take for a secured future.  

And there are some great savings products to put your mind at ease!  

At Cornerstone Insurance, we have an array of investment plans to meet your financial goals. Whilst these plans yield good returns at the expiration of their contract, some go one step to provide additional life cover to safeguard you against unforeseen occurrences. In this blog post, we’ve put together seven (7) best Cornerstone insurance savings plans that can be beneficial for a broad range of individuals: 

Table of Contents

1. Cornerstone Rest (C-REST)

First on our list is the Cornerstone Rest (C-Rest), which has carved a niche for itself among its peers. As currently the most embraced Cornerstone savings plan for all classes of individuals, C-Rest allows you to grow your money with added free life insurance cover. Not only do you receive guaranteed disbursement of your money at the end of the contract, the policy also shields your loved ones with a solid protection called “the Sum Assured”. In the tragic demise of the policyholder, this sum assured is often a specified amount paid to a named beneficiary within the policy contract period.


  • Savings policy bundled with life insurance. 
  • Single or regular premiums payable. 
  • Policy duration has a minimum term of one (1) year and a maximum term of ten (10) years. 
  • Minimum entry age is 18 and maximum age is 65. 
  • The minimum investment contribution is N3,000 monthly. 
  • Contributions can be increased at any time during the lifetime of the policy. 
  • Free life cover starts from N36,000 annual premium and above. 
  • Waiting period of three (3) months from policy inception date for death benefit. 


  • The named beneficiary receives the death benefit if the policyholder dies before the policy expiration. 
  • Total investment and accrued interest on the policy will be payable to the policyholder at the end of the policy. 
  • The life cover is based on the range of monthly contributions. 
  • Interest rate: SDR + 1. 
  • Surrender period carries a fee of 100% charge for Year 1, 50% for Year 2, 20% for year 3, and then 10% for the 4th year. 

2. Maximum Investment Plan (MIP)

Compared to its predecessor with a minimum duration of 1 year, the Maximum Investment Plan (MIP), has 5 years as its minimum policy duration. Therefore, if your purpose of saving is to achieve a long-term goal rather than a short-term objective, then the MIP is your best alternative.  

The MIP is a savings plan that helps to provide a lump sum through disciplined savings. Whether you want to save for future business endeavors, or purchase a home, the Maximum Investment Plan allows you to do just that. It provides not only a guaranteed benefit at the end of the contract, but also a sum assured at the death of the policyholder. 


  • You are eligible to take up this plan if you are under 60 years. 
  • Guaranteed interest rate is subject to annual review. 
  • Interest is credited once payment is successful via using an ATM card or Bank transfer. 
  • Policy loan is subject to a maximum of 70% of the fund balance. 
  • Annuity option at maturity. 
  • The minimum policy duration is 5yrs. 
  • Attracts surrender/paid up value. 


  • Creates capital for future needs (i.e. home ownership, own business, etc.).  
  • The sum assured (life cover) in the event of death of the policyholder is N150,000.00 
  • Death benefit is a one-off cash sum (invested fund balance and life cover) to the beneficiary in the event of death during the policy term. 
  • Maturity benefit is accumulated account balance as at maturity date. 
  • May provide a lump sum at retirement 
  • Policy can be tendered as collateral with any financial institution.               
  • Annuity option at maturity. 

3. Children Education Fund (CHEF)

What would you do if your child’s education is threatened by financial problems? More so, if it happens when you’re financially down to provide for their fees? Let’s face it, the best time to secure your children’s education is now, do not wait for tomorrow. By safeguarding the education of your kids via our Children Education Fund, you’ll gain rest of mind regardless of future financial perils.  

Our CHEF plan can assist you in providing a lump sum over a period for the education of your children or dependents. However, if the unfortunate occurs before the end of the agreed period, the account fund balance plus the sum assured on the plan (outstanding premium as at date of death) is paid to your named beneficiary. But if there is no death, you get your total contribution with accrued interest at the expiration of the contract. 


  • Minimum annual contribution of N60,000.00 
  • Flexible payment of contribution (monthly, quarterly; half yearly and yearly) 
  • Medical examination, at our expense, may be required where necessary for underwriting purposes 
  • Minimum policy period is five years 
  • The maximum age of entry is 50 years. 
  • Death benefit equals future unpaid annual premium plus policyholder’s balance. 


  • CHEF can be surrendered after a minimum of one year in force, subject to contract terms and conditions. 
  • Policy loan is subject to a maximum of 70% of the fund balance after a minimum of one year in force. 
  • The policyholder can tender the policy as collateral with any financial institution. 
  • Attractive interest rate. 
  • Annuity option at maturity. 

4. iSave Plan

If you are looking for a two-year savings plan alongside a life insurance cover for your immediate need, then the iSave plan is for you. iSave assists in building a lump sum amount over 24 months (about 2 years) while paying a competitive interest rate of 4% which is higher than the minimum savings deposit rate paid by the banks.  

The iSave policy is perfect for individuals looking for a disciplined savings plan that gives room for premature termination of contracts to solve life challenges. However, if withdrawals are made early without getting to the 2 years duration, the accrued interest will be forfeited. 


  • You are eligible to take up this plan if you are under 65 years. 
  • The policy term is 2 years renewable. 
  • Interest rate is SDR+1% (SDR is the CBN stipulated minimum savings deposit rate banks can pay on savings accounts and is usually 10% of Monetary Policy Rate (MPR). 
  • Policy can be surrendered after a minimum of 13 months with no withdrawal fees (earlier surrender will attract charges). 
  • Minimum contribution of N5,000 


  • Creates capital for future needs (school fees, home ownership, start your own business etc.) 
  • The sum assured (Life Cover) which ranges from N100,000 – N1,000,000 requires a one-time payment (known as risk premium). For a sum assured of N500,000, the risk premium will be N10,000 (i.e. 1% of the sum assured).
  • In the event of death, the account balance and sum assured are paid to the named beneficiary. 

5. Oga Boy

Are you a trader with an apprentice to settle? Does the approaching settlement day give you much apprehension, especially because of the cash crunch and the dwindling economic condition of the country? If this is you, then consider the Ogaboy plan as a safety net to help settle your apprentice who has served you well.  

Just as its name implies, Oga Boy is an apprentice savings scheme with a 2-year maximum savings duration and an accompanying term life insurance cover like i-Save. This product is targeted at traders with apprentices working under them for an agreed period, with the promise of compensation at the end of their service.  


  • One-off (upfront) risk premium payment for 2-year life insurance cover. 
  • Minimum monthly savings of N5,000.00. 
  • Options for the death benefit start from N100,000.00, up to a maximum of N1 million. 
  • The interest rate is SDR+1%. 


  • Allows business owners an opportunity to save for the “freedom” of their apprentices. 
  • Creates short-term capital for future needs such as business start-ups, school fees, landed property, purchase of an annuity at retirement, savings towards pilgrimage and/or holidays, etc. 
  • In the event of death, the account balance and sum assured are paid to the named. 
  • Accrued interest will be forfeited upon withdrawal or termination if this happens within the first 12 months.  

6. Flexi

The Cornerstone Flexi is an endowment policy that offers a lump sum amount on maturity of the contract or death of the policyholder. Its flexibility makes it easy for individuals to pay the premium upfront, either annually, bi-annually, quarterly or monthly. This flexibility is also obtainable when paying benefits to beneficiaries as payment is made quarterly, second quarter or at the end of the policy term. One other good feature of Flexi is that it allows policyholders to access loan options to the tune of 70% of the contract’s surrender value so long as the policy has been operational for at least 2 years. 


  • Policyholders can pay the premium upfront (annually, bi-annually, quarterly or monthly). 
  • The product is available for policy durations of 6, 9, 12 and 15 years only. 
  • The minimum sum assured is one million naira. 
  • Maximum age of entry is 64 years. 
  • 3% payable bonus on maturity. 
  • The policy has a waiver of premium option if the policyholder is diagnosed with a defined critical illness or permanent disability. 
  • It also has a loan facility to the tune of 70% of the surrender value provided the policy has been in force for at least 2 years. 


  • The named beneficiary receives the sum assured and other accrued bonuses if the insured dies before maturity of the policy. 
  • After two years, the policyholder can use the loan option. 


Cornerstone Life Insurance Plan (CLIP) is a term assurance product designed to protect the livelihood of an insured’s dependents in the event of his/her demise within the period of cover. For example, if you purchase this policy, your dependents or loved ones receive financial support to help them with life in your absence. Dependents can receive up to N2 Million based on the premium paid by the policyholder. 


  • The policyholder can pay the premium up-front. 
  • Policy duration is 1 year. 
  • The maximum age of entry is 64 years. 
  • Minimum premium payable is N1,000. 
  • Life cover minimum is N100,000 and maximum is N2 million per annum. 


  • The named beneficiary receives payment once the policyholder dies. 
  • Provides financial support to loved ones in the event of death. 


Saving money is a great way to create a safety net for future expenses and unplanned financial needs. The more money you save, the more peace of mind you receive. However, when looking for the perfect ways to grow your money it’s best to consider your financial goals to find the right match. At Cornerstone Insurance our arrays of savings products help you do just that. We’ve developed great investment plans to meet your future financial goals via disciplined savings. Wondering where to start? Simply, contact a Cornerstone Insurance agent close to you and get the right advise on which savings plan is best for your needs. 

To learn more about our Investment Plans:

Visit: cornerstone.com.ng | Call: 07086216957 | or Email: brand@cornerstone.com.ng

Read: Personal Accident Insurance: Everything You Need to Know 

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