Health Insurance In Nigeria-An Over view

Due to the rising case of of lifestyle diseases coupled with bad economy in Nigeria, Health Insurance has become a necessity for every Nigerian. There is a popular saying in Nigeria that ” Health is wealth” which simply means that he who is not healthy does not have the strength to hustle for money. Today in Nigeria, many people have stared accepting the fact that they actually need health insurance coverage to protect them from any health related problem that may come.

What is Health Insurance?

Health insurance is the type of insurance that covers an individual, family or organization from any cost of health related problems.

Insurance companies in Nigeria offers one of the best health insurance coverage in the insurance industry. Ranging from Individual health insurance plans, Family health insurance plans and group health insurance plans for corporate organizations. These Health Insurance plans will not only guide you against present and future health problems that may rise, but will also guide you on the path to a healthy living.

Health insurance

Why you need health insurance coverage in Nigeria

There are many reasons why you need health insurance coverage in Nigeria. Apart from reducing the cost of medical problems that may rise due to accident or illnesses it also covers the cost of health tips that would prevent you from getting sick. Here are some major reasons why you need health insurance.

1. Increase in lifestyle related disease

In Nigeria, due to unhealthy lifestyle living, unhealthy food or poor diet and high stress level health related diseases are growing at a high level. This is one major reason you need to be covered from any unexpected health challenge that may rise.

 2. Increase in high cost of living.

Cost of living in Nigeria is on the rise, each day you discover that the price of goods in the market doubled if not tripled all because of bad economy. Nigeria Health system is not left behind, the cost of treating malaria today is not the same as last year. The cost of treating malaria today is times 5 of what it use to be last year. This should also give you a call to action to get an insurance coverage to protect you from any health problem that may fall on you in this bad economy.

3. Your group health insurance is not enough

If you are an employee in an organization and your are covered under the company’s group life insurance. You should consider getting a personal health insurance policy because you may not remain in that organization for ever. When you live the company, your insurance coverage is terminated instantly.

4. Pre and post hospitalization

In Nigeria, health insurance has gone beyond taking care of cost of treatment involving hospitalization. There some health insurance plans that covers the cost tips and guides that will prevent you from falling sick. Prevention they say is better than cure, so if you need medical guidelines that would help you to a healthy living, i think you should consider getting this plan.

5. Protection against medical emergencies

Any one can be a victim of  expected illnesses. Health challenge may come and it may come when you do not have enough money at hand. So to be on a safer side, grab an insurance coverage that would protect you against any medical problem that may rise when you are not financially strong.

Types of Health Insurance Policies in Nigeria

In Nigeria, each insurance company have it own specialized designed plans. But there are standard policies covered under health insurance. So no matter what any insurance company may decide to call their plan, it will all fall under these plans listed below.

1. Indemnity(Mediclaim)

Indemnity health insurance is the most popular health insurance in the market. This plan covers any medical expenses in the event of hospitalization, diagnoses or screening expenses. Sub-plans under Indemnity plan are

  • Individual plan: This plan covers just one person’s medical bills and other expenses incurred.
  • Family plan: This plan covers a wholes household just as the name implies. It includes: Individual, child, mother, father, in-law or relation.

2. Fixed benefit plan

This plan offers a fixed monetary compensation to the policyholder in the event of an pre-defined medical challenge that may rise due to accident, diagnosis or any critical illness. Sometimes this plan will not only cover the expenses but also compensate you for your losses caused by the medical condition. Sub-plan under fixed health insurance policy are:

  • Critical illness plan
  • Surgical benefit plan
  • Accident Insurance plan


Constantly study your needs, your financial plan and the type of health challenge that your are prone to, because there are the factors that will determine the health insurance plan you will sign up for. While making your choice of health insurance coverage, consider your lovely family, children and your age parents. Include them in your plan as well.

Related Article: Top 5 Life Insurance Companies In Nigeria

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