FRIENDS COVER

Protecting Members. Supporting Recovery. Building Resilience.

Friends Cover is a cooperative-backed protection and recovery scheme established by Great Friends Multipurpose Cooperative Society Limited to provide financial assistance to members who suffer unexpected losses or emergencies.

The scheme is designed to help members recover from verified incidents such as fire outbreaks, burglary, flood damage, business disruption, property loss, and other approved emergencies. Through collective member contributions and cooperative support, Friends Cover provides a financial safety net that helps members get back on their feet and continue their journey toward financial stability and success.

WHY FRIENDS COVER?

Life is unpredictable, but members should not have to face major setbacks alone. Friends Cover was created to provide timely support when members experience losses that affect their businesses, livelihoods, or valuable assets.

BENEFITS OF FRIENDS COVER

• Financial assistance during approved emergencies

• Protection against unexpected business and property losses

• Affordable monthly contributions

• Cooperative-backed support

• Transparent claim assessment process

• Faster recovery from financial setbacks

• Peace of mind for members and their families

HOW FRIENDS COVER WORKS

1. Enroll in Friends Cover.

2. Select your preferred cover plan.

3. Make your monthly contributions consistently.

4. Great Friends Multipurpose Cooperative Society Limited contributes an additional 20% of each member's monthly contribution to the Friends Cover Fund.

5. Maintain active membership status.

6. Become eligible after completing the required qualification period.

7. Submit a claim when a covered event occurs.

8. Receive approved assistance after verification and approval.

COVER PLANS

 

1. BASIC COVER

The Basic Cover Plan is designed for members seeking affordable protection with substantial benefits.

Member Contribution: ₦5,000 Monthly

Cooperative Contribution(20%): ₦1,000 Monthly

Maximum Benefit: Up to ₦700,000

This plan provides financial assistance for approved claims resulting from fire outbreaks, burglary, flood damage, business disruption, property loss, and other approved emergencies.

2. STANDARD COVER

The Standard Cover Plan is designed for members who require enhanced protection and higher benefit limits.

Member Contribution: ₦10,000 Monthly

Cooperative Contribution(20%): ₦2,000 Monthly

Maximum Benefit: Up to ₦1,000,000

This plan offers increased protection and support for members seeking greater financial security.

3.PREMIUM COVER

The Premium Cover Plan offers the highest level of protection available under Friends Cover.

Member Contribution: ₦20,000 Monthly

Cooperative Contribution(20%): ₦4,000 Monthly

Maximum Benefit: Up to ₦2,000,000

This plan is designed for members who desire maximum protection and the highest benefit limits available under the scheme.

ELIGIBILITY REQUIREMENTS

• Must be an active member of Great Friends Multipurpose Cooperative Society Limited.

• Must maintain regular monthly contributions.

• Must comply with all Friends Cover policies and guidelines.

• Must satisfy the minimum qualification period before becoming eligible for claims.

• All claims must be verified and approved before benefits are paid.

COVERED EVENTS

• Fire outbreaks

• Burglary and theft

• Flood damage

• Business disruption

• Property loss

• Approved emergencies

• Other incidents approved by the Friends Cover Committee

QUICK ACTIONS

• Join Friends Cover

• Upgrade Your Cover Plan

• Submit a Claim

• Track Claim Status

• View Policy Guidelines

• Contact Support

IMPORTANT NOTICE

Friends Cover is not an insurance policy. It is a cooperative protection and support scheme funded through member contributions and cooperative support. Benefits are subject to policy terms, verification, approval, and fund availability.

Together We Protect.

Together We Recover.

Together We Grow.

Great Friends Multipurpose Cooperative Society Limited