The company, at a media interactive session in Lagos, explained that a Will is a legal document that outlines how a person’s assets, properties, and belongings will be distributed after their death.
Speaking on the Trust services and products offered by the company, Mr. Oliver Obi, Head, Trusts Services of the company noted that they offer short term loans, Corporate Lease, Annuity loans, Corporate Trust, Education Trust, Charity/Welfare Trust, Living Trust, Testamentary Trust, as well as IWill Products.
On short term loans, Obi said that it is a loan with a relatively brief repayment period, typically ranging from a few weeks to a few years. Short-term loans are often used to address immediate financing needs.
He explained that corporate lease is an arrangement where a company leases assets (such as equipment, cars or property) for a defined period, typically no longer than 3 years.
He explained that Annuity Loans are loans secured by the future payments of a Leadway Assurance Annuitant.
For Corporate Trust, he noted that they are Trusts created by corporations to hold and manage assets, often for the benefit of employees, shareholders, or specific purposes as debenture trust.