If you’ve been eyeing a job at Custodian Life Assurance and want to know the pay, you’re not alone.
Many Nigerians are applying to insurance companies, especially top-tier ones like Custodian.
But before you apply, it’s wise to know what their salary structure looks like across departments.
Custodian Life Assurance is one of the leading insurance firms in Nigeria.
They are known for offering life cover, savings plans, and investment-linked products.
With branches across major cities, they employ hundreds of workers across all cadres.
The company has a corporate culture that values professionalism and reward for performance.
Salaries vary depending on your position, level of experience, and department.
In this article, we’ll break it all down, from graduate trainees to senior staff roles.
Overview of Custodian Life Assurance Plc
Custodian Life Assurance is a subsidiary of Custodian Investment Plc.
They specialize in life insurance, pension services, and group savings.
Over the years, they’ve built a solid reputation in the Nigerian finance space.
The company’s workforce includes marketers, underwriters, actuaries, admin staff, and IT experts.
Each role has its own pay grade, which makes the salary structure quite broad.
But generally, Custodian is known to offer industry-standard or slightly above-average pay.
Whether you are a job seeker or career switcher, working here can be rewarding.
Besides the monthly salary, there are also incentives, bonuses, and welfare benefits.
Let’s go straight into the detailed breakdown of how much employees actually earn.
Entry-Level Salary at Custodian Life Assurance
Fresh graduates who enter as trainees or entry-level officers earn between ₦100,000 and ₦150,000.
The starting point depends on the department you’re posted to and your qualifications.
Trainees may earn slightly lower, around ₦90,000 during the training period.
Once confirmed after training (usually 3–6 months), salaries often get adjusted upward.
Entry-level staff in technical roles like underwriting or finance may earn up to ₦170,000.
Customer service, HR, or admin roles may start lower compared to technical departments.
This salary is quite competitive considering the insurance sector’s general pay scale.
While not as high as banks, it beats what many startups and SMEs offer new employees.
Plus, there are other financial and non-financial perks attached to the job.
Mid-Level and Specialist Salary Ranges
Mid-level staff include professionals with 3–7 years of experience in the company.
They may work as supervisors, senior officers, or specialists in specific units.
Their salaries usually range from ₦200,000 to ₦350,000 monthly.
Some core departments like actuarial science or IT enjoy slightly higher pay.
A Senior Underwriter, for instance, may earn up to ₦400,000 depending on performance.
Marketing executives at this level earn salaries plus commissions and bonuses.
The exact figure also depends on educational background, certifications, and productivity.
For example, someone with ACII (Associate of the Chartered Insurance Institute) earns more.
Those who contribute directly to revenue (like sales staff) may enjoy incentive-based boosts.
Managerial and Senior Executive Salaries
Managers and heads of departments earn from ₦500,000 to ₦1.2 million monthly.
This includes roles like Branch Managers, Product Managers, and Regional Coordinators.
They are expected to oversee teams and meet corporate targets, hence the higher pay.
Executive roles such as General Manager or Executive Director earn between ₦1.5M–₦3M.
At this level, pay is heavily tied to performance, target delivery, and board approvals.
There are also travel allowances, housing packages, and sometimes official cars.
Aside from fixed monthly salaries, executives enjoy quarterly or annual performance bonuses.
These bonuses can sometimes be worth 3x their monthly pay if the company hits its targets.
Such roles are reserved for experienced professionals with over 10 years in the industry.
Commission-Based Roles (Sales Agents and Marketers)
Many people join Custodian Life Assurance as independent marketers or agents.
These people don’t earn fixed salaries but are paid via commissions and performance bonuses.
It’s a flexible job but also highly demanding because income depends on sales.
Commission can range from 10%–20% on life insurance policies sold.
If an agent sells a ₦1 million policy, they could earn up to ₦100,000 in commission.
Some marketers go home with ₦300,000 or more monthly if they hit their sales targets.
There are also annual awards, cash prizes, and even international trips for top marketers.
In fact, some marketers earn more than entry-level staff purely from performance.
However, this income is not guaranteed, you must be a strong salesperson to thrive.
Internship and NYSC Pay at Custodian Life Assurance
Interns and NYSC members are regularly posted to Custodian Life Assurance offices.
Most interns earn between ₦30,000 and ₦50,000 depending on the department.
Corpers (NYSC) are usually paid around ₦40,000 to ₦60,000 monthly.
Some departments provide extra benefits like transportation allowances or lunch.
While the pay is modest, interns gain valuable experience that can lead to retention.
If a corper performs well, they may be offered a full-time role after service.
Editors pick
Allowances and Bonuses at Custodian Life Assurance
Beyond monthly salary, staff enjoy a range of benefits and allowances.
These include transport allowance, medical insurance, and annual leave bonus.
Some departments also offer wardrobe allowance for customer-facing roles.
Bonuses are awarded at the end of each year based on performance.
Those in revenue-generating roles often earn more through quarterly incentives.
There are also group life insurance, pension contributions, and HMO packages.
Managers and executives enjoy perks like official cars, travel reimbursements, and security.
Staff also benefit from training programs, retreats, and professional certifications.
The goal is to build well-rounded professionals that can grow with the company.
How Custodian Salary Compares to Other Insurance Firms
When compared to other insurance firms like AIICO, Leadway, and AXA Mansard,
Custodian Life Assurance pays relatively competitive salaries across all levels.
They may not top the list, but they are considered above average in Nigeria’s insurance sector.
Some say Leadway pays better at the executive level, but Custodian offers better job security.
AIICO may offer higher commissions to marketers, but their base salary is often lower.
Overall, Custodian maintains a balanced package that rewards both performance and loyalty.
Tips to Earn More at Custodian Life Assurance
To boost your salary, consider earning professional insurance certifications.
Courses from CIIN (Chartered Insurance Institute of Nigeria) can give you an edge.
Also, consistently meeting targets in marketing can fast-track your promotion.
Cross-departmental experience also helps, staff who rotate into different units earn more.
Take advantage of in-house training, mentorship, and annual appraisals to improve.
The company rewards initiative and long-term commitment with better offers.
Job Roles at Custodian Life Assurance (with Estimated Pay)
| Job Role | Estimated Monthly Salary |
|---|---|
| Graduate Trainee | ₦100,000 – ₦130,000 |
| Customer Service Officer | ₦110,000 – ₦150,000 |
| Underwriter | ₦150,000 – ₦250,000 |
| Claims Officer | ₦180,000 – ₦220,000 |
| Sales/Marketing Executive | ₦50,000 base + commissions |
| Branch Manager | ₦600,000 – ₦1 million |
| General Manager | ₦1.5M – ₦2.5 million |
| NYSC Member | ₦40,000 – ₦60,000 |
| Intern | ₦30,000 – ₦50,000 |
Frequently Asked Questions (FAQs)
How much do marketers earn at Custodian Life Assurance?
They earn commissions between 10%–20% on each policy sold.
High-performing marketers can make over ₦300,000 monthly.
Is Custodian Life Assurance a good place to work?
Yes. They offer decent pay, job security, and professional growth opportunities.
The company also supports career development through training and internal promotions.
Do NYSC corpers get retained at Custodian?
Yes, some do. If you perform well and there’s an opening, they may offer you a full-time role.
Your department and supervisor’s review plays a key role in your retention.
How do I increase my salary at Custodian?
Get professional certifications, meet targets, and apply for internal promotions.
Being proactive and showing leadership potential also improves your chances.
What benefits do permanent staff enjoy?
They get medical insurance, leave bonuses, transport allowances, and yearly bonuses.
Managers enjoy added perks like official cars and higher pension contributions.
Conclusion
Custodian Life Assurance is more than just a place to earn a monthly paycheck.
It’s a stable, structured company that rewards hard work, loyalty, and competence.
Whether you’re a fresh graduate or a seasoned professional, there’s room to grow.
The salary structure is competitive, especially for those in technical or marketing roles.
There are also commissions, bonuses, and allowances that boost total earnings.
While it may not offer bank-level salaries, it gives job security and career progression.
For job seekers, knowing this salary structure helps you negotiate better.
And for interns or corpers, this could be your entry point into a lifelong career.
If you’re aiming to work in the insurance sector, Custodian Life Assurance is a solid choice