This study examines the implication of life assurance patronage on the Nigeria economy. The nature of life insurance business should do with the indemnification of the insured or the insured’s beneficiary on the maturity of the life insurance contract or on the death of the life assured. Life insurance patronages in Nigeria are confronted with several challenges that hinder its impact on the Nigeria economy which include; inflation, political instability, low domestic saving, customers lack familiarity with life assurance products, interest rate and low income. However, the objective of this study is to show the implication of life assurance gross premium on insurance companies assets, to examine life assurance business in Nigeria, to examine the implication of life assurance patronage and hence its importance to the Nigeria economy. In order to achieve the objectives of this study, data were collected from secondary sources and analyzed descriptively.
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