The middle class in Nigeria is burgeoning. The middle class citizens are mostly educated urban dwellers, who are mostly professionals and formally employed. To this middle class, privateinsurers products are very important, due to their changed environment and demographic characteristics. Furthermore, new demographic situation which increase the percentage of the elderly, coupled with a falling birth/death rates and expectation of high level of health care and pensions, makes big pressure on social security system and could have negative effect on economic growth.