Nigerians have been urged to adopt insurance-backed savings programmes by Ms. Alero Ladipo, Executive Head, Marketing and Customer Experience, Old Mutual Nigeria.
In a statement released on Monday in Lagos, Ladipo stated that this was crucial in light of the current global socio-economic volatility, uncertainties, complexity, and ambiguities (VUCA).
She said that in the face of ongoing market instability, an individual’s capability for financial preparation and security had lost its fidelity.
She added that people’s faith in their ability to forecast the future has diminished as a result of the country’s current situation.
“The reality is further complicated by the complexity of global exigencies, making it harder for experts to analyse correctly.
“These ambiguities and lack of clarity requires all to make smarter financial decisions which is anchored on guaranteed wealth protection, no matter what life throws at us at these trying times.
“This is where the Old Mutual Short Term Saving Plan comes into play.
“This time-relevant savings plan helps you to save funds to achieve your financial goals for the next two years, with a competitive annual interest rate.
“It is even more remarkable that the plan provides a life cover of up to N1 million for a N5,000 minimum monthly premium contribution.
She claims that the product was created to give policyholders peace of mind in these “VUCA” times and to guarantee that their beneficiaries receive the agreed-upon payout from their funds should the unexpected occur.
According to Ladipo, the plan was adaptable and permitted policyholders to alter their monthly risk cover and savings payment at the policy anniversary.
She said; “customers can withdraw up to 50 per cent of their funds only once between six to 18 months and are free to surrender the policy if needed.
“Old Mutual Nigeria has revitalised its website and other digital channels, such as WhatsApp, to enable seamless delivery of an immersive customer experience for the plan.
“We will continue to provide needed insurance education for Nigerians to help them understand risk management and equip them to make informed decisions on how to mitigate them.
“The time is now to adopt volatility-tested insurance solution for all that you cherish, such as; assets, belongings, investments, family, children’s education and future,” she said.
With more than 176 years of experience in delivering life assurance and wealth management, personal finance savings, and general insurance services, Old Mutual Life Assurance Company and Old Mutual Nigeria General Insurance Company are both a part of the global Old Mutual brand.
