Old Mutual Limited, a pan-African investment, savings, insurance, and banking group has asked Nigerians to make smart financial decisions to avoid being caught on the financial crunch ravaging the nation‘s economy.
The insurance firm then recommended that Nigerians should adopt insurance-backed savings to help wrestle the socio-economic volatility to the ground.
Executive Head, Marketing/Customer Experience, Alero Ladipo, said it was pertinent for Nigerians to adopt this form of savings plans in the wake of the prevailing global socio-economic Volatility, Uncertainties, Complexities, and Ambiguities (VUCA).
Also, the insurance expert hinted that Old Mutual’s numerous existing policyholders and prospects can access the product conveniently and real-time anywhere in Nigeria, following the revitalisation of its website and other digital channels, such as WhatsApp, to enable seamless delivery of an immersive customer experience.
“Beyond providing products like this, we will continue to provide needed insurance education for Nigerians to help 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 hold dear: assets, belongings, investments, family and your children’s education and future,”
Alero explained that the capacity of an individual’s financial planning and security loses its fidelity in the face of continued market volatility, eroding the confidence with which they can predict the future.
She maintained that the reality on ground is further complicated by the complexity of global exigencies, making it harder for experts to analyse correctly, adding that the ambiguities and lack of clarity require everyone to make sound financial decisions anchored on guaranteed wealth protection no matter what life throws out in these trying times.
In other to help the low and middle class income earners, she said the Old Mutual Short Term Saving Plan would help to mitigate the impact of the current economic retardation.
“This time-relevant Savings Plan helps you save funds to achieve your financial goals for the next two years, and it bears a competitive annual interest rate. It is even more remarkable that the plan provides a life cover of up to 1 million Naira (N1,000,000) for a Five thousand Naira (N5,000) minimum monthly premium contribution.
“While we help you put away a reservoir fund for the rainy days, we also ensure that your beneficiaries are in a good position to get an agreed compensation should life throws up the unexpected. This product brings peace of mind in these VUCA times.
“The plan also provides flexibility that allows the Policyholder to increase or decrease their monthly savings premium and risk cover at the policy anniversary. Customers can withdraw up to 50% of their funds only once between 6 to 18 months and are free to surrender the policy if needed” she affirmed.
