Amid the current global socio-economic volatility, uncertainties, complexities, and ambiguities (VUCA), Old Mutual Nigeria, a subsidiary of Old Mutual Limited (OML), is recommending insurance-backed savings plans to Nigerians.
Alero Ladipo, the executive head of Marketing and Customer Experience at Old Mutual Limited, stated that continued market volatility erodes an individual’s financial planning and security, reducing their confidence in predicting the future.
To counter these complexities, she suggested that smarter financial decisions should be made, anchored on guaranteed wealth protection. Old Mutual’s Short Term Saving Plan is a time-relevant Savings Plan that allows individuals to save funds to achieve their financial goals for the next two years, with a competitive annual interest rate.
Additionally, the plan provides life cover of up to N1 million for a N5,000 minimum monthly premium contribution. Policyholders have the flexibility to increase or decrease their monthly savings premium and risk cover at the policy anniversary, withdraw up to 50 per cent of their funds once between 6 to 18 months, and surrender the policy if needed.
Old Mutual Nigeria has revitalised its website and other digital channels, such as WhatsApp, to ensure its numerous existing policyholders and prospects can access the product conveniently and in real-time anywhere in Nigeria.
Ladipo stressed the importance of adopting volatility-tested insurance solutions for assets, belongings, investments, family, and children’s education and future, and Old Mutual will continue to provide needed insurance education for Nigerians to help them understand risk management and make informed decisions on how to mitigate them.
