By Rosemary Iwunze
Old Mutual Nigeria has urged Nigerians to adopt insurance-backed savings plans in the wake of the prevailing global socio-economic volatilities, uncertainties, complexities, and ambiguities (VUCA).
Executive Head, Marketing and Customer Experience at Old Mutual Limited, Alero Ladipo, who gave the advise noted 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.
According to her, ‘‘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 require all to make smarter financial decisions anchored on guaranteed wealth protection no matter what life throws at these trying times.
She said this is where the Old Mutual Short Term Saving Plan comes into play.
She stated: “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. In other words, whilst we help you put away a reservoir fund for the rainy days, we also ensure that your beneficiaries are in a pole position to get an agreed compensation should life throws up the unexpected. This product brings peace of mind in these VUCA times’’.
Source: Vanguard
