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Old Mutual Advocates Insurance-backed Savings For Nigerians

by Zaka Khaliq
2 years ago
in News
Old mutual advocates
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Old Mutual Nigeria, a subsidiary of Old Mutual Limited(OML), has advised Nigerians to adopt insurance-backed savings plans in the wake of the prevailing global socio-economic volatilities, uncertainties, complexities, and ambiguities (VUCA).

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The executive head, Marketing and Customer Experience at Old Mutual Limited, Alero Ladipo, 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.

“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 stated.

To this end, she said, the Old Mutual Short Term Saving Plan would help in this regards.

“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 N1 million for a N5,000 minimum monthly premium contribution.

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“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.

brings peace of mind in these VUCA times,” she pointed out.

Disclosing that the plan also provides flexibility that allows policyholders to increase or decrease their monthly savings premium and risk cover at the policy anniversary, she added that, customers can withdraw up to 50 per cent of their funds only once between 6 to 18 months and are free to surrender the policy if needed.

To ensure that its numerous existing policyholders and prospects can access the product conveniently and real-time anywhere in Nigeria, Alero said, Old Mutual Nigeria has revitalised its website and other digital channels, such as WhatsApp, to enable seamless delivery of an immersive customer experience.

Promising that Old Mutual 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, she stressed that “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.”


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