Old Mutual Launches 2 in 1 Savings Plan, Sets N5000 As Minimum Contribution

Executive Head, Marketing and Customer Experience, Old Mutual, Alero Ladipo

By LOVETH AZODO, Lagos

Old Mutual Ltd has said that with a minimum monthly contribution of N5,000, customers can save up funds for a period of five or ten years to fund their future financial goals as it launched its 2 in 1 Savings Plan for customers in Nigeria, especially for young professionals and families,

The plan also gives the customer the opportunity to access a part of the savings for immediate needs during the savings period, should the need arise; thereby providing financial security.

According to a stated issued by the company’s Spokesperson, Idris Aina, another critical component of the plan is the protection on the savings, so that in the event the policy holder passes away in the course of the savings plan, the assigned beneficiaries will receive the originally targeted sum as assured in the plan.

Commenting on the recent development, the Executive Head, Marketing and Customer Experience, Old Mutual, Alero Ladipo said; “We understand that life is filled with a constant juggling of our priorities.”

“Trying to excel in our career, expand our businesses, get another degree, start a family, raise the children, provide education for them; yet take care of our siblings and parents, all on an income is a stretch for many.”

“At Old Mutual we realise that entrenching a savings culture will help individuals realise dreams that day to day life tries to take away from them. We know as a business with over 170 years of wealth creation and management that smart financial planning is the answer to a future of financial security.”

“It is on the back of these insights that we enhanced the 2-in-1 Savings Plans to allows you save towards your life goals over period of at least 5 years and with the added benefit of insurance protection, so that if life’s uncertainty happens in the course of saving for your future dreams, a chosen beneficiary will still receive the targeted sum. In other words, if you have set out to save for your child’s education and death unfortunately occurs, the 2-in-1 Savings Plan protects that dream from falling apart and ensure that the child gets the targeted sum.”

Old Mutual General Insurance Company and Old Mutual Nigeria Life Assurance Company are part of Old Mutual Limited which provides protection, savings, investment and lending services to 11.3 million customers in 17 countries across Africa, Asia and Latin America.

Having acquired the majority stake in Oceanic Life Assurance Company, Old Mutual has been operating in Nigeria since March 2013. In January 2014, Old Mutual also acquired a majority stake in Oceanic General Insurance Limited thereby offering both life and general insurance solutions tailored to meet unique individual and corporate client’s needs.