Old Mutual launches savings plan for young people, families

Old Mutual, has launched its 2 in 1 savings plan for customers in Nigeria, especially young professionals and families.

Based on the new product, with a minimum monthly contribution of N5,000, customers can save up funds for a period of five or 10 years to fund their future financial goals.

A statement from the company said 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.

Another critical component of the plan, it said, is the protection on the savings, so that in the event the policyholder passes away in the course of the savings plan, the assigned beneficiaries will receive the originally targeted sum as assured in the plan.

Commenting, 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.’’