By Dipo Olowookere
In order to encourage Nigerians build a formidable savings culture, one of the nation’s leading insurers, Leadway Assurance Company Limited, has introduced a new secure insurance savings product.
Called the Leadway Savings Plan, this product combines both elements of investment and wealth accumulation.
Business Post gathered that the new product was launched under the ‘Saving Dreams’ campaign, which addresses various attainable dreams of the Nigerian adult population.
Leadway Savings Plan was uniquely designed to not only help Nigerians save towards a brighter future but also offer additional life insurance protection element should the unexpected occur.
This product allows policyholders contribute an affordable minimum monthly premium of N10,000, which accumulates interest at an attractive rate during the term of their policy.
In addition, the policy includes a Life Insurance which offers compensation in the sum of N250,000, payable in the event of the passing away of the policyholder.
This special feature distinguishes the Leadway Savings Plan from the traditional savings system as it not only encourages savings but helps people make solid financial plans irrespective of what life may throw their way.
The Leadway Savings Plan at an extra premium charge, may also be extended to certain critical illnesses or the risk of permanently disability due to an accident.
Speaking on the campaign, Head of Life Business at Leadway Assurance, Mr Tinashe Muyambo, stated that, “In alignment with our brand proposition of providing a robust wealth creation and financial freedom for Nigerians, we designed the Leadway Savings Plan for our consumers to approach the future with certainty and confidence.
“We are promoting the Saving Dreams campaign with the aim of promoting the message of healthy financial management through a well-planned savings culture. Given the low savings culture in the country – with only 42 percent of Nigeria’s adult population having a savings account, this campaign will help our strategic objective of endearing people to save towards their dreams.
“With almost five decades in the underwriting business, we understand that beyond the savings element which traditional financial institutions offer, there is also the need for people to protect those dreams they are saving for in the face of the unexpected. Hence, the additional of life insurance element to the Leadway Savings Plan which as insurers, addresses our goal towards increased and assured financial security.”
Leadway Assurance is one of Nigeria’s foremost insurance service companies with a reputation for service efficiency and customer reliability. The organisation is committed to bridging the financial protection gap and increasing the rate of insurance penetration in Nigeria.
Adedapo Adesanya