The management of Anchor Insurance says the company has developed a product called ANCHOR Loss of Employment Insurance Scheme (ALoIES) which is aimed at reducing the biting effect of the current economic recession in the country that have seen many Nigerians lose their jobs in the recent time.
Managing Director, Anchor Insurance, Mayowa Adeduro, assured the public that with LoIES scheme income could be guaranteed after loss of job while their employment income is protected against accidental loss of job.
He made this statement at a recent Pre-Annual General Meeting (AGM) media briefing in Lagos where he claimed the product has already been approved by the National Insurance Commission ( NAICOM).
By its design, Adeduro said the product “guarantees a maximum 24-month salary payment after job loss”.
The Insurance boss advised Nigerians to imbibe savings culture irrespective of their pay package knowing that daily loss of job is on the increase as the country battles economic recession.
Benefits of the product include 100 percent of the insured salary for the first six months, 75 percent of the insured salary for the next six months, 50 percent for another six months and 25 percent for the next six months.
Speaking earlier during the company’s EMBER MONTH INSURANCE AWARENESS CAMPAIGN, Head of Brand & Corporate Communication of Anchor Insurance, Mr Kehinde Olaniyi noted that employees can now have peace of mind, allay frustration and still be able to meet their financial responsibilities even after loss of job.
The company said its objective among many others is to help the economy reduce social ills and criminal tendencies in our society resulting from job loss of an employee, noting that ‘an idle hand is the devil’s workshop’.