By Adejuwon OSUNNUYI
Anchor Insurance Company Limited had paid claims to a total number of 120 employees who experienced sudden loss of job in the year 2016.
At the presentation of the Anchor LoEIS cheques to some of the beneficiaries who had adequately taken cover against sudden loss of employment while in full employment last week, the insurance company reiterated that every employee can help protect him/herself from market risks by subscribing to the job loss insurance scheme.
Aderemi Adesibikan, a former employee of Heritage Bank, while narrating her experience, recounted that, she got laid off as a result of restructuring which took place in the bank in December 2016, an occurrence she said she never expected.
Adesibikan said she would have been seriously devastated despite her severance package from the bank, but she was grateful to Anchor Insurance for introducing such an insurance cover that enabled her earn income in the next 24 months while searching for another job.
“This is really a shock absorber”. She said.
Also, another beneficiary of the scheme, Gbenga Ademola, a former staff of Zenith Bank while speaking at the cheque presentation said the only regret he had was his not insuring his full salary.
He said he was however glad that with what he insured, he can successfully handle his financial responsibility to the maximum until he gets another job.
Eberechi Ige, another beneficiary, a former employee of UBA Plc also appreciated the innovativeness of Anchor Insurance for designing such a product.
She recounted her experience as someone who has insurance culture; hence, embracing the product was not an accident.
The General Manager Retail, Mr. Uzoma Ofurum while presenting the cheques to the beneficiaries congratulated the them for taking wise step to safeguard their employment income against sudden loss of job.
He further reiterated that, beyond any adverse economic state of nation, it is expedient and wise for employees that value his/her self esteem, to take appropriate measures to safeguard their employment income through insurance covers such as Loss of Employment Income.
He stated that not having a salary and having your bills pile up without hope of any income could be very devastating and could eventually lead to financial hardships, depression or even death.
According to him, in reality, the money set aside for Pensions would not be easily accessible especially where the age of the affected staff is way below the designated retirement age of the firm.
The Managing Director/CEO of the Anchor Insurance, Mr. Mayowa Adeduro, said, “Preservation of life and livelihood is the greatest pre-occupation of man since creator breath life into man. Income is the building block of our financial life which helps to handle financial responsibilities and achieve desired dreams. This means, man must work every day to ensure there is consistent income for sustenance of livelihood”.
Many firms and organizations are faced with the harsh economic challenge which is beyond their control; hence, losing job or getting laid off could happen with little or no warning.
Anchor LoEIS is a product developed out of the yearning of millions of Nigerians for a product that meet their needs and address their challenges.
The product enjoys adequate technical support from Reinsurance Companies and an Actuarial Firm.
Anchor LoEIS was approved in 2015 by National Insurance Commission (NAICOM).
Anchor Loss of Employment Insurance Scheme is the newest and latest solution to protect employment income; it is also a safety net, shock absorber or cushion for the harsh effect of a sudden loss of job.
In the mist of economic recession and uncertainties inherent in our environment, Anchor LoEIS is sure the most preferred insurance cover for workers.
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