120 employees get claims from Anchor Insurance over job loss

By Abdul Olalekan

No fewer than 120 employees who experienced sudden loss of job in the year 2016 have been paid insurance claims under the Loss of Employment Income Scheme (LoEIS) of Anchor Insurance Ltd.

A statement from the company and made available to Business 247 News Online, at the weekend, noted that the 120 beneficiaries, who had adequately taken cover against sudden loss of employment while in full employment, were presented with Anchor LoEIS cheques to some of the beneficiaries.

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 never expected and she would have been seriously devastated despite her severance package from the bank, but she is grateful to Anchor Insurance for introducing such an insurance cover that will enable her earn income in the next 24 months while searching for another job.

Another beneficiary, Gbenga Ademola, a former staff of Zenith Bank’ said, the only regret he had was not to have insure his full salary, but he is happy that with what he insured, he can successfully handle his financial responsibility to the maximum until he gets another job.

Eberechi Ige, who is 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, Anchor Insurance, Mr. Uzoma Ofurum, while presenting the cheques on behalf of the Managing Director, congratulated the beneficiaries for taking wise step to safeguard their employment income against sudden loss of job.

He further reiterated that, beyond any adverse economic state of the country, 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 can be very devastating and can eventually lead to financial hardships, depression or even death.

Reacting on this development, the Managing Director/CEO of the Anchor Insurance, Mr. Mayowa Adeduro, said: “No doubt, 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 organisations, he said, were faced with the harsh economic challenge which is beyond their control; hence, losing job or getting laid off can happen with little or no warning. It’s unfortunate that this very common occurrence can affect anyone at anytime, he pointed out.

To him, “It is a fact that people do become financially disabled once they loose their employment, and a long-term financial disability do bring serious financial and emotional consequences especially for a bread-winner with chains of responsibilities.

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.