Anchor Insurance Pays ‘Loss of Employment’ Claims to 120 Job Losers

Against the backdrop of economic recession plaguing Nigeria’s economy, culminating in loss of jobs by many, insurance sector operators said they are handy to bring succor to affected employees, who acted wisely to take insurance cover against job loss.

Anchor Insurance is one of such insurance firms as it has recently in this regard put smiles on the faces of 120 workers from and outside financial institutions who were relieved of their duties as a result of restructuring exercise embarked by their employers to survive the recession.

These include those who lost their jobs in 2016.

At the presentation of Anchor Insurance Loss of Employment (LoEIS) claims cheques to the beneficiaries, who had adequately taken cover against sudden loss of employment while in full employment, the company advised that it is important that every employee helps protect him/herself from market risks through insurance policy like the Anchor Insurance loss of employment cover.

Aderemi Adesibikan, one of the beneficiaries of claims paid by the company, and a former employee of Heritage Bank, while receiving her claims cheque, narrated her experience, recounting that, she got laid off as a result of restructuring exercise which took place in the bank in December 2016,According to her, it was an occurrence she never expected adding that she would have been seriously devastated despite her severance package from the bank, With the insurance policy she took, she said she was better off adding that she would remain grateful to Anchor Insurance for introducing such insurance cover that will enable her earn income in the next 24 months while searching for another job. In her words “this is really a shock absorber.”

Gbenga Ademola, a former staff of Zenith Bank, who is a full beneficiary of the scheme, said, the only regret he had was not to have insured his full salary, He was however happy that with his sum assured, he would successfully carry his financial responsibility until he gets another job.

Eberechi Ige, another benefi- ciary 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 division Anchor Insurance, Uzoma Ofurum, while presenting the cheques on behalf of the Managing Director, of the company, 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 Nigeria, it is expedient and wise for employees that value their jobs to take appropriate measures to safeguard their employment income through insurance covers such as Loss of Employment Income policy.

He noted that lack of salary but huge unpaid bills could be devastating and can lead to financial depression or even death especially for employees whose retirement age is still far.