Wapic Smart, a new product from rejuvenated insurer, Wapic Insurance Plc, has been launched into the Nigerian market as a savings product to build a sustainable saving culture, according to an explanatory note sent out by the company.
The company said the product would help people achieve their financial goals, especially where there is a specific goal or objective being targeted by potential enrollees of the new product.
Yinka Adekoya, Wapic Insurance managing director, noted that to make progress requires having a plan and setting goals, adding that “ it is difficult to make progress without a plan and goals. ”
She advised Nigerians not to see saving as something only to be done when they had excess cash, but to see it as an activity that was as important as eating food for survival.
The company plans to expand the Smart product to give takers more options for them to choose from, in particular. Adekoya said there would be an addition of a life insurance cover to the bouquet.
Financial institutions, from banks to insurance companies, were clamouring daily to sell the best savings product, She said, adding, but few attached huge benefits to their offerings.
“This is why it makes a lot of sense to say that Wapic has done its homework by developing products that are tailored towards specific needs and with enticing benefits to go with them. The products basically give one the chance of efficiently amassing reserves, towards meeting commitments and carrying a life cover. So, this implies that for the period you save, you are covered, ” she said.