Investment and Financial Security Plan

By Oyekola Taiwo Zacharia  email address: consciousofrisks@yahoo.com; phone no: 07063718460

Investment and financial security planning involves building a robust and personalized strategy to manage income, cover expenses, and protect against risks.

The key steps include creating a budget, establishing an emergency fund, reducing high-interest debt from loans, and investing for the future.

There are products approved and regulated by the National Insurance Commission (NAICOM) in the life retail business that can help working-class and self-employed individuals accumulate funds for children’s school fees, business expansion, and retirement within a single product.

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A Flexible Endowment Plan is a product that matures in three instalmental phases. If the policyholder is alive at maturity, they will receive all the proceeds together with the accrued bonuses.

However, in the event of the earlier death of the assured or the owner of the policy, the sum assured, partial maturity benefits, and accrued bonuses will be paid to the nominated beneficiaries to support school fees or ensure business continuity.