The Nigerian subsidiary of Old Mutual Limited (OML) has launched an Education Protection Plan (EPP or EduSure) that assists parents and guardians secure learning for their children or wards
The company said EduSure helps parents and guardians to save for the education of their children/wards, while Old Mutual provides assurance of meeting the goal in case of the policyholder’s death.
In a statement, the Managing Director, Old Mutual Life Assurance Limited, Olusegun Omosehin, stated that an investment in an education plan is the best way of ensuring your child gets the best education without hassles.
With our Education Protection Plan, parents/guardians are guaranteed that their children/wards can achieve the future they desire by simply setting aside a target amount for their future educational goals,” he noted.
Also, the Head, Marketing and Customer Experience, Old Mutual Nigeria, Alero Ladipo, said: “The launch of the Old Mutual EPP is significant, coming at a time the World Bank estimates that Nigeria has 11 million children out of school. Research has also shown that a very considerable portion of this population is children who were constrained to drop out of school due to the reversal of economic realities following the death of a breadwinning parent. We know that death is a reality for any living being, but we now have the financial tools that insulate the children from the impact of death on their future education.”