Old Mutual Nigeria Life Assurance Company, a subsidiary of Pan-African insurance giant and leading global financial services group, Old Mutual Limited, has reiterated its commitment to the provision of financial protection against critical illness for Nigerians.
The company reiterated its commitment at the World Health Day Media Parley it organised in Lagos, on Monday, in partnership with Hygeia, a Health Management Organisations (HMO) and Roche.
“Roche is Swiss multinational healthcare company that operates worldwide under two divisions: Pharmaceuticals and Diagnostics.”
Nationaltrail reports that 2019 World Health Day was held on April 7 with the theme: ” Health for all ”
The Managing Director, Old Mutual Nigeria Life Assurance Company, Mr Keith Alford at the event, emphasised the importance of Healthcare Coverage.
Alford said that with Universal Health Coverage, everyone can obtain the right kind of medical care and in due time, without suffering financial hardship.
He noted that the financial hardship becomes heightened in the cases of terminal illnesses due to prolonged costly treatment and deadly impact.
“Currently, over 800 million people worldwide spend at least 10 per cent of their household budgets to pay for health care.
“In sub-Saharan countries like Nigeria, medical expenses are often made pockets with little coming from government or privately structured healthcare management initiatives.
“In the case of terminal illness, many have lost their jobs and their source of income significantly affected.
“Families have been driven into poverty in a bid to raise money for the treatment of loved ones.
“Unfortunately, insurance which ideally serves as financial protection has not been fully utilised by Nigerians,” he said.
Alford emphasised the need to plan with insurance policies specially designed to provide protection from the financial burdens of terminal illnesses.
Alford posited that Old Mutual Nigeria Life Assurance Company entered into a partnership with Roche and Hygeia to develop this innovative insurance plan to protect Nigerians from the financial implications of terminal illness.
“As we commemorate World Health Day today, we use this occasion to call on Nigerians to choose life and take up the insurance cover as a protection against the financial burden of terminal illnesses, that usually invade lives unannounced”, he added.
The Executive Head, Marketing and Customer Experience of the Company, Mrs Alero Ladipo at the function, said the timing of the product is right.
She said the product covers critical illness like Cancer, diabetes, stroke, Kidney failure amongv others.
She expressed regrets that Nigerians mostly resulted into crowd funding, to pay for medical bills.
According to her, many have even resulted into begging in religious places to augment medical bills, we call on Nigerians to chose life by buying the product.
“Old Mutual has made it easier by its “Critical illness insurance Cover” and for as low as N5000 monthly or N60,000 annually, someone can get a cover up to N5 million, if the critical illness happened within 5 years.
The Country Manager, Roche Pharmaceutical Company, Dr Dr. Ladi Hameed said having a critical illness insurance cover that also permits someone to access doctor anytime with peace of mind.
“With ‘Critical illness insurance Cover’ in hand, there is no panicking.
We will work with Old Mutuals by bringing in our expertise, ” he said.
Nationaltrail reports that Old Mutual General Insurance Company and Old Mutual Nigeria Life Assurance Company are part of Old Mutual Limited, which provides protection, savings, investment and lending services to 11.3 million customers in 17 countries across Africa, Asia and Latin America.