Old Mutual Nigeria introduces Education Protection Plan  

 Ebere Nwoji

In recognition of the role of education in social and economic development of future generations, the Nigerian subsidiary of Old Mutual Limited (OML) has launched an Education Protection Plan (EPP or EduSure) that assists parents/guardians secure uninterrupted learning for their children/wards. 

The policy, according to the company would help parents/guardians save towards an educational goal for their children/wards, while Old Mutual provides the assurance of meeting that goal in the event of the policyholder’s death. 

Speaking during the launch of the product, the Executive Head, Marketing and Customer Experience, Old Mutual Nigeria, Alero Ladipo, said the product was targeted at helping more Nigerian parents/guardians achieve the desired future for their children/wards no matter what life serves them in the future. 

“The launch of the Old Mutual EPP is significant, coming at a time when 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 are 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”, she said.

The Managing Director Old Mutual Life Assurance Limited, Olusegun Omosehin also stated; “Investing in an education plan is an intelligent way of ensuring your child gets the best education possible without the exigencies of life interrupting their learning process. 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.”