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Wapic new Smart Product to boost savings culture in Nigeria

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Aigboje Imoukhuede PHOTO: alchetron.com

Wapic Insurance Plc has designed a Smart Product aimed at encouraging savings culture in Nigeria. The new Wapic Smart Product provides more options to choose from, topped with the life insurance cover the products come with.

The product basically gives one the chance of efficiently amassing reserves toward meeting here and now commitments and crises with an implanted life cover. So this implies for the period you save you are covered.

Speaking at the Launch of the SMART Products, Yinka Adekoya, Managing Director of Wapic Insurance Plc explained that it is difficult to make progress without a plan and goals.

He noted that although financial institutions from banks to insurance companies are daily clamoring to sell the best, but, he however added that very few tie as much benefits to their offerings especially considering that savings is not what Nigerians are naturally inclined to.

“This is why it makes a lot of sense to say that Wapic has done its homework by developing products that are tailored to specific needs and with enticing benefits to go with them.

“There is no doubt that saving toward a particular objective requires a ton of self-discipline, yet considering the different channels accessible through which you can make withdrawals from your savings, utilizing an insurance vehicle such as the Smart plan gives that required control.

“Target Savings is turning out to be the best approach to building a sustainable savings culture particularly where it concerns specific financial goals or objectives.

“No doubt that if this culture gets as mainstream as it would appear that it will, Nigerians will cease to view savings as something to be done when there is excess money but will rather see it as being just as important as eating food for survival.

“Maybe not the first to sell the target savings products, but Wapic with its new SMART products definitely provides more options to choose from, topped with the life insurance cover the products come with.

“Financial institutions from banks to insurance companies are daily clamoring to sell the ‘best’ however very few tie as much benefits to their offerings especially considering that savings is not what Nigerians are naturally inclined to,” he added.


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