Article

How to Show Yourself Some Financial Love This Valentine Season

Posted on: 12th Feb 2019

Everyone right now who is coupled up either by the virtue of being married or just in a relationship, is practically in a utopia where everything smells like, looks like and even tastes like love. Their entire being is focused on assembling all the love they can produce, ready to shower it on their partners. On the other hand, there is the group preparing to receive this show of love, or rather, this grandiose and elaborate show of affection (and we’re referring to both men and women, as this goes both ways and that we can assure you). The love scenarios will play out endlessly for the next couple of days (perhaps for the rest of the month) and it will be all thanks to the Valentine season.

After all, is said and done, we can only help but reflect on these simple yet true words; “how can you love another, if you don’t first love yourself?” The truth of the matter is that it is technically impossible. Anyone that doesn’t exercise what is termed “self-love” will find it a bit challenging to love someone else. You must first love yourself and what better way to do so than in the area of your finances.

So, the question here is how can you show yourself some financial love?

 

 

  1. Opt for a Financial Savings Plan.

Everybody’s getting chocolate and sweets and flowers and all that lovey-dovey stuff, but you can get one better. How? By setting up a savings plan. This can be done however you choose, as long as you’re saving and it starts now.

Whether it’s opening a dedicated savings account, or talking to your account officer to do one of those electronic account set-ups where a portion of your income goes directly into a reserved savings account, just get it done and gift yourself something special this season.

 

  1. Create a Solid Budget.

One of the best financial gifts you can give yourself is to make an expense budget and stick to it. In the long run, you would’ve found a way to save money and if that doesn’t make you happy we don’t know what will (perhaps, saving more money).

Creating a budget helps you cut down unnecessary spending. Take this Valentine season, for example, you might be tempted this period to do a lot of impulse-buying. Anything that has a love shape on it or just looks really red and you might be tempted to pull out the wallet or bag and swipe the ATM card. Don’t do it, make a budget and follow it religiously.

 

  1. Kick start Investments for your Future.

This is the time to start making wise investments. This is the kind of Valentine gift whose value will peak in the long run. Don’t think of right now, but instead think of the future. See Investments made this season as a gift for a Valentine in the future.

 

  1. Take Out a Life Insurance Package.

If you really want to show yourself some love this season, think of the ones you love and how much they mean to you. When you’re able to see this picture clearly, you’d know that taking out a life insurance plan will determine what happens to them when you’re no more. Give them the Valentine gift of a lifetime.

Note also that, some insurance companies (African Alliance for example), also have saving plans intertwined nicely with life covers attached.

 

In fact, there are many ways to show yourself some self-love, but even in this season of Valentine, some people would prefer a financial upgrade to gifts and grand expressions. Many would take some money or the assurance of one, over a cardboard box wrapped with a bow.

 

Article

Saving Tactics for Entrepreneurs and SMEs

Posted on: 24th Jan 2019

Nobody takes on risks like the entrepreneur and this is no easy feat. They bear the whole burden of the business and their responsibilities are usually through the roof. They are typically owners of Small Medium Enterprises (SMEs) and this puts them in a precarious position where they have to provide, secure and grow their business and most likely on their own. To do this, they need to imbibe the constant habit of saving otherwise they are in for a very short time in business.

There are different ways entrepreneurs or small business owners can save up cash that will eventually aid the growth and sustenance of their businesses. No one expects SMEs to churn out multi-millions in profit like huge companies and other long-standing corporate entities (at least not immediately). Therefore, whatever little an entrepreneur is able to save counts as something and will go a long way in storing up for the future of the business.

Some of the saving tactics entrepreneurs and SMEs can employ in their places of business are as follow;

 

  1. Eliminate Debts before They Emerge.

There are avoidable and completely unnecessary debts that your business shouldn’t have to deal with in the first place. Make sure to spot these debts beforehand so as to avoid wasteful spending.

Debts owing to bills from the use of certain facilities or services that your business can do without, should be either capped, minimized or completely scrapped. You need to evaluate your expenses and purge your business of whatever excesses that exist.

  1. Subscribe for Legal Cover.

In a bid to save money as an SME, the last thing you want to happen is for you to lose money. In line with this school of thought, it would make a lot of sense to avoid losing money (thereby saving money) by taking on some legal cover.

Yes! You need an attorney and it will serve you well to hire one. He or she will help you make informed decisions in your business. This is an effective way not to lose the money you’re trying so desperately to save. Having legal cover ensures your business is not left wide open to lawsuits or business moves that will jeopardize the finances of your business and the business in general.

  1. The African Alliance Esusu Plan.

As mentioned earlier, we are not expecting SMEs and their owners to cough out millions upon millions as profit. However, we also did mention that whatever little you’re able to save will go a long way and we meant it.

The African Alliance Esusu Plan was created for such instances. It is a plan that allows entrepreneurs and small business owners to make monthly deposits for a period of 1 year before cashing out their total money deposited along with the accrued interest. It is an incredible way to save, as with a minimum of 5,000 naira an entrepreneur can begin monthly contributions. And at the end of the year, you get to retrieve all your contributions with the generated interest. You also get a life cover under this plan.

 

For entrepreneurs and SMEs to thrive, they must seek out and employ these saving tactics. For such a delicate thing in business such as saving money, you want to be intentional when making use of these steps to save. Make sure it matches the pace at which your business makes a profit and any other specifics peculiar to your business.

Article

3 Reasons to Take an Insurance Plan for Your Kids While They are Young.

Posted on: 28th Dec 2018

It’s a bit of an old wives tale to learn that life insurance is still being greatly misunderstood or not understood at all, even in this dispensation. In the midst of the crosshairs lies the debate on the need to take life insurance for your kids when they are still young.

 

There have been so many disputes concerning this topic and people would often argue that there was simply no need to buy life cover for a young child. This argument is based mostly on the fact that a child who has not yet lived and most likely stands a lower chance of passing away, would not need an insurance plan. This argument seems solid until you hear our reasons why you need to take an insurance plan for your young child and we have as much as three.

 

  1. Financial Security.

Taking out an insurance plan for a young child might seem pointless but only when you’re thinking of the ‘now’. You need to be able to see how subscribing to an insurance plan will benefit your young children financially when they eventually become young adults and even older. It’s a financial safety net for important life needs of the child. Things as essential as tuition for school and other financial needs can be settled by taking a life cover for that very young child. It’s really as simple as imagining the kind of future you want for that child, especially as he or she would not remain a child forever.

 

  1. Eligibility for a Better Life Insurance.

Your young child who possesses a life cover is a very strong candidate for a better one when he or she is much older. The quality of that life insurance is also stepped up by virtue of the fact that your child has a history of life insurance. All your kids need to do when they are of age, is to apply for a cover that better suits their needs as the case may be. For them when older, it’s a matter of stepping up a good deal to a great one.

 

  1. If and When The Child Passes.

Some people would like to be sentimental or sometimes even emotional and claim that they won’t lose their children. Others just see it as a very low probability. But can you really say? Of course, nobody wishes an unfortunate thing as such for his or her kid(s), but wouldn’t you rather be prepared? Wouldn’t you rather have a life insurance plan to take care of all the financial commitments that would arise as a result of their passing, while you are left alone to properly handle your grief? Think about it. This life cover can also serve as a provision for you and your family should you even need to take time off work.

 

This article started with strong arguments, but having listed these reasons why you should take up an insurance plan for your young child, you can see that this is clearly a matter of reality and facts. The reality is what it is – uncertain, but the fact also remains, that you can always be better prepared when you get your young child a life insurance plan.

 

Article

3 African Alliance Insurance Policies to Kick-start an Investment Lifestyle

Posted on:

 

The secret to a better lifestyle, an investment lifestyle, isn’t by waiting to first have monthly earnings like a Femi Otedola or the annual income of a Dangote. No! You don’t have to be making insane money to live a financially secure life. You don’t need a promotion to MD before you make buying insurance policies your priority. You can be an employer or an employee, you may hold a white-collar job or you might even be an entrepreneur, but whatever you do, you are not unfit to kick-start a life funded by investments.

 

At African Alliance, we believe that life should be wholesome and that one of the greatest achievements you can make while alive, is investing in insurance policies that will benefit you and cater for your family should the tides of fate no longer favor you.

 

There are policies that seek to only insure life and that’s about it, but we’ve made it a top priority to insure life and assure you a certain lifestyle while at it. It is not an illusion when we say you can enjoy a plush lifestyle purely hinged on insurance investment policies uniquely tailored to give you the best life.

 

Allow us to introduce to you, three (3) of such peculiar insurance policies that will get your investment lifestyle underway.

 

  1. The Investment Plus Plan.

How incredible will it be if we told you that you could save money, earn interest on said savings and automatically attain a life cover? Almost too good to be true, right? But guess what? It’s as real as it gets. From as low as N4999.99, you can invest in your future by making savings which generate a 5% interest paid to you. This is of course in addition to the life insurance your family is awarded, should anything happen to you.

 

  1. The Money Appreciation Plan.

With this policy, you are allowed to make an investment by pulling together savings that will result in earnings where the payout is up to 30%. In every one-third of the period of cover, the payout will suffice. If you were thinking of making savings elsewhere, this plan allows you to put your best foot forward in one fell swoop. This is because, in addition to your savings, this hybrid investment plan comes with a life insurance cover as well. Your money literally appreciates within the duration of the plan and you can always cash out when it matures.

 

  1. The Children Education Plan.

There are very few things in life more worthwhile than your children and so it’s no wonder that parents often do their best to invest in the educational future of their young ones. Therefore, the children education plan was created to do justice to parents who aspire to give their children quality education. The secret of some unassuming people around you who have kids in some of the best schools is the children education plan. It allows them to invest and look out for their children while they’re alive and even when they are no more.

 

Amazing stuff isn’t it?! Talk about living the life even on the occasion of your demise, as these insurance policies will have you so well invested, you and your family can finally have one less thing to worry about. All you have to do is make the decision and set the ball rolling because if it’s cover you seek, African Alliance got you covered.

Article

5 Misconceptions about Life Insurance Held by Nigerians

Posted on: 27th Dec 2018

Nigerians are critical people. They are ruled by values decades old and still make decisions based on fractured information even in these modern times. You would think that at least with the emergence of the internet, everybody could cure themselves of any misconceptions or myths but sadly, this is hasn’t proved sufficient. Even in this present day, it will shock you to discover the alarming number of misconceptions that Nigerians hold towards certain things, one of which is life insurance.

 

For reasons yet unfathomable, many Nigerians have subscribed to misguided notions concerning life insurance. Whether it’s a lack of information that stems from an unwillingness to make their own research or something more profound, these misconceptions have ruled the Nigerian populace for far too long.

 

We have been able to put together five (5) of the most common misconceptions about life insurance that wax stronger with each day amongst unassuming Nigerians.

 

  1. Life Insurance Companies Do Not Pay Claims.

Nigerians cannot be blamed for having trust issues when it comes to pay-outs. They are more or less used to getting hoodwinked in these kinds of situations. Hence, they have naturally grown a resistance to trusting organizations that make promises to pay claims whether legally binding or not.

 

Nonetheless, Nigerians must know that this is a myth, an untrue tale peddled as facts, that life insurance companies such as African Alliance, do not pay claims. But on the contrary, each year life insurance companies, African Alliance included payout billions of naira in claims to Nigerians via various insurance policies.

 

  1. It is Extremely Expensive.

This particular misconception has to be the chief reason many Nigerians and in fact, many people around the world, hesitate to subscribe for life insurance. No one knows when or how or even why this rumor is all over the place, but if you ask any random person why they are yet to take out a life insurance policy, they are most likely to state that it’s just too expensive.

 

Some people have overshot the price of life insurance by as much as 200-300% the original amount due to a general misconception. Life insurance is actually quite affordable and depends on factors like gender, age, health status and so on. Plus there are different plans to suit your needs and requirements.

 

  1. Only The Spouse with The Larger Income Needs Life Insurance.

People often assume that only the person making the most money should take out a life insurance policy and this is not true. The truth is, whatever financial aid the other spouse is able to provide with what little income he or she makes, may prove difficult to sustain should anything happen to them or their source of income.

 

  1. Do It Once and Get It Over and Done With.

This refers to people who feel taking out a life insurance policy is a one-off affair. The terms of your life insurance plan as at when initiated were tailored to cater for your needs at the time. Time passes and your lifestyle changes, meaning your life insurance plan has to follow the same trend. You could’ve gotten married, had kids or even bought a car or two and this means you’d need to update your life insurance plan to fit into your new lifestyle. You simply cannot do it once and be done with it.

 

  1. Way Too Young for Life Insurance.

There’s no such thing as being way too young to get life insurance. As a matter of fact, the earlier the better. As a young chap, you are most likely in the healthiest state of your life and life insurance at such a time happens to be way cheaper. Do it now, just do it.

 

Life insurance policies are made to attend to your needs and to secure a financial future for your family. Do not procrastinate or be swallowed up my fabricated myths and misconceptions that don’t hold water.

 

Subscribe to a Life Insurance Plan With Us Today.

Article

5 Christmas Gift Ideas for Family Members.

Posted on: 4th Dec 2018

 

The season of Christmas tells of joy and happiness. It’s a time when families do their best to come together to celebrate the holidays. Now, whether you’re in the same house, same city or in the diaspora, whether you’re coming home this Christmas to see your loved ones or not, everybody and more importantly every Nigerian knows they cannot show up empty-handed. You may not have a pot belly and white beards or a red and white suit with an army of reindeers, but as far as most Nigerian families are concerned, you are your family’s Santa Claus and you are expected to come bearing gifts.

 

The bone of contention, however, is that even though most people are thoughtful and want to appreciate their families by gifting them wonderful things this Christmas, they are also worried about the finance to do so and wouldn’t want to hurt their savings.

 

Even more importantly, many do not know how to go about it and hence, we have done our best to have listed here, a wealth of considerations outlining five (5) gift ideas for family members. They are;

 

  1. A Christmas Holiday Trip.

There are many ways to go about gifting your loved ones a fun Christmas holiday trip. In Nigeria, there are fun holiday locations around the country. This gift idea is suitable for the whole family. The year has been tough and a holiday trip away from home is a good idea.

 

  1. Special Spa Treatment.

Nobody ever turns down a spa treatment. It’s going to be even more memorable if they’ve never been to a spa ever or in a long while. With the stress the typical Nigerian has to endure all year, some deep tissue massage, beauty treatment, pedicure, and a manicure would do your family members some good.

 

  1. Clothes, Jewelry & Clothing Ornaments.

You can never go wrong with gifting your family clothes. If you’re able to do your research beforehand, get them clothing items they’ve been desiring all year. You can also take the initiative to get them customized pieces of clothing, jewelry for women, watches, cuff-links, and ties for men, perfumes and so on. If you can obtain their measurements, some tailor-made attires will leave them in high spirits. Also, while this gift idea cuts across all the categories, the children in a typical Nigerian family expect their Christmas clothes, so it’s a no-brainer.

 

  1. Gift Card or Gift Voucher.

Some family members are very unpredictable when it comes to giving them gifts. Whether it’s Christmas or even their birthdays, you just don’t know what they want. You might even be tempted to give them money instead. Nonetheless, purchasing a gift card or voucher easily solves this dilemma. There’s nothing better than a shopping spree having been blessed with a gift voucher to gift yourself what you want.

 

  1. The Gift of Life Insurance.

You want to give your family members something they can all enjoy at the same time? Are you thinking of leaving them gifts beyond just Christmas? Then sign up for a life insurance policy and give them the best gift of all this Christmas.

 

Nigerians are very family-oriented people.  They will move mountains for you just by emerging from the same tribe or having come from the same village. So it is only expected that for family members, one has to be intentional in giving gifts that would put smiles on their faces.

 

 

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