Article

#SecureTheBag2019: 3 Ways Smart People are investing in 2019

Posted on: 6th Aug 2019

There is still a healthy five months remaining in the year, 2019 and as you might reckon, it’s been a good one so far for many folks. However, as more people figure out intelligent ways to make the most out of the year, one cannot help but wonder how he/she can get in on the action. Investments. It’s the key to real wealth and to put it quite simply, the best way to secure the bag in the year 2019. Obviously, you’re not planning to make only enough income to stuff into a duffle bag (for those who don’t get the argot or reference) but it’s actually a mantra/slogan that reminds you to always stay focused on acquiring multiple streams of wealth, or in this case investments.

 

In times like this when all sorts of financial interests abound, what are smart ways one can invest in the year 2019? Without further ado, these are the three (3) best ways we could come up with to invest in 2019. They include;

 

  1. The African Alliance Investment Plus Plan.

The Alliance Investment Plus offers a sweet deal for virtually everybody as it allows you to truly invest in your future. The African Alliance Plus Plan provides you an avenue to save money and it also gives you the almost unbelievable benefit of earning up to 5% in interest. Investing in this plan is a smart one as it also has attached to it a life cover that reaches amounts as high as 1 million naira. There are not many insurance companies pushing investment plans that come with life insurance let alone the provision to assign one like this to your documented beneficiaries in the event of your death. Find out more about this investment plan: Click HERE

 

  1. Your Career.

Your career is such a pivotal part of your wealth creation process as the money that you use as seed capital for most of your investments come from here. In making investments for your career, you want to consider the Income Investment Plan by African Alliance. This plan allows you to save up for a minimum period of up to 5 years. In that time, your savings also afford you a basic life insurance cover. Take a moment and think of the amount of money you can generate to help further invest in your career. Find out more about this plan: Click Here

 

Nonetheless, you can also improve your career stance by making yourself more marketable to employers. Depending on the amount of free time you have, get a certification, a Master’s Degree, etc. It can be weekend or night classes or can even be done online.

 

  1. A Side Hustle.

The year 2019 is operation #SecureTheBag by any means necessary (as long as it’s legal anyway) and this couldn’t be more profound as statistics show that this year alone has recorded a surge in entrepreneurship. People are taking their own destinies into their hands and setting up side hustles that earn them some extra income. As a matter of fact, some smart people have been able to grow these small businesses so much that it generates more income than that of their regular jobs. The questions to ask yourself include; what am I passionate about? Which hobby can I turn into a business? Answer these and you might just be on your way to a lifetime investment.

 

The year 2019 belongs to smart people who are willing to take chances and make some viable investments. African Alliance has made it possible to have viable investments and cheap insurance in one balanced package. Our doors are always open and if you intend to join the league of smart people, if you want to be part of the club, then don’t hesitate to reach out to us.

Article

Parenting your Parents: Life Insurance for Parents

Posted on: 14th Jun 2019

Your parents (whether both biologically related to you or not) play a pivotal role in your existence. They each have one life and what happens typically is that they devote that life to a lot of things but mostly to you and your siblings (if you’re not an only child). From the time you were conceived to your formative years and till you eventually came of age, they’ve been there for you with their blood, sweat, and tears.

Life is a cycle and as we have seen over and over again when time passes, the parents become the parented. What does this mean? This simply refers to the fact that as your parents grow older, you become the one who parents them to a significant extent.

A significant part of parenting them is planning for their exit out of this world. Now, we know that no one likes to think of losing their parents. The mere thought of it is quite uncomfortable, to say the least. But it is quite simply, an inevitable thing. As your parents grow older, the less independent they become. Therefore, it is your job to make their final plans for them. One of the main things to consider is the cost of their funeral and other final arrangements and one of the best ways to offset such bills is to take out life insurance for your parents. Seeing as both parents are most likely to pass at separate times, it may be wise to plan for them individually.

 

Factors that Influence Life Insurance for Parents.

There are certain factors that insurance companies take into consideration when reviewing applications for life insurance on behalf of the parents of an individual. Some of them include;

 

  1. Age; the age of your parents greatly influences the kind of life insurance policy agreement you’re able to acquire for your folks. If they’re octogenarians, the premium on such a policy may be slightly more expensive than that of a couple of parents who are in their sixties.

 

  1. Medical Status; your parents at their respective old ages are typically prone to a number of illnesses and diseases. Ailments such as heart/liver/kidney diseases, high blood pressure, diabetes, stroke, etc are also factors that can greatly affect premiums and the policy as a whole.

 

  1. Insurable Interest; this simply means being able to prove that you would incur a financial loss in the event of the death of one or both parents. When applying for life insurance for your parents, you can place yourself as the beneficiary and this is also why you would need to convince the insurance company of insurable interest.

 

In conclusion, the type of life insurance policy also matters. Whereas you can subscribe to either term life or permanent life insurance, you can also choose the “Money Appreciation Plan” courtesy; African Alliance. While term life is preferable if your parents a very advanced in age, permanent life is for parents who are relatively much younger in age (although this is more expensive).

Nonetheless, African Alliance would like you to take note of the “Money Appreciation Plan”. If the goal is to ensure that you’re covered as it concerns the expenses that will be incurred when making final arrangements for your parents, you might as well log unto a plan that gives you both insurance and investment benefits. The Money Appreciation Plan allows for a 30% payout and its better than your typical savings plan because the 30% of your guaranteed sum can be expected at each one-third of the duration. This plan gives you interest with a life insurance cover attached to it. Take care of your parents and do your very best, confident that African Alliance has your best interest at heart.

Article

The First Steps Matter: Life Insurance for Newly Weds

Posted on: 13th Jun 2019

There are a dozen and one thing that you would want to do as newly wedded couples but without mincing words, life insurance should be atop your priority list. When a man and a woman to decide to spend the rest of their lives together, it is usually one of the most life-changing decisions they would ever have to make in their entire lifetimes, as choosing a life partner is no small task. That being said, newlyweds must realize that their first steps matter and hence they must ensure to be very meticulous when making decisions early in marriage and this should include the subject of life insurance.

 

A Typical Itinerary for Newly Weds.

Some of the things newlyweds have to immediately concern themselves with include;

  1. Accommodation; both parties may need to change their accommodation and this can become necessary due to various reasons. In retaining or changing accommodation, a couple usually takes into consideration the proximity between residence and place of work/business of both spouses, their preference in capacity(number of rooms), style, location, neighborhood, etc.

 

  1. Mobility; depending on the financial strength of the couple, they may also decide to get an automobile for one or both parties. Nonetheless, couples who are fortunate to have one or more cars may also decide to change (upgrade) to a new car(s).

 

  1. Savings; a couple that saves together, can take on the world together. It is highly imperative that couples figure out a savings system or plan that works for them.

 

  1. Insurance; as a bachelor or spinster, you may or may not have acquired for yourself a life insurance plan to suit your single status. However, now that you are married, there will be a need to make changes to your life insurance policy but only if you have purchased one earlier (due to the major changes in your life). If neither spouse has one, then it just might be time to consider one.

 

Life Insurance for Newly Wedded Couples.

Taking a cue from the to-do list above, it is quite pertinent for newlyweds to invest in life insurance. While we understand that you plan to live an illustrious, fun-filled and “long”-life with your spouse, one cannot allow his or herself to completely put off the possibility of circumstances that may be otherwise inevitable. For this reason, newlyweds must endeavor to look into different life insurance plans.

The average man wants to provide for his family and it is in everyone’s best interest if he is able to make provisions for his newly wedded bride by purchasing life insurance. Of course, this goes both ways, and we would like to encourage men who have made it their mission in life to provide for their spouse by all means necessary. In this case, “all means necessary” has to include life insurance.

Amongst other life insurance plans like joint life insurance; which covers both couples under one policy, and others like term life insurance and so on, African Alliance has one that can you do you better and this is the “African Alliance Money Appreciation Plan”.

The Money Appreciation Plan is what we would like to refer to as the best of both worlds. As newlyweds, this plan helps you to save and get life insurance all at once. No need to save elsewhere and get insurance from some other place as the “Money Appreciation Plan” is structured to give you the benefits of growing interests whilst still being awarded a life cover. Amazing isn’t it?! Find out more by clicking here: Money Appreciation Plan

Article

The Challenges of Obtaining Life Insurance Much Later in Life

Posted on: 7th May 2019

It is always advisable to accomplish as much as you can early in life. The energy in your youth is very potent but sadly it will not last forever. Therefore, it is not at all surprising, that people tend to take advantage of their early years in order to make provisions for the future. As the popular saying goes; ‘’a stitch in time saves nine’’ and hence making conscious plans for when you eventually get old is the ideal thing to do.

One of such provisions many young people are advised to make is that of a life insurance plan. Your early twenties is unarguably the best time to take out a life insurance plan. As you grow older and your life begins to take different twists and turns, you can always adjust, edit or replace your insurance plan. This is for your benefit as it helps to avoid a lot of challenges.

Failure to obtain life insurance much earlier in life will definitely leave you with some challenges when trying to opt for one much later. A life lived is directly proportional to time. What this means is that life, especially as it pertains to life insurance is as a function of time.

Challenges such as;

  1. Age Limitations.

It is universally agreed that you are less likely to die at a young age and even though people still get deceased prematurely, the odds of you living for a far more reasonable amount of time are pretty high. The more time goes by, the more you age and the more you age, the weaker your bargaining power when trying to negotiate a befitting insurance plan. This is because when you are much older, the chances of passing are greatly increased and this becomes a challenge when trying to acquire life insurance.

 

  1. Health Limitations.

This is also technically linked to your age. The older you get the more you become prone to health issues and diseases which can lead to your demise. This can greatly affect your chances of getting a life insurance plan that you would consider satisfactory by your standards. Depending on the state of your health, you may not even qualify to get one. If you are plagued already by some type of damning terminal illness, insurance companies would naturally want to consider you ineligible to obtain life insurance.

 

  1. Sudden Death.

This has to be the number one challenge of getting life insurance much later in life and the reason is quite simple. If you die before you get a chance to take out a life insurance plan, there’d be nobody to take it for you. At the risk of sounding sinister but without the intention to do so, anybody can give up the ghost suddenly. Death is one of the most unpredictable phenomena in our human existence and that’s why we are literally and dangerously testing our fates when we postpone buying life insurance till much later.

These are obvious challenges that are capable of either rendering a person ineligible for life insurance or reducing the quality of their insurance cover. Whatever the case may be, the clear cut advice here is crystal – the best time to buy life insurance is when you’re young. Nonetheless, the next best time is now, while you’re still breathing.

 

Article

Why You Should Consider Insurance Before saying ‘’I do’’

Posted on: 20th Feb 2019

Love is a beautiful thing and it often creates an emotional attachment between two people. This emotion grows over time (sometimes taking longer for some and shorter for others) until they eventually reach a point in their lives where both parties have chosen to settle down. But before you do settle down, before one party pops the question and before the other says ‘’I do’’, there are certain things that need to be considered and insurance is one of them.

At this juncture, both partners realize that it is about time to make some adjustments and slight (sometimes major) changes to their individual lives. Compromise is the keyword that is often summoned in these situations. For example, when it comes to deciding where both parties would live, the couple would often put into consideration, the distance between their proposed residence and their place of work. However, one of the most important items to analyze before saying ‘’I do’ or asking someone to marry you, is insurance.

Any form of insurance including that of life insurance, are all up on the menu and need to be discussed. We would try to break down what you can do about your insurance before getting married and would also briefly state why it would be beneficial to you and your partner.

 

How to go about Your Insurance before Saying I Do.

So you may have one or a number of insurance policies, but it all boils down to how you can now merge, update or upgrade them to fit into your new situation.

Merging/Upgrading Insurance Policies.

Take for example things like car insurance which usually exists for the singular owner of the car. But now that you’re going to be a couple, you would need to update the list of drivers and have your partner included. This is so that you’re covered when he or she is handling the wheel and something happens.

Other kinds of insurance such as a cover or policy for personal belongings including cover for a house, will also need to be merged or upgraded as the case may be. In doing so, both parties have their personal belongings (or house etc) listed together with ownership belonging to the couples. This way they would’ve safely insured their properties as a couple.

Updating (Life) Insurance Policies.

First and foremost, as long as someone else is financially dependent on you (and this goes both ways), you need life insurance. However, your life insurance cover would need to be updated to accommodate your new lifestyle (being married).

As a single man or woman, the beneficiaries of your life insurance would typically have your parents and/or siblings listed as your next of kin (should something happen to you). As a single person, this is smart and quite thoughtful, nonetheless, now that you are about to get married or already engaged to do so, you will need to update your list of beneficiaries to either include your wife (or fiancée) or to make her sole beneficiary (pending when you have kids).

The last thing you want to do is to have your partner stranded. It is easy to forget or keep postponing such an important activity capable of saving you both a lot of trouble. Therefore, it is quite pertinent that this subject of discussion is one that comes up early enough as merging, upgrading or updating your insurance policies is not only essential but it also the smart thing to do.

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