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Retirement Planning DO YOU WANT TO EARN SALARY FOR LIFE? The retirement party was as colourful as the celebrant’s career. For the retiring paediatrician, Dr. Sylvanus Ikechukwu, however, his mind was far from the back-slapping and wine-guzzling going on around him. He knew exactly what he wanted in retirement. Surely, he was not going to take up any job again having worked actively for the past 41 of his 69 years, sacrificing family and his youth for the Hippocratic Oath. Now that the children were already fathers and mothers themselves, he was determined to spend the rest of his life seeing the modern world with Anne, his devoted wife of 43 years. But the snag was choosing the right investment that will help fund that lifestyle without ado. “Happy retirement, Uncle.” Chidinma, his niece who worked as an Annuity Sales Manager at FBNInsurance, interrupted his soliloquy. A couple of you’re-now-a-biggirl, where-is-your-husband pleasantries later, Chidinma had introduced her company’s Guaranteed Lifetime Retirement Income plan to him. It was exactly what the venerable doctor needed: salary for life. Retiring soon or know someone who is? Be like Dr. Ikechukwu, choose FBNInsurance Guaranteed Lifetime Retirement Income plan. Call 01-9054810 16 • FBNI&YOU • www.fbninsurance.com
Fire Insurance ...continued from page 15 7. Credit and Debt During a recession, families must still pay the household bills, and try to get out of debt. Bankruptcy, judgments, and late payments can all hurt your credit score. Your credit history impacts credit card and loan interest rates, insurance rates, and even job opportunities, as some companies review applicants’ credit histories. Tips and Strategies: Families should prioritize expenses and pay bills in order of importance. Some bills can be paid late, but other bills must be paid on time in order to avoid foreclosure, eviction, or property repossession. Recessions can lead to a reduction in borrowing, and families may become more fiscally responsible following an economic downturn. Less debt and more responsibility can lead to smarter money management, and a stress-free financial life. 8. Determine Necessities Families must understand the difference between needs and wants during a recession. Families need a safe place to live, clothing, food, and access to affordable health care. As priorities shift for many families during an economic downturn, they can focus on the necessities, and learn more about their innate survival skills. Tips and Strategies: Learning how to prioritize expenses, adapting to a loss of critical income, and making lifestyle changes will be hard. Families can cope during this period of adjustment by relying on each other, becoming a true support network. Celebrate successes as a family, and acknowledge each other’s efforts to become solvent. Take control of the situation to reduce the negative impacts of the recession, and to set a good example for the rest of the family. In conclusion, the effects of a recession on families last a lot longer than the duration of a recession. Ultimately, almost everyone suffers during an economic downturn. Families can survive by adapting to a new lifestyle, working together, and making changes to improve their future. HERE’S A PIECE OF ADVICE FOR THIS SEASON No one knew how the fire started. But everyone saw it consume the neighbourhood in a conflagration that screamed devastation. By the time the fire was put out by a combined effort of halfempty fire extinguishers and the Fire Services, three houses and seven cars had been completely razed. The Johnsons were the worst hit. New in the neighbourhood, their home and two cars were burnt to ashes. For the family of five, it was a sordid reminder of the uncertainty of life as we know it. The Fire Fighters blamed the harmattan for the rapid spread of the fire. But Mr Akinniyi Johnson had no one else to blame but himself. He knew he should have had his property insured against Fire and Special Perils. He could still remember the exact words of the FBN General Insurance Financial Advisor who had tried to talk him into buying the policy: “You’ve got a very beautiful house Sir, let me put together a convenient policy for you to protect it against all eventualities. Life happens, you don’t want to be caught napping.” He wished he had heeded the advice… The Harmattan is almost here. Protect your properties from life’s uncertainties, take out an FBN General Fire and Special Perils policy today. Call 01-9054810 FBNI&YOU • www.fbninsurance.com • 17
Page 1 and 2: A Customer Interaction E-newsletter
Page 3 and 4: FROM THE EDITOR Greetings and a war
Page 5 and 6: GOODS-IN-TRANSIT: Protect your inve
Page 7 and 8: Lifestyle WILL INSURANCE EVER BE IN
Page 9 and 10: Safety Tips PROTECT YOUR HOME FROM
Page 11 and 12: sober: a man roughened on all sides
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Page 15: in different areas can significantl

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