12 November 2012

Liberia: 'Saving Gives You Dignity' - Says AICOL CEO - Outlines His Company's Policy

The Chief Executive Officer of the African Insurance Company of Liberia Mr. Collins SIaffa, has described saving as the best way out for low income earners to help build a sustainable future for their children.

Speaking to our reporter in Harbel, Mr. Siaffa said low income employees in the country should take advantage of saving which he indicated would help them prepare for their family a better and brighter future.

Mr. Collins further said that workers should not be carried away or be attracted by loan ideas that will not help them achieve their goals.

With his entity AICOL, Mr. Collins added that he was committed to building his company's vision and hope, and at the same time explained to employees across the country what insurance can do.

The AICOL boss furthered that though loans are good, acquiring them should be planned and its objectives must be met by those who are putting in for it.

He said many times workers take loans from banking institutions and insurance companies with no proper objective, and added "at the end the employees do not realize anything, something which the insurance executive has frowned on.

Speaking further, Mr. Collins stated that with the help of the Harbel Credit Union and the Firestone Agricultural Workers Union of Liberia (FAWUL) together they can educate workers how to take and manage their loans, safe money to build homes and properly plan their families.

"Loans have not made ordinary people rich, but instead increase their problems, saving is the best way out" Mr. Collins insinuated, and disclosed that with one's little income, saving could give the ordinary worker freedom, "with no saving it undermines your dignity."

The AICOL CEO cautioned employees across the country to take advantage of the education being provided by the insurance company in explaining its policies to workers across the country and noted "there were a lot of risks involved in taking material loans such as; motor bikes which he said are perishable loans and could not last or easily meet the objective of the ordinary employee."

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