Lengo Savings Plan is an insurance product offered by Old Mutual Insurance, Kenya.
The plan allows investors to have short term and long term savings with affordable premiums.
Details of the plan are as follows.
Saving for tomorrow shouldn’t stop you from living today, choose the Lengo Savings Plan that gives you flexibility.
Lengo Savings Plan offers you:
- Access to your savings
- Affordable flexible premiums
- Security of your savings
- Life cover benefit
How does it work?
The investment is split into a Short Term Pocket and a Long Term Pocket. The Short Term Pocket enables you to access a portion of your savings when you need it and the Long Term Pocket enables you to achieve your savings objective.
Your savings in the Long Term Pocket are invested in the Old Mutual Smoothed Bonus Fund, and your savings in the Short Term Pocket are invested in the Old Mutual Money Market Fund.
What is the minimum investment per month?
The minimum investment per month is KES 3 000 for Lengo Executive Savings Plan or KES 7 000 for the Lengo Premier Savings Plan.
Who should invest?
This product is ideal for you if you are looking to:
- Save for a period longer than 10 years.
- Save for the long term, without access to the Longer Term Pocket funds during the term.
- Access the full savings (Short Term Pocket) if you need to.
- Have your own choice of investment funds.
Lengo Savings plan is a perfect investment product for individuals who don’t have strict financial management habits. It can help you save money you would otherwise squander.