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Child support

Any business is integrated into society, but life insurance still depends on the well-being and high social development of this society. Therefore, life insurers invest their efforts and resources in the education and development of children, in children's charitable projects. We will tell you what Nomad Life, Halyk Life and Freedom Finance Life are doing in this regard.
Child support

A responsible operation of any organization is becoming a standard of behavior and part of the business operation ethics today. Parents often do not have enough time to teach their child how to handle money, which leads to bad financial habits in him: living beyond his means, not knowing money relations in society and simple economic processes.

Therefore, it is so important that the state and financial organizations take an active part in various educational programs. For example, Halyk Life officers began to actively conduct live broadcasts on the Instagram for everyone on topics related to clarifying insurance conditions on various insurance products and insurance agreement conclusion processes last year. “Given the experience gained in conducting such broadcasts, our employees are invited to live broadcasts conducted as part of the Fingramota state project as experts. In addition, at the special invitation of the University, the Deputy Director of the Actuarial Department held a seminar for students of the UIB Faculty of Finance on the topic “How is the cost of an insurance policy calculated? What factors affect the cost calculation?” And there are a lot of such examples, the company allocates a lot of resources to improve the financial literacy of the population and actively supports charity events,” shares Zhanar Zhubaniyazova, the Board Chairman of Halyk Life.

Nomad Life employees also spoke about the features of retirement annuity and benefits of endowment life insurance as part of the Fingramota project on Instagram live. “The majority of Instagram users are young people who are under 40 years old. This group knows a little about life insurance, and one of our company’s priorities is education and community development. Therefore, we use various channels of communication with young people, adolescents and children. By the way, children are the easiest to perceive information and respond to it,” says Aida Kamysova, the Board Chairman of LIC Nomad Life.

In order to improve people’s financial literacy, Freedom Finance Life with the support of the Agency of the Republic of Kazakhstan for regulation and development of the financial market, launched free children's copyright classes on financial literacy Freedom Finance Camp in 2019. “We conduct them in Kazakhstani schools during the academic year, and in children's camps and centers for additional education and development - in the summer. We prepare lectures for each cohort and talk about what finance is, how to earn, save and spend it correctly. The main goal of our project on financial literacy for children is to help the younger generation determine their goals and rationally use resources to achieve them,” explains Azamat Yerdessov, the Chairman of the Board of LIC Freedom Finance Life.

For the future sake

During the period of activities, the Nomad Life employees organized many projects for children, including themed exhibitions with the Central State Museum of the Republic of Kazakhstan, the Republican competition for young performers on dombra and kobyz “Koshpendiler auyeni” and children's events dedicated to Children's Day. Besides, the company's employees, at their own expense, buy New Year's gifts for children with disabilities. “Involving employees in solving a social problem develops the ability to share, and not only money, but also skills, and promotes team cohesion. Participation in such projects shows that we care. We are open to people and society,” comments Aida Kamysova.

Halyk Life supported 9th grade students of Nazarbayev Intellectual School in holding an online marathon “Happy Family/Successful Country” in Taraz last year. “One of our company’s missions is to care for the well-being of the nation and the younger generation. Last year, our company supported the National Team of Kazakhstan, which was taking part in the World Judo Championship among athletes with hearing impairments. The company supports the Eldani Charitable Foundation, which, in turn, helps children with disabilities lead an active lifestyle and become full members of society. In general, the position of JSC Halyk-Life is to be always active and help the population of our country in every possible way, including improving financial literacy,” Zhanar Zhubaniyazova assured.

In a black moment

This year, after the tragic events in January, the management of Nomad Life decided to provide material assistance to the families of the fallen police and military personnel. The company received 16 applications from widows and mothers of the victims. There are 15 minors reported. After the riots Freedom Finance Life also launched the “Freedom Support” special program, voluntary immediate annuity insurance. Having concluded an agreement under this program with the wives of the dead security officials, the company pays 200,000 tenge monthly in favor of their children. “The payments will be made until the children reach the age of 18. The amount of all payments will be over 400 million tenge approximately. Among those to whom the company makes regular payments are mothers with newborns. The youngest at the time of the agreement conclusion was three months old. Upon his reaching the age of 18, the amount that Freedom Finance Life pays for the entire period of the contract, will be about 42.6 million tenge,” concluded Azamat Yerdessov.

The social accountability of life insurance companies demonstrates the stability and reliability of the entire market. Such activities contribute to the development of trusting relationships with customers and society as a whole.

Photos are from open sources.

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