Monthly Archives: March 2019

Students and householders received greater appreciation for how they can conserve on water, with the installation of water saving devices and practicing water-saving measures at home, from the Water Tech-Fest exhibition, which was mounted by the Water Project Jamaica.
The Tech-Fest was held at JN Bank’s Half-Way-Tree branch, in observation of World Water Day on March 22, under the theme “Leaving No One behind.”
“It was an informative exhibition. I learned how to conserve water at home and at school,” said Jhardine Daley, a student from Ardenne High School, who viewed the exhibition with his teachers and peers.
Jane Dennis, a JN Member, found the exhibition very interesting, especially the display mounted by AquaFlow, which demonstrated how customized water bottles and kegs, which were converted with spouts, would come in handy during water shortage and lock offs.
“The displays were very interesting. I learned how to conserve water and to detect leaks at home. The conversion of kegs with spouts was also useful,” she said. “The Scientific Research Council’s (SRC) display was very applicable, as they gave me ideas about how to get my products checked at the SRC. I have a cosmetic business, and have developed my own line of products,” Miss Dennis related.
Please include a brief mention of the offerings on display from the others.
The exhibitors at the Tech Fest included: Instant Save, JN Small Business Loan, Isratech, SRC and Aqua Flow Products and Services.

Onyka Barrett Scott, general manager of JN Foundation, administrator of the Water Project Jamaica, said that the main objective of the exhibition was to sensitize members of the public and encourage them to play a proactive role in being “water smart.”

“This project helps us to see simple and practical things we can do on a daily basis, to reduce the amount of water we use in our homes; and if we can do that, then we will manage the resource better. Hence, the aim of the exhibition was to give patrons the opportunity to test various devices they can use in their homes or businesses and to help them become familiar with some of the suppliers in the space,” she said.
The Water Project Jamaica, which commenced in March 2017, is a four-year collaboration between the JN Foundation, JN Bank, the Inter-American Development Bank, the Climate Investment Funds and the Pilot Programme for Climate Resilience.
The project was designed to address water management issues primarily related to climate change.
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Contact:  Dionne Rose l JN Corporate Communications

In line with the United Nations (UN) theme for World Water Day, “Leaving No One Behind,” the JN Water Project will host a “Water Tech-Fest” on March 22 at the JN Bank Half-Way-Tree in its parking lot.
Onyka Barrett Scott, general manager of the JN Foundation, administrator of the JN Water Project, said that the event will be held to mark World Water Day, which is observed on March 22 by the UN; and, to assist Jamaicans to adapt to climate change, by implementing measures to achieve more efficient and cost saving use of water.
“Billions of people across the world are living without safe water. While Jamaica is blessed with an abundance of water, we want to send the message of enhancing climate resilience, through the use of water adaptation technology in the housing sector; and the need for us to practice water efficiency in our homes,” Mrs. Barrett Scott said.
She stated that the event will showcase water adaptation devices, which will be displayed on site by various suppliers in the industry.
“There will be interactive activities, such as: how to read your water bill; how to detect leaks in your toilets; and most important, how to fit water-saving devices onto your pipes, at home,” the JN Foundation general manager outlined.

She further explained that, the event, to commence at 10:00 a.m., will include presentations from key stakeholders, games and giveaways. It is an open event, and members of the public are invited.

Some of the exhibitors on the day will include: Instant Save, JN Small Business Loan and Aqua Flow Products and Services Limited.

In March 2017 the Inter America Development Bank (IADB) and The Jamaica National Group signed two cooperative agreements to provide JN Bank and the JN Foundation with funding to execute a four-year project entitled: “Financing Water Adaptation in Jamaica’s New Urban Housing,” or the JN Water Project.
The main objectives of the project are to facilitate the uptake of water adaptation measures in housing across Jamaica, including: the use of rain water harvesting systems, water efficient taps and showers, low-flush toilets, efficient irrigation systems, grey water recycling facilities, and other relevant water efficiency measures.
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Contact:  Dionne Rose l JN Corporate Communications

BUILDING a strong financial foundation in your 20s begins with having the right tools. A budget is one of those tools, especially if you’re focused on building an emergency fund, saving for retirement or paying off debt. Life insurance is another tool you may want to add to your financial toolbox.
Does life insurance for young adults make sense?

“That’s a question I receive from young people all the time,” says financial advisor Rose Miller.

“In fact, most people in their 20s, and even 30s, will tell you that they believe they are much too young to purchase life insurance. However, that’s actually the best time to purchase it,” she advises.

Miller is grants manager at JN Foundation and head of the JN BeWi$e financial empowerment programme.

She says there are many good reasons to buy life insurance in your 20s.

“If you’re in your 20s and just left university, chances are you’re single and child-less. However, like most people, getting married and starting a family are among your life goals.

“You may decide to settle down in your 30s, or later, and at that point, the need for life insurance may become clearer. The downside, however, is that when you wait to buy, the premium will be higher and oftentimes you may have to settle for lower coverage. This is because generally, life insurance for young adults is less expensive and the premium increases as one gets older,” Miller explains.

BENEFITS OF LIFE INSURANCE

Life insurance can cover many financial needs, including replacing lost income for your loved ones, such as a spouse or children who depended on your pay cheque to cover their day-to-day expenses. Proceeds from an insurance policy could bridge the gap for a period of time.

In addition to replacing lost income, life insurance can also be used to pay off any debt owed by your estate.

“Life insurance will reduce the stress of paying for funeral or burial costs, or any other final expenses. The average cost of a funeral in Jamaica is about $500,000. Even a small life insurance policy could be a good investment if you don’t want to saddle your loved ones with those costs,” says Miller.

TIPS FOR BUYING LIFE INSURANCE

Life insurance for young adults isn’t “one-size-fits-all”, and therefore, if you’re ready to buy, it helps to do your homework beforehand.

First, think about how much coverage you’ll need. If you’re unable to afford that level of coverage simply begin with what your budget will allow. As soon as you are able to, increase coverage by taking out new policies, or where applicable, take advantage of annual offers to increase coverage on existing policies.

Next, research your options. There are several types of policies available. For a young adult, finding a policy with an investment portion is a meaningful way to secure coverage, while at the same time, create wealth for later years. Compare the policies being offered and the premiums to find the policy which best suits your needs. Time is on your side, after all. While you may recognise the need for life insurance in your 20s, you don’t want to rush into making a decision without first getting an understanding of the facts and the varying benefits each type offers. Once you have a basic knowledge about the concept, purpose, and value of insurance, speak with an insurance advisor.

“Insurance is a valuable tool in the financial security tool kit. Use it to create, preserve and transfer wealth,” Miller advises.

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