Making insurance work for us
IF YOU BELONG TO A GROUP or an association, encourage yourselves to have a Group Life Assurance policy. This will help you to handle the challenges associated with the passing of any member.
Do you know that the named beneficiary of any late member can receive as much as N3,000,000 for a premium of N20,000 paid by each member for a period of one year in an association with minimum of 20 members?
Compared to making contributions when the death of a member is announced, I think the insurance policy is better.
What do you think?
Have no fear about insurance. Let’s just say that a re
Insurance advisory Main advice:
ality check has revealed that many people are not comfortable with insurance, whether as customers (policyholders), employees, investors, policymakers or suppliers.
There is a palpable fear that you cannot trust insurance as the actors are unlikely to keep their promises.
The advice therefore are:
1. Conduct a quick due diligence before you agree or sign that contract;
2. When you’ve commenced the contract, focus on it without comparing it with others. No two insurers are the same, while some are looking for liquidity others are looking at profitability;
3. If you’ve insured with one company and renewed your policies for 5 straight years without reporting any claim, does not make the insurer a great company. Great insurance companies are known by the number of times they’ve met their obligations to their stakeholders;
4. When you’re faced with the unexpected situation of delayed payments by insurers, be patient. Delay doesn’t mean denial. However, if your claims are denied and you feel aggrieved, there exist complaints points at Nigeria Insurers Association (NIA) and National Insurance Commission (NAICOM) to provide redress and sometimes, you may win; and
5. If you have not had any thing to do with insurance, due to lack of knowledge or fear of the past, have a rethink and allow yourself to be engaged by the new crop of insurance business leaders and professionals who conduct their businesses based on global best practices.
Insurance has helped many people move from one life-stage to another. A noiseless helper!
This is our advice. Share if you wish but use/apply them in your environment today and let fear stop harassing your life.