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So guys recently I attended a one week training in Insurance. Before now, I felt Insurance wasn't really working at all. •In Nigeria. Even the Third Party insurance was useless and mainly a formality to me until I got to meet trained facilitators.
This training made me realize how AMAZING Insurance is, it's a risk, paying little for something more and be rest assured, you got a cover. The funny thing is they don't make you better off, but they make you remain exactly how you were before any bad occurrence except Life assurance where you have to save just like the normal savings some of our mothers did or the piggy banks we had while growing up, (Kolo) who remembers this? !
Anyway you don't get to terminate your account, pay lesser but never go below five thousand Naira, till your duration ends. In some cases you get Partial withdrawal after 2years and a 5% interest rate. Super cool right? Lol. I like free money. The Duration ranges, 2 Years, 5 years and it goes further to 9 years.
Also, the third party insurance which is compulsory in the country, covers every expenses when you hit Or Vandalize a car, bike etc. but not your car expenses. lol when you hit a molue (Yellow Buses) in Lagos, hopefully they listen, educate them. They need this lol. they are always aggressive! If they don't, Just pay them off and call the insurance company and get a refund.
Most Nigerians don't know this. I didn't too. But really educate someone today, Nigerians throw abuses and curses at Insurance companies. Let's make them understand they are efficient and trustworthy if they Read their terms really well and agree to them.
Some Insurance services are below;
- Personal Pension and investment plan
- Individual savings and protection plan
- Children Education plan
- Micro Personal pension and investment plan
- Term Assurance
- Motor insurance
- Fire & Burglary and so on.
Someone you know might need any of these, so tell a family/ Friend to get insured.
Also Guys! Visit any insurance company soon and get a plan.
Thank you guys for reading, please leave your comments or questions below, ❤️