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The history of insurance in Nigeria started far back in the precolonial era. Insurance remains one of the most profitable and rapidly rising industries in Nigeria. Basically, it is a service that involves the exchange of risk for financial obligations called premiums. Insurance provides cover for individuals, businesses, and circumstances beyond your control. However, things […]

You sure must have come across the term permanent and term life insurance premium at one point or the other. But, there are chances you do not totally understand the concept. Well, that is not a problem. In fact, this is why we have written this article.  In this article, we will discuss explicitly all […]

Today in Nigeria, there are several HMOs. HMO stands for Health Maintenance Organization. Basically, HMOs are organizations that provide health insurance coverage to people on a monthly or annual basis. To provide enrollees with quality heath provisions, HMOs partner with a list of hospitals. These hospitals, they believe, will provide their client with quality services, […]

The importance of insurance has only grown since it entered the mainstream Nigerian market. Today, the government has enacted compulsory insurance into law, like health insurance for employees, and also vehicle insurance. Focusing on vehicle insurance, its compulsory nature has led to all forms of insurance agencies and agents taking advantage of the high demand […]

To start with, as an insured, when sick health insurance providers know that you will come to them with large claims. And in this situation, they know that they are going to make huge payouts. Therefore, to make this situation work in their favor they negotiate or make deals with hospitals. Once they do this […]

Life insurance is certainly one of the most important insurance you can ever purchase. Basically, it ensures your family is duly compensated financially, depending on your contract in your demise. However, life insurance has its intricacies and without the right information, you can end up spending way more than you could have. Therefore, in this […]

Vehicles are a handy item in today’s world, especially since they offer you all the comfort you’d ever need regarding transportation. However, things can easily go south, as there are a thousand and one things that could happen when you set off on your trip. From road accidents leading to minor scratch to a driver […]

With the rapid increase in the cost of health care, it is wise for every individual to get a health insurance policy. Health insurance helps you cover the cost supposing you have a medical emergency. Furthermore, it protects you from unexpected expenses. However, health insurance is usually proffered as one-year contracts and need a renewal […]

Running a business comes with several ups and downs that could really turn things sour if not taken care of. Therefore, you need to make the right decisions that are in the best interest of the business to protect it. One of the best protection you can provide for your business is insurance, ensuring that […]

Insurance is the transaction of exchanging money for risk transfer. When this transaction goes through, they compensate you should any damages come to your insured asset. Now, in a more professional statement; it means exchanging insurance premium for risk transfer. The money you pay to purchase insurance is called an insurance premium. In this article, […]