Why do I need to buy an Insurance policy? What is the reason people buy insurance policies? What are the benefits of Insurance policies in Nigeria?
Truth is that many people conveniently ignore the ramifications of that it would mean if suddenly for some reason or the other, we were to die and leave loved ones behind. How would they cope?
Today, I want to offer you 10 solid reason why you need to purchase an insurance policy that will convince you and not confuse you as to why insurance is important for every individual and family in Nigeria.
Top 10 reasons to buy an Insurance policy in Nigeria
- It brings in a large cash infusion for the beneficiary in the event of the death of the person under the agreement.
- Having an Insurance policy can save a business if a key stakeholder dies.
- An Insurance cover can further supplement your retirement plan
- Because even though your work gives you Life Insurance, in the event that you lose that job for any reason, so goes that Life Insurance plan.
- You don’t want to die and leave your kids with only a few thousand Naira in your savings account or perhaps, current account. Buying an Insurance policy prevents this.
- To pay for car damage: In the event that all your careful driving techniques fail to save your fine fresh car from that mad Danfo driver, you get to smile regardless because you know you have a car insurance plan.
- Another very important reason you need insurance is to replace stolen vehicles. How would you begin to gather about N3 million-plus to buy another vehicle? If you had car insurance (provided you selected the “in the event of theft” option), getting a new car would be almost a walk in the park.
- Because you can’t predict the future, the need to buy an insurance policy becomes apparent. Let’s face it, you can’t predict what will happen to you in the next 1 minute, talk more of the rest of your life. Having an insurance policy gives you back the power to control your future and decide how things play out.
- Because it’s mandatory to buy certain types of insurance in some countries. Take Nigeria for example, Motor insurance is compulsory (as it turns out, the majority of us either don’t know or don’t care).
- Having insurance gives you peace of mind. Someone once told me we don’t know the value of having peace of mind until you don’t.
Now you know.
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