How to save money by sharing your good insurance experience

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Chuks Udo Okonta

The school alumni of Joe Osaro was burdened by regular financial contributions for burial of deceased members.

Having spent much on contributing for families of deceased members, Osaro, who had formerly worked in an insurance company, introduced life insurance policy to members of the association and the idea was welcomed and embraced.

The association reached reached out to a broker who helped arranged the policy for all members and that was how members started paying an annual premium and stopped contributions.

With the premium, families of deceased members were paid over N1 million death benefits by the insurance company.

The death benefits paid by the insurance company, stopped members of the association from contributions which was a huge burden on them.

Osaro’s insurance experience was what did the magic. Sharing his experiences, benefitted all the members as it helped them to save fund that would have be contributed for burials.

His experience, also helped retained many members and attracted others to the association having seen how the association supported families of deceased members with the insurance fund.

Benefits of sharing your insurance experience

* Savings

Sharing your insurance experience amongst friends; religious associations, alumni; community, family and more and encouraging them to embrace insurance would help you save funds that would have been used to assist them when they suffer a mishap.

* Large fund

Sharing your insurance experiences, would have way for people to enjoy large fund from insurance, which would have be difficult to raised individually.

* Convenience

Often times, it is always difficult to raise money from members of a group to support a noble course. But with insurance, the fund is raised easily through a single cheque.

* Unity

Raising required fund through insurance helps sustain bonds in groups and eliminates discrimination which often arise when members default in payments.

* Growth

The care extended to those who suffer loss, helps attract new members to a group, as new members also anticipate such cares.

Sharing your insurance experience remain one of the best means to contribute to society and by extension help yourself.

As the Bible says, ‘give and it shall be given unto you’ sharing your insurance experience, comes back to help you save funds for necessary projects.

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