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Chuks Udo Okonta
The wrong belief that insurance companies don’t pay claims has caused great harm to many people.
These people, who have never buy an insurance policy, only join the bandwagon of people proclaiming what they have never experienced.
Due to the wrong belief, they hold on to their risks and whenever there is crisis, they pay heavily without any support.
As the word goes, ‘experience is the best teach’. Therefore, never stay away from insurance, which is one of the best risk management tools, because you heard people say what they have never experienced.
Dangers of wrong belief on insurance
* Financial loss
Insurance helps in mitigating risks, hence, helps policyholders to save funds. Lack of insurance would amount to bearing personal risks without a support and this impacts personal savings negatively.
* Lack of security
Insurance provides all round security, therefore, those without an insurance cover are vulnerable to all forms of risks and mishaps.
* Debts
As insurance helps to restore the insured to the state he or she was before a risk occured. Those without insurance, have to source for funds to rebound and this may result to debts.
* Lack of quality care
Insurance policies such as healthcare cover, enables policyholders to enjoy quality care, which they wouldn’t have been able to afford.
* Loss of assets
Assets not insured may be lost, when the owner is unable to replace it. Insurance remains the best means to secure precious assets.
* Legal liability
Inability to settle damages caused to another person, may result to litigations. With insurance, third party liabilities are settled with ease.
* Insecure family
Life insurance remains one of the ways to bequeath wealth and financial security to family members. Those without life insurance for their families may leave them in a financial troubles.
* Poor retirement
Insurance helps in saving for the future – old age. Those without robust finance, would restore to depending on people at old age.
With insurance, a good retirement life can be planned and achieved.
Yearly, insurance companies pay claims running into billions of dollars to those who believed in insurance. Don’t allow unconfirmed assertion rob you of the enormous benefits others are enjoying, embrace insurance today, for insurers pay claims.
