Insurfeel: Why donating insurance policy is cheaper than contributing money when risk occurs

From left: National Chairman, AIICO Fieldforce/Senior Agency Manager AIICO Insurance Plc Uche Anyanwu; beneficiary, Mrs. Oloruntoyin Risikat and Promoter Insurfeel Initiative Chuks Udo Okonta at the event.

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Chuks Udo Okonta

The prevailing economic situation has indeed forced organisations and individuals to focused more on cost reductions, and one of the best tools to ensure effective cost cut is insurance. This therefore, supports our assertion that it is cheaper to donate insurance than contribute money for people when they suffer mishaps.

What many people don’t understand is that there are many cheap insurance products that could be leveraged to help family and friends mitigate risks, thereby cutting personal spending.

Imagine donating a N2,500 uni-personal accident per annum cover to family members and friends, which
provide cover of N50,000 medical expenses; N300,000 for permanent disability; N300,00 for death and N200,000 for personal liability.

Or N8,000 per annum uni-personal cover with benefits such as; N200,000 medical expenses; N850,000 for permanent disability; N850,000 for death and N500,000 for personal liability.

Moreso, to cut financial contributions during burialof loved one, you can donate N15,000 worth of life cover to enable the family claim N1 million benefits.

Even N15,000 per annum health insurance donation can give a family member an access to a year standard healthcare.

Benefits of insurance donation

*Cheap premium big coverage

One of the benefits of insurance is the small premium big coverage concept. As you donate insurance covers, you spend less to offer beneficiaries big coverage and benefits. Imagine using N15,000 to claim N1 million death benefit on a life insurance policy.

*Risks transfer

Donating insurance policy would enable you transfer your risks and those of the beneficiaries to insurance companies.

*Large scale

With insurance donation, you can reach out to many people, as against solving their problems directly with your money.

*Social responsibility

With donation of insurance policies you can effectively impact your society, extending help to all asundry.


Donation of insurance covers would enable you act promptly, compared to when paying directly. Many people have made financial pledges that they could not fulfilled, but insurance companies must pay as long the claim is genuine.

*Financial education

Donating insurance policies is one way of teaching people about financial education, as they would want to embrace same practice having seen the benefits from insurance.

Insurfeel Initiative

Having understand the benefits of insurance policy donation, we call on you to partner Insurfeel Initiative, the only organisation as at the moment championing the donation of insurance, with the aim of helping humanity and growing insurance business.

You can reach us via: 08054269557, 07033253527 call/WhatsApp and

Better still, donations can be made through; Inspenonline Limited UBA 1021916451.

Thanks nicely as we make the world a better place by mitigating risks and reducing poverty.

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