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Chuks Udo Okonta
There can never be an over dose when it comes to educating the public on the workings of insurance as many people are still ignorant on how insurance works.
Consider this conversation between this writer and some beneficiaries of Insurfeel Initiative, a concept that is promoting insurance education and culture through donation of policies.
Before the conversation, the beneficiaries were told the benefits of the policies and even the policy documents sent to them to enable them read and understand how the policies work.
Conversation.
Insured: Hello Sir.
Writer: How are you doing?
Insured: I’m doing great!
Insured: Sir, I want to know when I will get the money stated on the policy document?
Writer: The accident policy donated to you, which provides for accident; personal liability; permanent disability and death, can only be activated when you suffer a loss from an accident.
Insured: Okay, I thought the money stated on the policy would be paid to me at the end of the policy.
Writer: Insurance payment which is called a claim, is not monetary donation, but meant to bring you back to the position you were before you suffer a loss. It is paid to help you recover from your loss.
Insured: Thanks for the enlightenment.
The lesson from this conversation is that the public needs continuous education on insurance just as people who go to churches and mosques for regular spiritual enlightenment.
All stakeholders in insurance value chain, specially practitioners should continuously devote robust budget for education and enlightenments.
Moreso, the act of Corporate Social Responsibility (CSR) initiative such as donating of insurance products, which is being promoted by Insurfeel Initiative, should be esteemed to enable the public , especially the uninsured and uninformed to have first-hand touch and feeling of insurance.
