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Chuks Udo Okonta
The only insurance policies some people have are those provided by their employers. These policies include: Group life; health insurance; workman compensation, amongst others.
These policies are enjoyed by people because their employers pay the premium. Those covered by these policies are quick to make claims even when they are not ready to buy other policies that would make them transfer their risks and enjoy good life.
Workers under health insurance cover provided by their employers, are quick to go to hospitals for any illness. Most of them don’t understand that the treatment they enjoy are claims paid on the premium made by their employers.
Family members of deceased workers are quick to make claims on group life cover on their beloved. They do these not caring how the claim came about.
Same are claims paid on accidents from work place, which is under workmen compensation policy.
Even when people access these claims, they still refraining buying their personal insurance cover, hiding under the perception that insurance companies don’t pay claims.
Why you need other insurance policies
* Coverage: Just as you enjoy continuous and convenient medical care from health insurance provided by your employer, same access would accrue to you when you buy personal insurance policies to secure your life, those of your family and properties.
* Claims: Though claims shouldn’t be the main purpose for buying insurance. But you enjoy claims whenever the unexpected happens.
* Wealth: It is always funny to see people looking forward to life insurance on their family members, without they themselves buying life insurance to enable other members of their family have wealth to depend on after their demise.
Insurance life remains one of the convenience means to transfer wealth as it does not require a will or letter of administration for beneficiaries to access claims.
* Savings: Insurance over the years has continued to assist people save for the future. Going beyond insurances provided by your employer would enable you amass fund for the future.
* Benefit from others: Insurance remains one of the means of benefiting from people you know and those you don’t know.
This is done through the fund pooling structure of insurance, which enable those who suffer risks to access help through the fund of those that didn’t suffer risks within the period.
Don’t just depend on insurance provided by your employer. Invest in your life through life insurance which enables you to save for the future and protect your properties and assets through general insurance.
As your employer pays premium to insure you and your family. You should also show responsibility by insuring those things of value to you.