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Chuks Udo Okonta
Insurance business is beyond just claims payment. Therefore, it is wrong to avoid buying insurance because of perception on claims settlement.
When you refrain from buying insurance, you are directly halting other important roles played by insurance operators.
For insurance companies to effectively undertake relevant roles in impacting lives and the economy, they need your contributions, which should come through buying of their policies.
Why you should not limit insurance to just claims.
* Corporate Social Responsibility
Insurance companies yearly devote millions of dollars on activities targeted at improving the living standard of mankind.
The funds expended on these activities come from sales of policies. This therefore implies that your premium serves more that paying claims.
* Return on investment
It is an irony when investors in insurance business refrain from buying policies and also complain when there is no return on investment.
Insurance business would thrive if all investors/ shareholders buy policies to mitigate their losses.
* Employment
