By Henry Uche
The fear of what happens in the future is the beginning (and in most cases) the cause of high profile corrupt practices like financial embezzlement and resource squandering.
But with a prudent financial planning and purchase of different kinds of insurance policies, one can face the vicissitudes of life. This was the consensus of insurance experts during a webinar put together by Coronation Life Assurance Ltd, yesterday.
With “Protecting Against The Unexpected: How Confident Are You About The Future as the theme,” the keynote speaker, Mr. Chris Saigbe, Director, Life Operations at Africa Re, said given the economic situation in Nigeria today and speculations about the future, it’s better Nigerians secure their future with insurance products.
“Life insurance should be a top priority for every financial plan. You don’t fear the future you prepared for, when you plan your future, you are not afraid what comes your way” he maintained.
Similarly, the Registrar/CEO of Chartered Insurance Institute of Nigeria (CIIN), Abimbola Tiamiyu, urged every adult to consider the future of their dependents and make informed financial decisions. “Things may go south, what can you do? It’s ideal to plan for the future through insurance and financial planning, it would help you maintain your standard of living when the inevitable happens” she advised.
For the Head of Underwriting at Coronation Insurance, Kenneth Essu, payment of claims to policyholders or their beneficiaries is one thing the company considers indispensable, however, policyholders must strive to understand the Terms and Conditions (T&Cs). “Terms and Conditions are not written in tiny fonts but boldly spelt out, so after a painstaking check when the incident insured happens, we make payments swiftly to policyholders’ beneficiaries” he assured.
Also contributing, the Head of Customer Experience of the Coronation Life Assurance Company, Mr George Odumuko, affirmed that in a time like this in Nigeria’s history, it behooves on the people to face their future with confidences. (though the future may appear bleak given the economic uncertainties), one can immunise and protect oneself with requisite and effective strategies to navigate the unforeseen circumstances with confidence. “In a time like this, let us secure a future built on resilience and foresight, financial planning and appropriate insurance covers can do this,” he posited.