The Western Regional Manager of the National Insurance Commission (NIC) Justice Peprah Agyei, has given a detailed education on why life insurance is a must for everyone.
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According to him, life insurance policies and programmes are designed “based on risks or accidents that are likely to affect all of us or our properties at a point in our lives”. The Insurance expert noted, however, that two special circumstances may require people to purchase life insurance.
Speaking to Happy FM’s Don Prah on the ‘Epa Hoa Daben’ show, he shared that possible incident of accidents and a case of being a primary provider for your dependents may call for life insurance.
“Life insurance gives you a life opportunity to secure the future of your family in times of uncertainties. As a family man or one that other people depend on, it is imperative that your dependent receive some form financial support should there be an accident. This is why the life insurance policy has been designed to cater for your family’s needs after an unforeseen occurrence”.
Justice Peprah Agyei added that in the event there is no accident, it is a win-win situation as one may choose to use his or her contributions as investments.
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Life insurance is a contract between an insurer and a policyholder. A life insurance policy guarantees the insurer pays a sum of money to named beneficiaries when the insured policyholder dies, in exchange for the premiums paid by the policyholder during their lifetime.
In the months of August and September, Global Media Alliance Broadcasting Company (GMABC) is educating the public on Insurance and Financial Literacy through in-depth discussions with resource persons.
