Saturday 21st January, 2017
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Why more Nigerians need insurance policies - Okoror

Why more Nigerians need insurance policies - Okoror

The President, Profession­al Insurance Ladies As­sociation (PILA), Mrs. Justine Okoror on Thursday urged Nigerians to go for more insurance policies in 2017, de­spite the recession.
 
Okoror told the News Agency of Nigeria (NAN) in Lagos that payment of insurance premiums to secure life and properties had enormous advantages.
 
“Many think insurance busi­ness thrives on the economy and that it is a secondary issue.
 
“The first issue on the minds of citizens is survival before they consider protecting and provid­ing for tomorrow.
 
“Nigerians, however, need to change their perceptions when it comes to insurance.
 
“Insurance provides mitiga­tion against unexpected loss of life, property and things of val­ue.
 
“What is the advantage of sur­viving now and losing all what one possesses at the end?’’ she queried.
 
Okoror urged citizens to take appropriate insurance policies to tackle unforeseen losses.
 
According to her, there is not a more appropriate time to take insurance policies than in a re­cession.
 
She said,“In recession, there is limited cash in circulation; one can hardly invest or purchase properties.
 
“So then, why should one not secure what he or she has?’’
 
Okoror said that some indi­viduals, because of the harsh economic situation in the coun­try, may want to abandon com­prehensive insurance for third party insurance.
 
She decried such moves, say­ing that those individuals did not know the value of what they had.
 
The association president urged individuals who had comprehensive insurance not to abandon it for third party in­surance despite the economic climate in the country. (NAN)

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