LIFE INSURANCE POLICY PLAN
What is Insurance? What are the benefits of insurance? Have you ever considered insurance as a protection policy plan for yourself and your family? Well, at the end of this write-up you will be convinced that insurance is not a myth or an abhorrence to man.
The Japanese are the most insured in the world; while
South Africa is the most insured in Africa. Unfortunately, Ghana is no where found on the list.
Insurance is a contract between you (or a business) and an insurance company to help protect you and your loved ones from financial loss due to an unexpected event, like an accident, illness, natural disaster, or other unexpected circumstances.
Again, Insurance is a way to manage your risk. When you buy insurance, you purchase protection against unexpected financial losses. The insurance company pays you or someone you choose if something bad happens to you. If you have no insurance and an accident happens, you may be responsible for all related costs.
However, Insurance and Assurance are two commonly misused terms in insurance policy documents. While both terms describe the policy coverage, they have different meanings.
While insurance provides monetary compensation for a covered event, assurance provides financial support in a covered situation.
Benefits of insurance
These include the following:-
Financial security
Life insurance
Tax benefits
Risk sharing.
There are quite a number of insurance companies currently operating in Ghana.
The following are the top Life insurance companies in Ghana, today. These are:-
Entreprise Insurance
Star Insurance
SIC
Prudential Life Insurance
Prudential Life Insurance is number 4 out of 24 registered Life Insurance companies in Ghana.
Prudential Life Insurance was first called Prudential Assurance Company and was established in the UK in the year, 1848. The company paid compensation to the TITANIC accident Cruise Ship Victims in the year 1912.
It was registered in Ghana in 2014.
Prudential Life Insurance currently has 24 million clients, insured across the world and 500,000 more customers across Africa.
Prudential Life insurance helps to take the financial risk out of life’s big decisions. The company creates long-term value for its customers, its shareholders and the communities it serves.
The company's Individual Insurance Plans include:-
Ultimate Hospital cash back (either for individual or family).
Educational Support Plan
Another insurance policy plan is Ultimate Premier Farewell (Death) and Ultimate Classic Farewell
Last is the Prudent Life Plan, which provides cover till age, seventy years.
In conclusion, you will agree with me that insurance is rather an important part of our lifetime for security and protection and not a myth or something to be scared of.
LIFE INSURANCE POLICY PLAN
What is Insurance? What are the benefits of insurance? Have you ever considered insurance as a protection policy plan for yourself and your family? Well, at the end of this write-up you will be convinced that insurance is not a myth or an abhorrence to man.
The Japanese are the most insured in the world; while
South Africa is the most insured in Africa. Unfortunately, Ghana is no where found on the list.
Insurance is a contract between you (or a business) and an insurance company to help protect you and your loved ones from financial loss due to an unexpected event, like an accident, illness, natural disaster, or other unexpected circumstances.
Again, Insurance is a way to manage your risk. When you buy insurance, you purchase protection against unexpected financial losses. The insurance company pays you or someone you choose if something bad happens to you. If you have no insurance and an accident happens, you may be responsible for all related costs.
However, Insurance and Assurance are two commonly misused terms in insurance policy documents. While both terms describe the policy coverage, they have different meanings.
While insurance provides monetary compensation for a covered event, assurance provides financial support in a covered situation.
Benefits of insurance
These include the following:-
Financial security
Life insurance
Tax benefits
Risk sharing.
There are quite a number of insurance companies currently operating in Ghana.
The following are the top Life insurance companies in Ghana, today. These are:-
Entreprise Insurance
Star Insurance
SIC
Prudential Life Insurance
Prudential Life Insurance is number 4 out of 24 registered Life Insurance companies in Ghana.
Prudential Life Insurance was first called Prudential Assurance Company and was established in the UK in the year, 1848. The company paid compensation to the TITANIC accident Cruise Ship Victims in the year 1912.
It was registered in Ghana in 2014.
Prudential Life Insurance currently has 24 million clients, insured across the world and 500,000 more customers across Africa.
Prudential Life insurance helps to take the financial risk out of life’s big decisions. The company creates long-term value for its customers, its shareholders and the communities it serves.
The company's Individual Insurance Plans include:-
Ultimate Hospital cash back (either for individual or family).
Educational Support Plan
Another insurance policy plan is Ultimate Premier Farewell (Death) and Ultimate Classic Farewell
Last is the Prudent Life Plan, which provides cover till age, seventy years.
In conclusion, you will agree with me that insurance is rather an important part of our lifetime for security and protection and not a myth or something to be scared of.
