By Chiamaka Ajeamo
The Association of Registered Insurance Agents of Nigeria (ARIAN) has urged Nigerians to leverage insurance products to indemnify themselves and their businesses especially now that risks keep emerging.
Speaking with Daily Sun in an interview in Lagos, the National Public Relations Officer, ARIAN, Malachy Maduako, said insurance is a viable tool that can help develop and improve the economy of any country as well as upgrade the life of its citizenry if adequately adopted.
Highlighting the benefits of insurance, Maduako noted that its benefits are numerous and it touches every sphere of human need, adding that insurance generally is a proactive instrument employed to mitigate unforeseen eventualities. “One profound benefit of insurance is managing cash flow uncertainty. Insurance provides payment for covered losses when they occur. Therefore, the uncertainty of paying for losses out-of-pocket is reduced significantly. Take for instance businesses that were affected by the #EndSARS riots, those who had insurance need not to start from the scratch to regain their businesses, they were restored to their position unlike those with no insurance policy who had to start from the scratch.
“There is also education insurance policies parents and individuals can take to secure the future of their children. Education today is not cheap so, purchasing education cover is a best legacy any parent can give their children.
“Insurance relieves stress and gives peace of mind to the insured because with the services of insurance, you can channel the worries of the tomorrow to particular products. This is just to mention few of advantages insurance provides,” Maduako said.