When Nigerians hear the term – Life Insurance, chances are that they will most likely roll their eyes or mutter curses under their breath for daring to bring up such a sensitive topic. The truth is you can’t blame them if all they have ever heard about life insurance are conversations related to death. No one is ever prepared to have that conversation. However, to truly understand the benefits of life insurance, you will need to eliminate the bias you have in your mind as you read this.
Life insurance is as good as making a plan towards your future – a financial plan. As an adult, you have responsibilities, there are bills to pay and savings to be made because no one ever wants to be caught off-guard in life’s unpredictable moments. In reality, getting life insurance is now as easy as ordering your preferred meals on your favourite food app but with a professional readily available to help you make the right decision.
With technology overtaking most financial institutions, it is now a decision you make after speaking to professionals called LifePlanners who assess your income, needs, lifestyle and preferences before creating a tailor-made policy just for you alone. But first, we’ll help you eliminate those doubts preventing you from adopting life insurance;
- Only Elderly People Need Life Insurance
This is one of the commonest lies young people tell themselves; however, the reality is that the earlier you take out a life insurance policy, the more benefits you stand to gain. Think about it this way, if your 20-year-old self has been saving N20,000 per month for 50 years and your 50-year-old mum has been saving N20,000 per month for 20 years, who stands to make the most benefits?
The reality is that the younger you are, the cheaper your life insurance premiums will be, offering you long-term financial security. It is a necessity for every person, irrespective of age.
- Only Wealthy People Can Afford Life Insurance
When you plan to take out insurance policies, the world has gone beyond a one-size-fits-all solution. With insurance companies like Enterprise Life Assurance offering digital channels like its AdvantageConnect App, anyone can request customized plans tailored to their available lifestyle, needs and budget.
With its geo-location technology, AdvantageConnect allows you to connect with a LifePlanner closest to you. Once you find a LifePlanner, you can text, call or meet with them in person to discuss a plan that is suitable for you. Then, you can start with a lower sum assured and then build up additional coverage as your income increases.
Apps like AdvantageConnect, available on iOS and Google Playstore, make it easier for you to adopt the right policy and fit it right into your lifestyle, with additional benefits. It is easy to connect to a LifePlanner on the AdvantageConnect app.
- Life Insurance is Only Useful For Funerals
One of the biggest life insurance lies we tell ourselves is that Life insurance is only useful for funeral costs. While that is also true, life insurance is broader than that – it is a risk management tool. You do not use a spare tyre only when your tyre bursts, sometimes, you swap it out when you need to pump it and there is no vulcaniser close by. It is the same for Life insurance.
If you were to live till age 90 and stop working at 60, how would you manage your expenses? Risk also concerns investments, and insurance helps you secure a financial future. For instance, Enterprise Life has offers that protect your income and family, ensure savings and cover education. These offers help you become financially independent during retirement.
With the availability of LifePlanners on the AdvantageConnect who can provide round-the-clock assistance on all your financial concerns, now is not the time to be ignorant especially when this service is offered at no extra cost. It is simply unwise to wait until the last possible moment to plan your best life.
