Mr Justice Peprah Agyei, Western Regional Area Manager of the National Insurance Commission (NIC) has urged the insuring public to factor insurance in their new year resolutions since it plays a central role in our financial wellbeing and helps to provide financial security for us and our families when it is needed most.
He noted that as people move through life, find a partner, raise a family, and maybe start a business, the importance of insurance in a long term plan increases in that insurance is all about providing a financial safety net that helps us to take care of ourself and loved ones when they need it the most.
According to him, our new year resolutions or goals hover around our spiritual life and physical life in particular, regarding the projects, schooling, marrying and travelling among others which cannot be achieved without money and the risks that come with it, hence the need to insure them.
Mr Agyei who was speaking with iGOGHANA in an interview mentioned personal and family protection, reduction of stress during difficult times, having peace of mind and enjoying financial security as some of the benefits of insurance for which reason one cannot utterly reject insurance.
“You need to learn the risks that go with each of the projects in your resolution to take the necessary insurance policy to insure against natural and man-caused accidents. You insure your car and your home. But nothing is more important than your life and your ability to make a living. So it makes good sense to insure your greatest asset – you”, he pointed out.
He argued that even though there have been bad perceptions about insurance in the past, however, the benefits of getting an insurance cover far outweighs many edifices since it will cushion you in the case of risks, adding that the cost of losing properties take time to recover hence, the need to transfer the risks by having insurance cover.
He indicated that family depended on financial support to enjoy a decent standard of living, which is why insurance was especially important once people start a family, and added that the people who matter most in our life may be protected from financial hardship if the unexpected happens.
According to him, “none of us knows what lies around the corner, unforeseen tragedies such as illness, injury or permanent disability, even death – can leave you and your family facing tremendous emotional stress, and even grief. With insurance in place, you or your family’s financial stress will be reduced, and you can focus on recovery and rebuilding your lives.”
He enumerated that no matter what your financial position is today, an unexpected event can see it all unravel very quickly, but, insurance will offer a payout so that if there is an unforeseen event you and your family can hopefully continue to move forward.
“No amount of money can replace your health and wellbeing – or the role you play in your family. But you can at least have peace of mind knowing that if anything happened to you, your family’s financial security is assisted by insurance”, Mr Agyei emphasized.