[BLOG] Thinking of insuring our lives and property
Our lives and the lives of our loved ones and properties are constantly exposed to hazards. You never know what is in store for you tomorrow. Insurance provides some cover to mitigate the effects of such hazards.
After all, isn't it better to prepare and prevent than to repair and repent? Insurance is a necessary precaution to protect you against a wide variety of unpredictable risks and considering the current state of affairs in Africa, it pays to be insured.
Insurance in South Africa will help you pay for damages caused by natural disasters, robberies, car accidents and a host of other threats to your financial wellbeing.
It is an unfortunate fact of life that the unexpected is inevitable. Comprehensive insurance is a good way to protect yourself and your loved ones against the tragedy of an unexpected robbery or car accident.
Admittedly, insurance can be expensive, especially in Africa. As such, you should take care to ensure that you do not over insure yourself. If you have too much insurance, you will never get the full benefit of your cover as it is unlikely that some of the events you are insured against will ever happen.
Only buy insurance according to what you need and do not let yourself be persuaded by slick salesmen into buying more insurance than you will ever use.
Some of the most vital insurances to consider are: life insurance, car insurance, home insurance and health insurance or a medical aid of some kind. Other insurances can generally be provided for by setting up trust funds or similar accounts in order to save money for those eventualities.
Am I making sense here?
Isaac Twumasi-Quantus is Webmaster, Editor @Africa Business Communities in Ghana.
This article was originally posted on Ghana Business Communities
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