Are you Insured

Every man wants to make good in life and probably live long to enjoy all that life has to offer, but it is rather painful that life happens.

Even at better climes where medical sciences have helped to improve the life expectancy of the people to an appreciable degree, fate till plays final arbiter.

But the irony however is that this uncertainty over man’s fatality I probably what an industry like the insurance companies worldwide, is the effective management of life assurance fund as investment strategy during economic recession.

Life insurance is necessary, it is important for human. Life insurance is a contract between an insured and insurer, where the insurer promises to pay a designated beneficiary a sum of money in exchange for a premium, upon death of the insured person depending on the contract, other events such as terminal illness or critical illness may also trigger payment.

In today’s business world, international experience has become critically important. Global trends have had an impact on the processes and outcomes of business fortunes even in developing countries and have caused industrial relation actors to think differently about their goals.

The current global economic crises has been interpreted in many ways, chief of which is that it signals the end of capitalism or free market economic doctrines.

Insurance is one of the most successful service industries that any string economies of the world used to achieve their spectacular development and greatness. By affording protection to life and property it bring security of person and property with accompanying peace of mind which promotes and encourages adventure and entrepreneurship.

The insurance sector has come long way across the globe. The number of insurance institutions has risen quickly.

Problems

Mismanagement of life assurance premium which lead to liquidation,

Inability to invest life assurance funds in varieties of security due to lack of experts

Ineffective investment management of life assuarance which affect expectations of the insuring public and the growth of the industry

incessant global economic recession : Covid

Myths about insurance

It's not for young people: life expectancy is dwindling daily you are doing your partner and family members good even you adopt a plan early.

Scam: some people believe that insurance companies aren't to be trusted. Why I may be agree that they might be some but you will agree with me there are reputable companies who has stood the test of time.

Do let me know your thoughts?