Nigerians have been charged to embrace insurance planning.
The Minister of Finance, Mrs Kemi Adeosun said this at the third National Conference organised by the National Association of Insurance and Pension Correspondents (NAIPCO) in Lagos, where she was represented by the Deputy Commissioner for Insurance, Finance and Admin, George Onaekhena.
She urged Nigerians to embrace insurance in order to uplift their financial status, as one of the means for poverty eradication.
According to her, “Every Nigerian buys one house hold item or the other at any time and you don’t enter the market and start making your purchases, you make enquiries before going to market, in like manner, in your life insurance decisions, you can take time to ask questions on the life insurance policy you want to buy, no body knows the day of his death so life insurance is critical, life insurance is foundation to every wise financial planning.”
She added that “People hardly tell members of the public when they get benefit from the sectors, citing instance of quantum of retirement benefits paid on monthly basis by Pension Fund Administrators (PFAs) to retirees and quantum of claims paid in a year by insurance firms.”
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