There are two certain things in this world that every living thing endure and its either you are alive or dead. Both comes with a cost but the most painful side i will say is the death cost then you have people that depends on you. Some say the only things that are certain in life is death and taxes and i wont agree less because imagine if you could pay a kind of tax that will ensure that when you eventually die, the people who depend on you will not be overwhelmingly disadvantaged by your passing. That is what insurance provide.
A life insurance programme offers to pay your named beneficiaries a sum of money upon your passing in exchange for periodic payments known as premiums. Because death is inevitable, having a life insurance policy is crucial to ensuring that your dependents are well taken care off after your passing. This is especially important in a country like Ghana where expensive funerals are expected of people.
There are several insurance companies in Ghana that offer life insurance policies. Even telecommunication companies offer life insurance these days. This means that the requirements for signing up for a life insurance policy are at the barest minimum these days. One just needs to provide personal details such as date of birth; the beneficiary; and the account number or other means through which the premiums will be deducted.
The kind of life insurance you should get depends on your age, occupation and the people depending on you. For example, as a young person, you can pick a scheme which names you the beneficiary for a passing of someone close to you such as a parent. Also, if you are in a dangerous occupation, then it is important that you pick a life insurance policy that will not only pay when you lose your life but also when you are injured in a way which prevents you from being able to carry out your duties.
Even though it is important that you waste no time in getting a life insurance policy, you should take your time to compare the insurance companies. You can easily request a quote at GhanaCompares.com. Having the information beforehand will lead you to make the right decision instead of being forced into a policy by the first insurance broker you meet. Always take your time before you sign.
The government of Ghana also offers life insurance. A bespoke version is the Fishermen’s Life Insurance policy which was launched in 2015 and is run in collaboration with a private insurer. But the major government life insurance scheme is through the Social Security and National Insurance Trust (SSNIT) which is available to all workers in the country but is mostly accessed by formal workers. SSNIT offers a pension scheme which includes a lump sum payment to named beneficiaries of the contributor when s/he passes before the age of 60.
Although having life insurance through the government is a good option to have, it is not a sufficient one. Because of the boom in the private insurance business, there are many options that can serve either as your main life insurance option or as a complement. With a good private life insurance scheme, you can avoid some of the hassles that SSNIT contributors and beneficiaries unfortunately have when they try to access their benefits.
Post Credit: bgvibes.com/www.ghanacompares.com