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Life Insurance: What Clients Should Know

Though people are sceptical about the policy, it is necessary for all and sundry especially when it comes to death.

Life insurance is one of the insurance policies that clients hesitate to take especially when it has to do with death. Insuring someone for such a policy will be misinterpreted by many and it will not be an overstatement to say the insured person is wished dead which is not the case. It is said that all and sundry are faced with the possibility of one or more hazards that are part of life including accident and death. In order to be compensated when these happen, a life insurance policy is necessary. When it comes to insurance in general, most Cameroonians are feet-dragging because they have a poor opinion of insurance as a means of protecting their interest in the event of loss. Most people have tales of disappointments in the hands of insurance companies or insurers.  They actually believe insurance companies are simply out to make money rather than pay claims. It is thought that insurance companies are prompt to collect premiums but slow to settle claims made against them by the insured and beneficiaries who are less well informed of the mechanism of insurance.  According to an insurance broker, who works with Capital Insurance, Rodrigue Dimitri Tchankou Petnga, life insurance is necessary and important to families. “Though one does not pray for death, it is a reality of life that one should expect at any moment. It can be sudden through accident as well as can be through health issues”, he said. The insurance broker added that the stress of organising funeral is cut off since the insurance company pays all the expenses which is less than or equal to FCFA 1 million to the deceased family. The key to a smooth insurance claim payment is the thorough reading and understanding of the insurance contract. “If the contract is well read, understood and subscribed, there is no reason the insurance company will not pay claims. Reason why the insurance broker is there to assist the client at any stage and if at all the client is not satisfied with the treatment after the intervention of the insurance broker, the client is free to sue the insurance company.

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