An insured is the person that buys insurance policy from the insurance company . If you buy your policy from us ( which you should, because we are acting on your behalf ) then you are known as the Insured. Even if you choose to buy directly from insurance company , you are still known as the insured.
Almost everyone can enjoy the benefit of life insurance. It is the surest way to ensure that your survivors remain financially secure and protected. Life insurance serves several purposes:
It can provide mortgage protection -- ensuring that your family would not need to give up their home (if for instance , the family home is built with loan or mortgage from financial institutions).
It serves as replacement for income lost by a family salary earner.
An insurer is also known as insurance company. Often, insurers refer to themselves as underwriters.
An insurance premium is a certain amount of money you pay to the insurance company for you to receive protection. It is calculated as a certain percentage ( %) of the monetary value of your assets ( also known as the Sum Insured), or the limit of liability ( in case of Liability Policy). For example, if the value of the asset you want to insure is N1,000,000 (One Million Naira) and the premium rate is 1%, then your insurance premium is N10,000 ( Ten Thousand Naira only). So if you lose the asset completely , we will help you claim your N1,000,000 from the insurance company.
Within few minutes after we have confirmed your payment of insurance premium. Your certificate will be right in your email inbox and also appear in your Dashboard under "My Policies"
Immediately you have submitted the list and monetary values of assets you want to insure or protect, the appropriate insurance premium will be displayed and you can then click on the "make payment" button which will take you to the secured payment portal , still on our site, and there you will see payment options such as :card, ussd or transfer. Once you make your payment and we confirm its success, your insurance cover starts immediately .
An insurance policy is a contract between an insurance company and an individual or entity, where the insurance company agrees to provide financial protection against certain risks or losses in exchange for the payment of premiums. An insurance policy is a legal contract between an insurance company and an individual or entity ( company) , often referred to as the policyholder or insured. The policy outlines the terms and conditions of the insurance coverage provided by the insurance company. It establishes the rights and obligations of both parties involved.
An insurance policy usually comes with the policy document which typically includes details such as the types of risks or events covered, the duration of the coverage, the amount of coverage or benefits provided, any deductibles or excesses that may apply, and any specific conditions or exclusions.
