Ghanaians urged to patronise life financial insurance plans

By Abdulai Haruna, GNA

Accra, Aug.14,
GNA – Ghanaians have been urged to subscribe to life insurance policies and
initiate strong financial plans to secure themselves for unforeseen future
challenges.

Rev Dr Nanayaa
Owusu-Prempeh, Executive Director of Spirit Soul and Body Workshop (SSBW), who
made the call, said people should begin to consider purchasing life insurance
to secure the future for themselves and their love ones.

Dr.
Owusu-Prempeh was speaking at the monthly SSBW programme dubbed “Income
streams: which is mine?” to educate and inform participants and the public
about the need for individuals to secure their future with life insurance
policies and strong financial plans.

The SSWB is a
programme that is organised monthly to educate people on issues that affect
everyone and changing the lives of people in the society. The programme aims at
empowering people to bring the best out of their lives for the good of society.

She stated that
income was not forever guaranteed, adding that many families might face
problems should their breadwinners die without a term insurance.

“Many
people are driving without auto-insurance; people are living without life
insurance. People have property and don’t insure them which is risky,” she
said.

Mrs
Owusu-Prempeh said life insurance was for everybody especially the less
privileged in the society.

She further
stressed on the need for people especially the poor to have better financial
plans to secure their futures.

“The
people who must save are even the people who don’t have. The fact that you
don’t have is the more reason you should save money,” she said.

Mr Emmanuel
Bugyei, Senior Executive Officer of First Insurance, advised against the concentration
in the ‘cash value type insurance’ saying that although it looked attractive it
did not help.

He said the
‘cash value insurance’ was one that combined savings and insurance and the
‘term insurance’ was the best kind of insurance that could take care of a
registered member’s family should an unfortunate thing like death occur.

He said life
insurance was meant for the continuity of the lives of people, whose family
depended on him, adding that life insurance was about income protection. 

Mr Charles
Mensah, the Managing Director of Trust Consult Limited, also urged Ghanaians to
cultivate the habit of having multiple sources of income,

He said most
Ghanaians lived from pay-cheque to pay-cheque, thus solely dependent on monthly
salaries and wages, which he said was dangerous to the survival of the people.

Mr Mensah said
people should take advantage of the opportunities that were around the
communities, adding that it would uplift the financial fortunes of Ghanaians
and secure their futures.

GNA

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