Are Insurance Policies Worth It Today?

A while back, I had to get insured with the Social security and national insurance trust company in Ghana because I thought it was a good idea and my work sort of required that I did, but it wasn’t a mistake. That faithful day, I went to their office to ask about the procedures and everything and you’d be surprised to find out that the person I was directed to didn’t really explain things to me in details. All he wanted was for me to register and pay an amount of money that same day.

As an entrepreneur, I did think it was a good idea to get insured so I did register for and made payments. Same applied to my cofounders also. As you might probably, most entrepreneurs for their first few years prefer to channel all their profits back into the business. It’s more like working without pay for as long as you can so the company can stand on its feet. Then, we were only giving out some stipends once in a while from the company, not a definite pay.

With this money that was paired to the insurance company, we made a down payment for a couple of months. The months following came and honestly, the company needed money. We weren’t going to use the money we had to pay insurance for everyone and so we invested the money into the company. Next thing I know, I’m receiving calls from the company saying I’m owing them. For a minute, I got confused until I received an email. I told the person in charge that our company isn’t making any profit and here in Ghana most small business file for that which exempts them from paying taxes and all. After all this was said and done, I don’t understand why the man who called from the office decided to go on and call almost everyone in my family’s contact that I left there as reference in case of an emergency. Next morning, I received a call from my dad saying the insurance company says I’m owing. For a second I laughed because it’s my money, so how am I owing them. That was really unprofessional and that’s the last they heard of me.

Getting insured as an individual in a world of the unknown is one of the best decisions you can make in your life. Because as much as it would take a bit out of your monthly budget, in case of any incident, you have somewhere to look because you are insured. Anytime I travel I make sure to get insured. I mean, nothing bad has ever really happened and sometimes it feels like I’ve been scammed but then again, life is a risk and it’s either you’re in or out. I really like the idea of getting insured, whether it’s your car, your house or even your life because things happen and your life changes in a twinkle of an eye. What might look like a small mistake can have lasting impact on your life forever and most of the time, these insurance companies do come through for us.

I’ve heard of cases where such insurance companies try to dupe get customers because I believe that’s the grand scheme so the trick is to know what you’re getting into. Know what you want, read more , learn and understand everything before taking the step. That way , you know how to defend yourself in any situation. Going forward, I plan to get insured and probably in insure most of my assets because life can be unpredictable, but I would make sure to not get cheated at the end of the day.

---

all images belong to me.

---