The effect of insurance scheme

Greetings!

Insurance is one of the topics that was taught to us when we were in the secondary school in the Economics class and since then I have known insurance to be an assistant policy put together to help people in their businesses or personal lives when they are in trouble in their businesses or personal lives.

In those days, when we were being taught insurance and its policies plus the types, we were made to know about the insurance that covers businesses and that which covers life which covers life which is called life assurance.

All these are what insurance entails. Having talked about insurance and the little I know about it, I would like to delve into the topic of the prompt which is all about, “Insurance.”

Insurance is one policy that's very good not for business owners alone but for everyone and this because it helps to save people who are into it in the time of trouble.

Although there's money to be paid into the policy as there must be a sacrifice to be paid, one thing is that, when the time to reap it would come, it would be more than what one has invested into it.

Like I mentioned earlier that we have so many insurance policies which cover businesses and life, there's this one in my country that I forgot to mention and that one is the health insurance policy which was put in place by the government at all levels.

In Nigeria for instance, we have the NHIS, which is the National Health Insurance Scheme, a health insurance scheme from the federal government, this scheme is meant to cover for the medical bills of residents that have subscribed to the health insurance scheme of the federal government.

As a state worker in one of the states in the country, I'm also a beneficiary of the state health insurance scheme as well and there's this percentage of my salary to be deducted for everyone to have access to the scheme.

So, when talking about insurance schemes, it's something that's good for everyone and I personally don't see it as a waste of money, all I can see about it is investment that might be reaped at any time when there's a need for it.

Aside from this, everyone should try and key into an insurance scheme as there would always be an insurance scheme that would be at a range that we can afford, it's not necessarily a business insurance scheme or life assurance scheme that must be invested in, we can as well invest in the health insurance scheme like I have done and it's really paying off for me.

In conclusion, insurance schemes or policies are one of the policies that are of great benefit to everyone and to me, the advantages are far more than the disadvantages.

This is my entry to week 204, episode 03 of the weekly Featured contest in the Hive Learners community.

Thanks for reading.

Picture sourced from metaAi.