A. Insurance is a risk transfer mechanism whereby individuals or organizations can, by paying premium, transfer their various risks e.g., untimely death, sickness, accident, fire outbreak, burglary or inability to pay back loan amount borrowed.
A. Insurance is a risk transfer mechanism whereby individuals or organizations can, by paying premium, transfer their various risks e.g., untimely death, sickness, accident, fire outbreak, burglary or inability to pay back loan amount borrowed.
No. Insurance can only mitigate the effects of untimely death, sickness, or fire damage by payment of compensations to the beneficiary, victim of accident or indemnify the customer to continue in business.
Some Insurance Companies in Nigeria are living up to expectation.
But Microinsurance is a new concept designed to work like those Insurance companies in abroad.
Microinsurance model guarantees simple, clear and few policy terms and conditions.
Claims documentation is made easy with actual payment done within 28 hours.
Conventional Insurance companies are designed to handle high class and complex risks for rich and other members of the society.
Microinsurance is designed to insure simple and less complex risks for low-income individuals and businesses.
There are no delays in claim settlement process because claims requirements are simple. Unlike conventional Insurance,
Microinsurance products are designed to be simple, understandable, affordable valuable and effective.
i. Where there is Life Insurance in place before the unexpected happens, the family of the deceased
will depend on the Insurance proceed to cousin the immediate financial impact of such sudden loss.
ii. The Bible says in the Book of Proverbs 13:22, that “A good man should leave inheritance to his
children and children’s children”. The best way to achieve this is by having Life Insurance Policy.
iii. Life Insurance is a veritable way of subjecting oneself to compulsory savings in order to raise a
capital for future investment and etc. when the insured survives the term.
Send an email to info@mycreditstar.com or call 09087966325, 09087966327 or
visit our office at 120 Ikotun-Egbe Road, Lagos State.
You can click the link below to complete the claim request Click Here
A. Many people prayed and covered themselves with the blood of Jesus before leaving their homes or travelled.
But some still could not returned home—they found themselves in the hospitals or mortuaries.
‘It is God that shows mercy”. Insurance doesn’t prevent or allow misfortune to happen to people, rather
it exists to provide succor to reduce the immediate or long-term financial effect of loss—whenever it occurs.
Your claim is valid when your policy is still in force when the loss occurs.
With the banks you need a lump sum to earn significant interest and, withdrawals are at will. But Insurance Companies pay the agreed lump sum amount immediately the insured event happens, regardless of the amount you have saved, without waiting to the end of the contract.