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Frequently Asked Questions

• WHAT IS INSURANCE

This is a system or process by which one party refers to as the insurer  agrees to indemnify the other party called the insured in the event of any financial or material  loss after due payment of a consideration called premium.

• WHAT CAN BE INSURED?

We can insure anything that has insurable  risk. Such risk must possess certain characteristic:

a.       Financial Measurement

b.      Large number of similar exposure E.g. Motor Insurance

c.       Insurable Interest must exist

d.      The loss must be fortuitous

e.       Premium must be reasonable

The following risk an  be insured: Motor, Hull and Cargo, Life, Building, Machine, Glass  e.t.c.

• HOW DO I PAY FOR POLICY OBTAINED?

It can be yearly, quarterly or monthly.

• HOW MUCH WILL I PAY?

Whatever you can afford, bearing in mind the ash value.

• HOW LONG BEFORE A CLAIM IS PAID:

A claim is settled or paid as soon as the investigation is completed for a genuine claim.  

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