WHY YOU SHOULD CONSIDER THE RISK ON YOUR ASSETS
You’ll surely be up for disappointment if you’re reading this blog post with the hope of seeing points bulleted as regards the topic. Well, I have something better for you. This is just a short story curated from the book The Smart Money Tribe written by the Nigerian author, Arese Ugwu. I wouldn’t be entirely quoting the author, I’ll just be referencing a portion of the book as a tale for us all to learn from.
If you are conversant with Arese’s first book The Smart Money woman, you already have an idea who her main characters were but if you’re not, I’ll just chip you in. The first book introduces us to five amazing young Nigerian women trying to find the balance between handling their finances appropriately and living their best lives. There’s a whole lot I won’t be delving into because my main focus for this post will be on the lady named Lara and the calamity that befell her in the second book.
So, Lara is said to be an oil mogul leaving “the life” until her mum falls sick and her job gets threatened. Bad enough for her, the problems didn’t end there. Lara soon lost her mum to breast cancer and later on, her job as the company went bankrupt. To the surprise of many, she was broke in less than a year. One would wonder how? Seeing that she raked millions in salary monthly for over seven years that was quite a shock. Well, it’s simple. Lack of asset risk management. The main focus in all this for this post is Lara’s asset management. One would think the big lady that she was and all, she should of course have had health insurance for her family sorted out. Also, life insurance should have been in play but surprisingly the reverse was the case and the loss dealt heavily on her other investments.
The tale related above is the norm in our society today. The point is not that calamity can’t befall anyone and render them broke. The focus is to have your assets, life, health, and everything you can’t bear the risk for protected. This is exactly where insurance comes into play. Insurance firms are available to bear such risks for all.
It is not enough to have assets worth millions in cash, individuals are encouraged to put in the extra effort to ensure that the risks for those assets are being protected. All this is so you don’t end up feeling like you lost at a game of cards after years of toiling.
RIFAN is out with the vision to instill confidence in the hearts of the public in buying insurance products in Nigeria and we cannot achieve this if we do not first educate the general public on the reasons why they should consider insurance.