Insurer Condemns Apathy To Life Insurance Policy

The Managing Director of CrystaLife Assurance Plc., Lagos,
Mrs Oluseyi Ifaruoti, has decried what she described as Nigerians’ low response
to life insurance policy.

Ifaruoti told our correspondent, in Lagos, that the apathy
had persisted, in spite of the industry’s campaigns on the benefits of having a
life insurance policy.

“Despite the awareness campaigns, Nigerians still look at
life insurance as something foreign,” she said.

Ifaruoti said that corporate organisations were responding
better than individuals because they had responsibilities to their employees.

She stressed that the industry would continue to create the
needed awareness until the situation changed for the better.

“Nobody knows how long he will live and when you are out of
employment you do not want to start taking risks.

“You want to make sure that you have something that
guarantees your income for life and that is where annuity comes in,” Ifaruoti
added.

According to her, annuity with an insurance company ensures
income for a pensioner every month.