#personal risk

- Christopher Reeve

The quote is about courage and personal growth, urging you to choose a path of greater risk and potential reward over one of safety and security.

There are several reasons why you should insure everything about and around you. Things are going to happen differently to your arrangements and you must be ready for such sudden happenings as life is not permanent. For the purpose of this personal advice, I have broken done the general risks around and about you into three distinct parts listed below as: personal risks, asset risks and liability risk. In every step letting you know why you should insure everything around and about you Every asset is expected to last for a certain period of time during which it will provide the benefits, after that, the benefit may not be available. Related: More Nigerians To Own Homes As NMRC seeks to Raise Fresh N20b Bond From Capital Market There is a life-time for a machine in a factory or a cow or a motor car. None of them will last for ever. The owner is aware of this and he can so manage his affairs that by the end of that period or life-time, a substitute is made available. Thus, he makes sure that the benefit is not lost. However, the asset may get lost earlier. An accident or some other unfortunate event may destroy it or make it incapable of giving the benefits. For example an epidemic may kill the cow suddenly and in that case, the owner and those enjoying the benefits therefrom, would be deprived of the benefits. The planned substitute would not have been ready. There is an adverse or unpleasant situation. Here, insurance helps to reduce the effects of such adverse situations. Personal risk People are their own greatest asset. Financial loss will almost always accompany the loss of one’s health or life. Personal risk is the exposure to financial loss and/or additional expenses resulting from premature death or disability. Financial loss may be incurred as a result of the death or disability of an income earner, leaving you, your family or your business financially insecure. Additional expenses may be incurred from the death or disability of a homemaker, such as the cost of child care which previously wasn’t required. The disability of anyone, either temporarily or permanently, can also result in the incurrence of additional expenses, such as specialist treatment, equipment or home modifications. These are just a few examples of the real-life financial impact that premature death or disability can have. To avoid being a sudden victim is why you should insure against such risk. Asset risk People will incur a financial loss when owned property is destroyed or damaged. The list is actually inexhaustible, but let's begin. Your assets are your personal belongings: Property (Company or Residential) and every goods, personal items like wristwatches, clothes, fashion accessories, car, power generator, kitchen appliances etcetera. In case of loss to any of these is why you should insure them. The possibility of financial loss occurring as the result of owing a real estate investment. Property risk might arise from such things as liability, legal issues, partner problems that can force a sale, fire or theft, loss of rental income and purchasing property with an imperfect title. Liability risk When people’s action result in injury or damage to others, the law generally provides that they be held financially responsible. Risk to a company arising from the possibility of liability for damages resulting from the purchase, ownership, or use of a good or service offered by that company. Liability risk can be identified and mitigated through careful product design and testing, but may also be inherent in the nature of the product to some extent, as in the case of automobiles or pharmaceutical supplies. How to get an Insurance policy In Nigeria, an insurance policy can be purchased directly from a company, from an insurance agent of a company, or from an insurance broker who advises you on your appropriate coverage and shops on your behalf among a choice of recommended providers. Insurance policies vary from vendor to vendor, so you are advised to shop around for the best that suit your needs. Click below for the list of all Insurance vendors in Nigeria. Approved List of Registered Insurance Companies and their addresses in Nigeria Image credit: thinksoft  

There are several reasons why you should insure everything about and around you. Things are going to happen differently to your arrangements and you must be ready for such sudden happenings as life is not permanent. For the purpose of this personal advice, I have broken done the general risks around and about you into three distinct parts listed below as: personal risks, asset risks and liability risk. In every step letting you know why you should insure everything around and about you Every asset is expected to last for a certain period of time during which it will provide the benefits, after that, the benefit may not be available. Related: More Nigerians To Own Homes As NMRC seeks to Raise Fresh N20b Bond From Capital Market There is a life-time for a machine in a factory or a cow or a motor car. None of them will last for ever. The owner is aware of this and he can so manage his affairs that by the end of that period or life-time, a substitute is made available. Thus, he makes sure that the benefit is not lost. However, the asset may get lost earlier. An accident or some other unfortunate event may destroy it or make it incapable of giving the benefits. For example an epidemic may kill the cow suddenly and in that case, the owner and those enjoying the benefits therefrom, would be deprived of the benefits. The planned substitute would not have been ready. There is an adverse or unpleasant situation. Here, insurance helps to reduce the effects of such adverse situations. Personal risk People are their own greatest asset. Financial loss will almost always accompany the loss of one’s health or life. Personal risk is the exposure to financial loss and/or additional expenses resulting from premature death or disability. Financial loss may be incurred as a result of the death or disability of an income earner, leaving you, your family or your business financially insecure. Additional expenses may be incurred from the death or disability of a homemaker, such as the cost of child care which previously wasn’t required. The disability of anyone, either temporarily or permanently, can also result in the incurrence of additional expenses, such as specialist treatment, equipment or home modifications. These are just a few examples of the real-life financial impact that premature death or disability can have. To avoid being a sudden victim is why you should insure against such risk. Asset risk People will incur a financial loss when owned property is destroyed or damaged. The list is actually inexhaustible, but let's begin. Your assets are your personal belongings: Property (Company or Residential) and every goods, personal items like wristwatches, clothes, fashion accessories, car, power generator, kitchen appliances etcetera. In case of loss to any of these is why you should insure them. The possibility of financial loss occurring as the result of owing a real estate investment. Property risk might arise from such things as liability, legal issues, partner problems that can force a sale, fire or theft, loss of rental income and purchasing property with an imperfect title. Liability risk When people’s action result in injury or damage to others, the law generally provides that they be held financially responsible. Risk to a company arising from the possibility of liability for damages resulting from the purchase, ownership, or use of a good or service offered by that company. Liability risk can be identified and mitigated through careful product design and testing, but may also be inherent in the nature of the product to some extent, as in the case of automobiles or pharmaceutical supplies. How to get an Insurance policy In Nigeria, an insurance policy can be purchased directly from a company, from an insurance agent of a company, or from an insurance broker who advises you on your appropriate coverage and shops on your behalf among a choice of recommended providers. Insurance policies vary from vendor to vendor, so you are advised to shop around for the best that suit your needs. Click below for the list of all Insurance vendors in Nigeria. Approved List of Registered Insurance Companies and their addresses in Nigeria Image credit: thinksoft  

There are several reasons why you should insure everything about and around you. Things are going to happen differently to your arrangements and you must be ready for such sudden happenings as life is not permanent. For the purpose of this personal advice, I have broken done the general risks around and about you into three distinct parts listed below as: personal risks, asset risks and liability risk. In every step letting you know why you should insure everything around and about you Every asset is expected to last for a certain period of time during which it will provide the benefits, after that, the benefit may not be available. Related: More Nigerians To Own Homes As NMRC seeks to Raise Fresh N20b Bond From Capital Market There is a life-time for a machine in a factory or a cow or a motor car. None of them will last for ever. The owner is aware of this and he can so manage his affairs that by the end of that period or life-time, a substitute is made available. Thus, he makes sure that the benefit is not lost. However, the asset may get lost earlier. An accident or some other unfortunate event may destroy it or make it incapable of giving the benefits. For example an epidemic may kill the cow suddenly and in that case, the owner and those enjoying the benefits therefrom, would be deprived of the benefits. The planned substitute would not have been ready. There is an adverse or unpleasant situation. Here, insurance helps to reduce the effects of such adverse situations. Personal risk People are their own greatest asset. Financial loss will almost always accompany the loss of one’s health or life. Personal risk is the exposure to financial loss and/or additional expenses resulting from premature death or disability. Financial loss may be incurred as a result of the death or disability of an income earner, leaving you, your family or your business financially insecure. Additional expenses may be incurred from the death or disability of a homemaker, such as the cost of child care which previously wasn’t required. The disability of anyone, either temporarily or permanently, can also result in the incurrence of additional expenses, such as specialist treatment, equipment or home modifications. These are just a few examples of the real-life financial impact that premature death or disability can have. To avoid being a sudden victim is why you should insure against such risk. Asset risk People will incur a financial loss when owned property is destroyed or damaged. The list is actually inexhaustible, but let's begin. Your assets are your personal belongings: Property (Company or Residential) and every goods, personal items like wristwatches, clothes, fashion accessories, car, power generator, kitchen appliances etcetera. In case of loss to any of these is why you should insure them. The possibility of financial loss occurring as the result of owing a real estate investment. Property risk might arise from such things as liability, legal issues, partner problems that can force a sale, fire or theft, loss of rental income and purchasing property with an imperfect title. Liability risk When people’s action result in injury or damage to others, the law generally provides that they be held financially responsible. Risk to a company arising from the possibility of liability for damages resulting from the purchase, ownership, or use of a good or service offered by that company. Liability risk can be identified and mitigated through careful product design and testing, but may also be inherent in the nature of the product to some extent, as in the case of automobiles or pharmaceutical supplies. How to get an Insurance policy In Nigeria, an insurance policy can be purchased directly from a company, from an insurance agent of a company, or from an insurance broker who advises you on your appropriate coverage and shops on your behalf among a choice of recommended providers. Insurance policies vary from vendor to vendor, so you are advised to shop around for the best that suit your needs. Click below for the list of all Insurance vendors in Nigeria. Approved List of Registered Insurance Companies and their addresses in Nigeria Image credit: thinksoft  

There are several reasons why you should insure everything about and around you. Things are going to happen differently to your arrangements and you must be ready for such sudden happenings as life is not permanent. For the purpose of this personal advice, I have broken done the general risks around and about you into three distinct parts listed below as: personal risks, asset risks and liability risk. In every step letting you know why you should insure everything around and about you Every asset is expected to last for a certain period of time during which it will provide the benefits, after that, the benefit may not be available. Related: More Nigerians To Own Homes As NMRC seeks to Raise Fresh N20b Bond From Capital Market There is a life-time for a machine in a factory or a cow or a motor car. None of them will last for ever. The owner is aware of this and he can so manage his affairs that by the end of that period or life-time, a substitute is made available. Thus, he makes sure that the benefit is not lost. However, the asset may get lost earlier. An accident or some other unfortunate event may destroy it or make it incapable of giving the benefits. For example an epidemic may kill the cow suddenly and in that case, the owner and those enjoying the benefits therefrom, would be deprived of the benefits. The planned substitute would not have been ready. There is an adverse or unpleasant situation. Here, insurance helps to reduce the effects of such adverse situations. Personal risk People are their own greatest asset. Financial loss will almost always accompany the loss of one’s health or life. Personal risk is the exposure to financial loss and/or additional expenses resulting from premature death or disability. Financial loss may be incurred as a result of the death or disability of an income earner, leaving you, your family or your business financially insecure. Additional expenses may be incurred from the death or disability of a homemaker, such as the cost of child care which previously wasn’t required. The disability of anyone, either temporarily or permanently, can also result in the incurrence of additional expenses, such as specialist treatment, equipment or home modifications. These are just a few examples of the real-life financial impact that premature death or disability can have. To avoid being a sudden victim is why you should insure against such risk. Asset risk People will incur a financial loss when owned property is destroyed or damaged. The list is actually inexhaustible, but let's begin. Your assets are your personal belongings: Property (Company or Residential) and every goods, personal items like wristwatches, clothes, fashion accessories, car, power generator, kitchen appliances etcetera. In case of loss to any of these is why you should insure them. The possibility of financial loss occurring as the result of owing a real estate investment. Property risk might arise from such things as liability, legal issues, partner problems that can force a sale, fire or theft, loss of rental income and purchasing property with an imperfect title. Liability risk When people’s action result in injury or damage to others, the law generally provides that they be held financially responsible. Risk to a company arising from the possibility of liability for damages resulting from the purchase, ownership, or use of a good or service offered by that company. Liability risk can be identified and mitigated through careful product design and testing, but may also be inherent in the nature of the product to some extent, as in the case of automobiles or pharmaceutical supplies. How to get an Insurance policy In Nigeria, an insurance policy can be purchased directly from a company, from an insurance agent of a company, or from an insurance broker who advises you on your appropriate coverage and shops on your behalf among a choice of recommended providers. Insurance policies vary from vendor to vendor, so you are advised to shop around for the best that suit your needs. Click below for the list of all Insurance vendors in Nigeria. Approved List of Registered Insurance Companies and their addresses in Nigeria Image credit: thinksoft