Insurance industry experts have emphasized that critical illness insurance is a must for Nigerians to protect their health in the nation.
The Coronation Life Assurance Limited organized a webinar session for industry experts with the theme “safeguarding your health: the importance of critical illness insurance.” Wole Famurewa, the anchor for CNBC Africa, served as moderator.
The experts contended that by educating the general public about health insurance, millions of Nigerians may break free from the bonds of debt and dependency, leading to a significant improvement in the nation’s overall health.
Assistant Director of Underwriting and Marketing at Africa Re, Abdul-Rasheed Akolade, described health insurance as a key enabler of wealth.
He explained: “Critical illness insurance is a powerful tool for preserving and building wealth covering named diseases, such as heart attack, stroke, cancer, coronary bypass, major organ transplants or kidney failure. Critical illness coverage is effective in managing large, ongoing and expensive treatments that most people struggle to afford.
“Similarly, permanent health insurance (PHI) is a fantastic tool that ensures disability does not wipe out one’s income or render people dependent on their employers, relatives or friends. PHI makes provision for the payment of an agreed income in the event of permanent disability through accident, ill-health or sickness.”
