Post by UgoK Christ (@UgoK)

LET’S TALK ABOUT LIFE INSURANCE – SERIES 3/3

Over the last two posts, we’ve talked about what life insurance is and why people buy it.

Today, let’s talk about some of the myths.

Because sometimes what stops us isn’t lack of information—it’s misinformation.

Myth #1

❌ Life insurance is only for rich people.

✅ Life insurance was created to help ordinary families manage financial risk.

Myth #2

❌ I’m young. I don’t need it.

✅ Many people purchase coverage when they’re younger because it’s often more affordable and easier to qualify for.

Myth #3

❌ My employer’s coverage is enough.

✅ Employer coverage is a great benefit, but many people are surprised to learn how limited it may be and that it often doesn’t follow them when they leave their job.

Myth #4

❌ Life insurance is a waste of money if I don’t die.

✅ Different types of life insurance serve different purposes. Some focus strictly on protection, while others may offer additional benefits depending on the policy.

Myth #5

❌ Life insurance is complicated.

✅ It can seem that way at first. But so did banking, investing, and using the internet. Understanding begins with asking questions.

One Action You Can Take Today

Visit the website of a reputable insurance company and read about one product.

Not to buy.

Just to learn.

Some reputable companies in Nigeria include:
• AIICO Insurance
• Leadway Assurance
• AXA Mansard
• Custodian Life Assurance
• Cornerstone Insurance
• Mutual Benefits Assurance

Call their customer service line.

Ask:
“If I knew nothing about life insurance, what should I understand first?”

You might be surprised by the answers.

📚 Recommended Reading:
The Richest Man in Babylon

Because financial wisdom begins with curiosity.

💭 What’s the biggest thing you’ve heard about life insurance that you’re not sure is true?

#Lekeelekee #FinancialWisdom #LifeInsuranceSeries #MoneyConversations #FinancialEducation #LegacyBuilding #PlanLikeAnAdultBelieveLikeAChild

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