Securing Your Future: Understanding Insurance and its Role in Your Life
Insurance is a fundamental aspect of modern life, providing financial protection and peace of mind against various risks and uncertainties. Insurance, despite its importance, is yet to be established in the minds of many. For many individuals, the only insurance they will ever need will be for their health and the cars they ride, largely because per the laws of the country, it is mandatory. ??
From health emergencies to property damage, insurance aids in mitigating the financial impact of unforeseen events. Insurance does not necessarily cover one’s health or vehicle but every aspect of life.
To understand insurance very well, there are some insurance terms one would need to learn. They are as follows:
·?????? Premium: The amount paid periodically to the insurer by the insured for covering their risk.
·?????? Policy: The contract between the insurer and the insured outlining the terms and conditions of the insurance coverage.
·?????? Deductible: The amount the insured must pay out-of-pocket before the insurer covers the remaining costs.
·?????? Claim: A request made by the insured to the insurance company for payment of benefits under the policy.
And then there are the different types of insurance:
·?????? Health Insurance
·?????? Life Insurance
·?????? Auto Insurance
·?????? Homeowners/Renters Insurance
·?????? Disability Insurance, Liability Insurance and many more
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The Zenith Bancassurance policies, underwritten by Prudential Life Insurance offer the best insurance packages on the market. The policies include a Life Plan, Educational Plan, Ultimate Classic Farewell Plan, Ultimate Premier Farewell Plan.
Zenith Life Plan
The Zenith Life Plan provides maximum protection till the attainment of age 70. It provides 100% return of premiums if no claim is made during the policy term, allowing policy holders to recover all their premiums paid if they out-live the policy term. It also gives you a death benefit (till age 70), total permanent disability (till age 65),an annual medical check-up and no claim cash back –100% of premiums
Zenith Education Plan
The Zenith Education Plan is a special life insurance plan that enables parents to give their wards quality and guaranteed education irrespective of whether they are dead or alive.? You are assured of a waiver of premium benefit (on death or on total permanent disablement), maturity benefit or last five annual benefit, annual partial withdrawal and graduation benefit.
?Zenith Ultimate Premier Farewell Plan
This life insurance policy enables individuals to meet their financial obligations and give financial security to their immediate families after they have passed on. The plan gives access to death benefit, waiver of premium benefit, return of premium, no claim cash back, annual benefit escalator and voucher benefits.
While the Zenith Ultimate Premier gives insurance to the immediate family, the Zenith Ultimate Classic Farewell Plan also helps policy holders secure themselves and the rest of their external family for final expenses when any of them pass on. The farewell plan offers you death benefit, loyalty benefit, no claim cash back, accidental death benefit, a family cushion benefit, hospitalisation, waiver of premium and return of premium.
Understanding and utilizing insurance is essential for securing your future and protecting against life's uncertainties. By understanding and embracing the full spectrum of the insurance options available through Zenith Bank Ghana, you can safeguard your financial future and ensure that you and your loved ones are well-protected against life's uncertainties.
Secure your future today with Zenith Bancassurance.
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