The COVID 19 pandemic is the most discussed topic across the world, as expected. Funny how it seems like just yesterday we welcomed the year 2020- with high hopes, plans, and dreams; but alas, many of those plans have been completely thwarted or had to be paused.
As unpleasant as the situation might be, one thing we can all agree on is that; there is a lesson or two to be learned from all that’s happening. One of such lesson is unarguably the need for a backup plan and more importantly, the need for financial protection against unforeseen events. Now more than ever, we understand why we need to ask ourselves the question “What if…?” and the need to have a financial plan to make sure we can maintain our lifestyle regardless.
Earlier this month, we found out how Wimbledon, the oldest tennis tournament in the world, saved millions because they had a pandemic insurance in place. After the first 3-5 years of paying 2 million annually for pandemic insurance, they could have easily said: “You know what, let’s save money on this, it’s not like we would ever need it”. Instead, for 17 years, they had that insurance in place, and it has cost them around $34 million in premiums. Today, while other tournaments are struggling and might not have any income to generate in 2020, Wimbledon will receive about $142 million in pandemic insurance payout.
If we are being honest, a lot of people might not come out of this situation in the best financial position, therefore, it is important we put things in place to ensure that in the event of loss or unforeseen circumstances, you can still power through without having so much financial burden placed on you. If you own a house, do you have an insurance policy in place to protect your home and household appliances from loss due to fire, theft or even, flood, etc.? What if there’s an unexpected loss of life of a loved one, do you have the finances for the burial expenses? What happens to your children’s education if you’re no longer able to sponsor them? Will the family be able to maintain its current lifestyle if there’s an unexpected hit?
At Leadway Assurance, we provide an array of insurance covers and plans that help you stay ahead of the next unforeseen loss. Let’s get you the most suited insurance cover(s) to ease any financial liability in the event of a loss of life and/or property or unforeseen circumstances like the COVID 19 pandemic.
For inquiries and comments, feel free to contact us via email at [email protected] or call (+234) 01-2700700. You can also visit our website at www.leadway.com to know more about us and our services. If you would like us to call you, request a call-back here.