Insurance

Protect Your Family’s Future.

Insurance is an arrangement in which an insurance company compensates a person or a company for a specified loss caused by e.g. an accident, fire, injury, illness or death in return for an agreed amount of money paid in advance (this is called a premium).

Insurance only applies when you buy the insurance before any accident, damage, sickness, loss or death happens. An insurance company will not pay you if you buy insurance after the unfortunate event has happened.

Insurance is a form of protection against a threat or possibility of loss. Any risk in one’s life in any form is insured in an insurance cover to protect an individual/s or an organization from a total loss.  The consumption of Insurance in developing countries like Uganda is generally low.

This low consumption is because of lack of awareness among the public despite the existence of Insurance Agents, Insurance companies, Insurance training Institutions.

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Register Now for Financial Literacy Training at The Uganda Institute of Banking & Financial Services

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