To be honest I do not have any form of insurance policy, I mean I do not have car insurance, I do not have health insurance, I do not have life insurance nothing like that.. and the reason for this, is not that I think insurance is useless or that it is a scam or anything like that, no, the simple truth is that I just do not have the money or the resources for insurance policies at this time.
So it is like this, you see sometimes when people talk about insurance, they talk about insurance like insurance is something that every responsible adult should automatically have.. then the reality of this insurance is that not everyone is financially in a position to get insurance, this is because when you are still trying to figure life out, you are still trying to survive and handle your expenses.
In this situation insurance can feel like a burden instead of a safety net and that is the reality of insurance for some people, so that being said for some people insurance is not a priority when you are still struggling to make ends meet with your daily expenses and it feels like an extra cost.
So for me, my money goes to my immediate needs, things like food, transport, small personal expenses, and just normal basic living, an fit is not as if I have a big job that's pumping in money for me right now, no, not yeta at least, so when you are now managing the little you have, you start prioritizing what you can see and touch right at the moment , and insurance feels like paying for something that may never happen, and when every naira counts, maybe feels risky.
So I do understand why some people see insurance like a kind of money pit, because you might keep paying monthly or yearly, and sometimes nothing even happens, so will feel like you are just feeding a system and that you are not getting anything back in return, and especially if you have never experienced a major accident or emergency, it is easy to think, why am I paying for this ?
But then at the same time, I also understand the other side, life is really unpredictable, one accident, one hospital visit, one emergency can wipe out your savings in a second, and in that sense, insurance is not about expecting bad things to happen, it is about preparing just in case they do, It is more like protection than profit.
I think the real issue for many people like me is not whether insurance is good or bad, it is about capacity and sometimes it is not a kind of mindset problem, It is a financial situation problem, you can understand the importance of something and still not be able to afford it, and that doesn’t make you irresponsible, it just means you are working with what you have.
As I get older, i am starting to understand why insurance is so important, when you have a lot of things to take care of, like a car or a business or a family you have more to lose, this means you have to think about what could go and how you can protect yourself, at this point having insurance does not seem like something you can choose to do or not do it seems like something you really need to have, Insurance becomes a necessity when you have many assets and big responsibilities.
Right now, I will not lie o ,survival and stability come first for me, I would rather focus on building myself financially before adding extra monthly commitments, but that does not mean that i will never consider it in fact, I will consider it soonest, yes, In the future, when I am more financially stable, I would definitely look into getting at least health insurance, because hospital bills are not friendly at all in any way.
So no I do not have insurance and It is not because I think insurance is useless but because I am being realistic about my current situation, Insurance can Feel like a waste of money or a lifesaver depending on how you look at it and also most importantly your financial level, so for now I am choosing to focus on building something strong with what i have, and yes I will get insurance when the time is right for me and when my financial situation is stable.
That is honestly where I stand.
