Posted on: 20th Oct 2020
Takaful is a policy of mutual co-operation, solidarity, common interest, shared responsibility, joint indemnity and brotherhood against unpredicted risk or catastrophes, in which the participants involved are expected to contribute genuinely.
Takaful in Arabic means “Joint Guarantee”. It provides policyholders with the self-discipline for savings and investment and encourages the habit of sound financial planning to take care of themselves and the needs of their children and families.
A Family Takaful Plan is an ethical insurance product that combines long-term savings, investment, and financial protection meant to cater for future contingency needs.
Objectives of Family Takaful Plans are:
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Posted on: 16th Apr 2019
People are naturally not very trusting. Not of each other, not of the government and most certainly not of corporate entities. Therefore, it is not at all surprising that people have an inherent distrust in insurance companies and especially on the subject of insurance claims.
Now, we can go ahead and say that this lack of trust in insurance companies and insurance claims, could be as a result of a deficit in information coupled with very little or no sensitization on the matter – and this would be true. However, this is not the only reason people shy away from insurance. While it is a major factor (not having all the facts about how it works), there is also the issue of mismanagement and unprofessional behavior from (either fraudulent or inexperienced) insurance companies. Some of these people have had personal encounters that have left no pleasant memories, while the larger set of people in this category have heard stories of insurance claims gone wrong or unsubstantiated rumors which have only made matters worse.
In order to quell the misunderstanding and lack of information revolving around insurance claims, it is pertinent to know how it actually works. At African Alliance, we do our best to make this process is as easy, as straightforward and as seamless as possible. Here are some tips to ensure that nothing goes wrong;
In the initial stage when signing up for an insurance policy, you will be presented with what is called a proposal form. Make sure that your signature on this form is consistent (the same) as the one on the claim form. This will avoid a lot of unwarranted issues in the future.
Always provide a valid means of identification. So whether it’s a National ID card, International passport, Permanent Voter’s Card or a Driver’s License, make sure that it has not expired when presenting it for documentation.
The person whose life is being insured must have an active bank account when making claims.
It may not seem like much, perhaps it looks too easy, but with these simple guidelines strictly adhered to, insurance claims at African Alliance tend to go on without a single hitch. It may also interest you to know that these steps are sometimes also easily taken for granted.
It is also important to note that corporate accounts will not cut it for insurance claims and we believe that you would also agree that it is far easier to make payments into your personal account. However, in a case where the claims are to be paid into a joint account, make sure to provide proper documentation of said joint account in order to experience an unproblematic process. Insurance claims work and the smoothness of the procedure or process is also dependent on the insurance company. Hence, when it comes to life you should choose African Alliance PLC, we’re your best bet for all things life insurance.
Posted on: 10th Apr 2019
One of the things people like to put off until much later is insurance. For either a lack of concrete information, sensitization or some reason yet unknown, they see no immediate need for it and would often procrastinate on getting one for a long period of time. In many cases, folks tend to push back getting insurance as far back as years (not even months). It is quite common to see people who have been thinking (or may have heard about insurance) and yet haven’t found the time or seen the need to get it right away. Some of these people have had insurance pending for as much as a decade or even more.
Nonetheless, we can boldly say that the right time to buy insurance is now! We understand that a lot happens in the life of an individual and people tend to get carried away with their highs and lows, successes and failures, and so on and so forth. However, the importance of getting insured cannot be overemphasized yet this will not hinder us from telling you why you need to get insurance and why you need to get it now.
Why Do You Need Insurance?
Insurance helps you to adequately prepare for the unforeseen. We do not wish that harm will come to you and it is safe to assume that you do not wish such for yourself either. However, life itself is a risk and as much as we all love living, no one can tell when he or she will make an exit. Therefore, you need (life) insurance to (financially) protect the people you love and care for, in case of an accidental loss of life.
African Alliance is an authority on all things life insurance. We are professionals at guiding our customers on how to protect the interest of their loved ones in a world where tomorrow is not promised. You need insurance to safeguard the future of your loved ones.
What Can You Insure?
You can take out a “life” insurance cover for yourself and your loved ones. However, there’s are also lots of insurance companies that provide insurance covers for properties and personal items of value. Things such as your car, house, business, disability, health and so on and so forth.
There are even other types of insurance schemes that cover unique items such as body parts (nose, legs, etc), engagement rings, voice, and face and so on. However, African Alliance handles all things regarding and relating to life insurance.
Why Do You Need It Now?
1. As mentioned earlier, no one can foretell what happens hereafter. It is better to secure your family’s future now by getting a life insurance cover (preferably from us here at African Alliance).
2. Getting (life) insurance when you’re much younger is a plus. This is because you’re most likely healthier and you enjoy a significantly lower risk of incurring any health issue. This can help you bargain for better insurance so why not do it now? Note that whatever your age may be right now even as you read this, it is still the best time to get insurance.
The more time you spend procrastinating on getting insurance the more disadvantaged you become. This is evident in the kind of insurance you’re able to get and also in the event that something happens to you without any plan for your loved ones. There is a popular saying; “the right time to plant a tree was 50 years ago, the next best time is now”. This is the exact same principle for getting insurance, the best time to get one is now!
Posted on: 4th Apr 2019
There are some topics of discussion that we’ve either never thought about or haven’t exactly found the time to do research on. One of such topics is how to include your stepchild in your insurance policy. The truth is, your family is all that you’ve got and whether you are related by blood or connected by love, you should want to take care of them the best way that you can. So whether your child is your direct offspring or not, you can always include him or her in your insurance policy.
Here at African Alliance, we have comprehensive insurance covers that cater to your entire family. We’ve made it as simple and as straightforward as possible so that our customers are able to enlist a variety of beneficiaries including their children who aren’t necessarily related to them by blood (stepchild or children). Anyone who would suffer a financial loss due to your demise can be enlisted as a beneficiary to your life insurance coverage provided that all necessary requirements and documentation are met.
So how does one go about this, what are the steps to take in ensuring your stepchild is included in your insurance policy? The four basic things to do are as follows;
There is a procedure or a method for these sort of things and every insurance company has one installed for a case such as this. Therefore, the first step to including your stepchild in your insurance policy is to either place a call, send an email or visit the insurance company to find out what the procedure is to make this happen. Different insurance companies tend to go about situations like this in their own unique way. Call us, email us or visit us today at African Alliance to find out the procedure to get this done.
Getting to know the procedure is great and very necessary as we have explained above. What comes next is the necessary documentation required for the furtherance of this process. Your stepchild is a personality void of your own and hence you will need to present documents supporting your claim and also stating your purpose for doing this. Again, you can reach out to us here at African Alliance to guide you on what to do and what documents you would need.
It is very important to know what you’re enrolling your stepchild for and hence it is only wise to ask about how your insurance policy covers him or her. You also need to request for information regarding whatever costs additional costs you may incur from including your stepchild in your insurance coverage. There may be sums deducted or extra payments to be made and asking about the cover will get you the information that you need. Let us know at African Alliance if you need help with this.
After all, is said and done, make sure you check to confirm that your stepchild has been included in your insurance policy. No one is free from human error and for such a delicate thing as this, it won’t take much to confirm that the changes have been implemented.
Your stepchild shouldn’t suffer financially because they do not bear the same name as you. If you love them and think they should be catered for, you can express this love by including them in your insurance policy.
Posted on: 29th Mar 2019
African Alliance has had a long and industrious tenure in the insurance business spanning over 59 years (since the 6th of May, 1960) and in that time we have diligently built our corporate identity to what it is today. However, it is time for a change and it’s the perfect time for reform. Hence, as one of the foremost insurance companies not just in Nigeria but in Africa, we have decided to take up a new corporate identity.
Your identity is you and you are your identity. What this simply means is that whatever you stand for is fully expressed in what makes up your brand’s identity. It is a reflection of your core values and how you operate. It is how the world will come to know your brand. Therefore, the corporate identity of any organization is essentially the manner in which that organization is perceived.
Change is said to be the only constant thing in life and at African Alliance, we do not resist change but instead, we embrace it. However, the decision to take on a new corporate identity is not a rash one (it wasn’t taken overnight), as we have been meticulously researching and reviewing our policies, modus operandi and most especially what it means to make our customers happy for a while now. We have dug deep into this current dispensation, in a bid to uncover what the best fit is in these modern times.
What are the Benefits of taking on a New Corporate Identity?
As mentioned earlier, one of the major benefits of taking on a new corporate identity is the opportunity to reach a new audience. We are particularly excited that we would be able to reach a new demographic (a new audience) especially one that is targeted towards young people (who are known to be the strength of any economy). A new audience means new business and new business means profit.
As mentioned earlier, we have reviewed everything within our quarters including policies and goals. Moving forward, enviable policies, schemes and so much more will be unveiled. Thanks to the opportunity of a rebranding process, we would able to pursue and unveil new goals that are highly beneficial to our customers.
One of the most important dividends of taking on a new corporate identity is that it helps a company’s brand to remain relevant. We have spoken previously about change and hence changing or switching up your corporate identity helps your brand to keep up. Updating our identity right now is very strategic and this is because as a company, a new identity helps to keep us in the running for greatness.
We believe that any entity that plans to survive must evolve. We are not blind to the new and continuously growing demographic of young people and as such we have decided to intentionally reach out to them. Connecting with the youths and ensuring customer satisfaction of existing clients is a major priority for us right now and we are working tirelessly to see this through.
Posted on: 28th Dec 2018
It’s a bit of an old wives tale to learn that life insurance is still being greatly misunderstood or not understood at all, even in this dispensation. In the midst of the crosshairs lies the debate on the need to take life insurance for your kids when they are still young.
There have been so many disputes concerning this topic and people would often argue that there was simply no need to buy life cover for a young child. This argument is based mostly on the fact that a child who has not yet lived and most likely stands a lower chance of passing away, would not need an insurance plan. This argument seems solid until you hear our reasons why you need to take an insurance plan for your young child and we have as much as three.
Taking out an insurance plan for a young child might seem pointless but only when you’re thinking of the ‘now’. You need to be able to see how subscribing to an insurance plan will benefit your young children financially when they eventually become young adults and even older. It’s a financial safety net for important life needs of the child. Things as essential as tuition for school and other financial needs can be settled by taking a life cover for that very young child. It’s really as simple as imagining the kind of future you want for that child, especially as he or she would not remain a child forever.
Your young child who possesses a life cover is a very strong candidate for a better one when he or she is much older. The quality of that life insurance is also stepped up by virtue of the fact that your child has a history of life insurance. All your kids need to do when they are of age, is to apply for a cover that better suits their needs as the case may be. For them when older, it’s a matter of stepping up a good deal to a great one.
Some people would like to be sentimental or sometimes even emotional and claim that they won’t lose their children. Others just see it as a very low probability. But can you really say? Of course, nobody wishes an unfortunate thing as such for his or her kid(s), but wouldn’t you rather be prepared? Wouldn’t you rather have a life insurance plan to take care of all the financial commitments that would arise as a result of their passing, while you are left alone to properly handle your grief? Think about it. This life cover can also serve as a provision for you and your family should you even need to take time off work.
This article started with strong arguments, but having listed these reasons why you should take up an insurance plan for your young child, you can see that this is clearly a matter of reality and facts. The reality is what it is – uncertain, but the fact also remains, that you can always be better prepared when you get your young child a life insurance plan.
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