Insurance

AT THE END OF THIS LESSON, YOU WILL BE ABLE TO:

  1. Explain insurance
  2. Discuss under-insurance and over-insurance
  3. Explain beneficiaries
  4. Explain the importance of honesty when dealing with insurers

Themba reminds Sophie about the Secret of the Buffalo and how they are stronger in herds. That is similar to how insurance companies work. They have many people paying a small monthly premium that allows them to protect people against big, and potentially expensive, events in their lives.

Themba asks Sophie if she has any short or long-term insurance that will provide for her and her family if something happened to her or anything she owned? Sophie says she belongs to a Burial Society. Themba says that is good but there are a lot of other types of insurance she should know about.