Question
State four reasons why few Kenyans take out life assurance policies.
Answer
i) Ignorance of the importance of these policies
ii) Widespread poverty/low incomes
iii) Fear of losing their money because of past experience of collapse of companies
iv) Lack of enough knowledge to interpret the clauses in the policy
v) Corruption and embezzlement of funds by insurance company officials, resulting in delays of compensation
vi) The elaborate and time consuming procedures of claiming compensation
ii) Widespread poverty/low incomes
iii) Fear of losing their money because of past experience of collapse of companies
iv) Lack of enough knowledge to interpret the clauses in the policy
v) Corruption and embezzlement of funds by insurance company officials, resulting in delays of compensation
vi) The elaborate and time consuming procedures of claiming compensation
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