Lubinda urges Zambians to embrace insurance

Sun, 15 Jan 2017 10:40:42 +0000

By CHARLES MUSONDA

MINISTER of Justice Given Lubinda has urged Zambians to embrace insurance in all aspects of life.

Speaking in Lusaka when he graced launch of the life insurance programme for small-scale farmers and marketeers at New Soweto Market yesterday, Mr Lubinda said people should not only turn to insurance when calamity strikes.

“Insurance is a necessity but we easily ignore it. We only remember insurance when we have calamities,” Mr Lubinda said.

The minister commended Zambia National Marketeers Credit Association (ZANAMACA), Liberty Insurance, Zamtel, and Uniturtle Industries Limited for coming up with an initiative to reach out to the weakest in society.

He said insurance was important for the marketeers because they suffer when their goods are destroyed by fire and other disasters, thereby forcing them to borrow capital.

Mr Lubinda also called on Zambians to prepare for their deaths by insuring their lives.

“How many of us are prepared for our death? In Africa it is a taboo to talk about death but death is a fact yet we tend to ignore it…I am appealing to Zambians to think positively about death. How many of us have taken out wills? To ignore that is to run away from the truth of life. Prepare for that day for it is certain.

“Marketeers have a programme to help each other during funerals but that cannot be relied on because it depends on whether marketeers are in the right frame of mind to contribute,” Mr Lubinda said.

He said the monthly premium of K24 that marketeers will be paying to cover eight family members translated into K3 monthly premium per person, and that those covered shall be buried in dignity and respect.

Mr Lubinda urged ZANAMACA to ensure all marketeers countrywide take part in the life insurance programme.

The Minister also called on ZANAMCA’s partners in the life insurance programme to come up with new products and extend entrepreneurship knowledge to marketeers.

He said many marketeers desire to grow their business but they lack necessary knowledge and resources to break out “of this cocoon.”

Mr Lubinda said Government is concerned about growth of the insurance industry and that as Minister of Justice, he is awaiting proposals to change laws that will ensure insurance providers expand and provide other products.

He called on the Pensions and Insurance Authority to review the life insurance programme for marketeers and ensure other insurance companies replicate it.

“We all must be covered by life assurance and we should think about that day because it is certain to come,” he said.

Others who spoke were ZANAMACA president Frank Kameya, Liberty Life Insurance Zambia Managing Director Mark Gobie, and Uniturtle Industries Chief Executive Officer Vinod Patel.