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  • In Nigeria, it takes one random moment to scatter your year. One wrong step, one loud bang, one medical diagnosis, and your life spirals into chaos. 

    We call it “life happening.” And when it hits, it doesn’t just drain your account; it tests your stability, plans, and sanity.

    Here’s how it comes at you fast, and how to bounce back without spending a kobo. 

    1. The danfo heist trick that costs you your phone and your dignity

    You’re squeezing into the front seat of a danfo after a long day at work. The conductor shouts: “Oga, police dey front! Abeg use seatbelt!”

    You don’t notice the person beside you as you fumble with the broken strap. Their fingers are light and professional. By the time the driver announces, “We no dey go again,” and forces everyone out, it hits you: your phone has been lifted.

    Now, you’re trying to find your way home, clutching an emergency ₦18,000-button phone that can barely send texts for the next 10 months.

    How to protect yourself: Accidents and stolen gadgets hurt. Having insurance coverage for your phone or emergency medicals means this doesn’t have to be the end of your year.

    2. You enter a “One Chance” ride and lose everything

    It’s late, you’re tired from work, and the drivers on ride-hailing apps keep cancelling. When a clean private car pulls up and offers a ride your way, exhaustion decides for you.

    Within minutes, the atmosphere shifts. The doors lock. They beat you, collect your valuables, and dump you on the roadside. You wake up in the hospital with bruises and bills you didn’t budget for.

    How to protect yourself: One chance is traumatic enough, and accident insurance won’t erase the trauma, but it can help you start again without going into debt.

    3. Your car breaks down in Lagos traffic. Then Lagos finishes the Job

    You’re on the Third Mainland Bridge when your car engine breaks down. After calling five mechanics (none of whom were available), you find a spot to park overnight.

    When you return in the morning, your side mirrors, wipers, wheel caps, and battery have vanished. What started as one problem has evolved into five emergencies with different invoices.

    Now you’re paying for repairs you didn’t plan for, on top of mechanic and towing fees. 

    How to protect yourself: A little car damage insurance can help you manage the cost of repairs from vandalism or minor accidents, and if you can get that coverage for free, even better.

    4. The keke accident that leaves you limping and stressed

    You’re crossing the road on a typical morning. You have the right of way, but the keke driver is moving fast and furious and doesn’t brake in time. 

    The impact isn’t dramatic, just a sickening thud, a moment of shock, and pain shooting up your leg.

    At the hospital, the doctor says nothing is broken, but you’ll need a leg brace, pain medication, and follow-up visits. The bill? ₦30,000 you don’t have right now.

    How to protect yourself: Accident insurance can cover emergency care and hospital bills, so your bank account doesn’t bleed while you heal.

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    5. When your office HMO sends “thoughts and prayers”

    For months, you’ve ignored the headaches and fatigue. But when you finally drag yourself to the hospital, the diagnosis requires immediate attention, and a ₦250,000 treatment plan.

    No problem, you think. We have company insurance.

    You confidently approach HR, only to hear: “Sorry, that particular condition isn’t covered in our basic plan.”

    How to protect yourself: Don’t just rely on your company’s HMO policy. Get a backup insurance plan so surprises like this don’t mess with your health or finances.

    6. Your phone’s beachside funeral

    It was supposed to be your day off. No alarms, no deadlines, just you, someone special, and the soothing sound of waves at Tarkwa Bay Beach.

    The sun is setting. You’re taking that perfect silhouette picture when your phone slips from your sand-covered fingers. It happens quickly: the splash into the seawater, your frantic grab, and the momentary relief when it seems fine.

    But on the drive home, it slips again. This time, it hits the concrete. The screen shatters, and the water damage finishes the job. Suddenly, your digital life is frozen behind a dead black screen.

     Then you’re hit with an unexpected ₦150,000+ expense. 

    How to protect yourself: With gadget protection, you can either repair or replace it without spending rent money or asking your vendor friend for a payment plan.

    So, What’s the Fix?

    What if we told you there’s a way to get protected, completely free of charge?

    The Alternative Bank (AltBank), a CBN-licensed digital bank built on non-interest, ethical banking, is offering new users free Takaful insurance.  

    All you have to do is open an AltBank account and complete simple tasks on the app, like paying bills, referring friends, or making transactions, and you unlock real insurance benefits:

    • ₦75,000 for car damage due to fire, accidents, or attempted theft.
    • ₦30,000 for cracked screens, water spills, or malicious gadget damage.
    • ₦150,000 in the event of permanent disability or death.
    • ₦20,000 to cover sudden medical bills.

    How It Works

    You earn points every time you complete a simple activity, like signing up, using USSD, getting a debit card, paying bills, or referring friends. 

    Every 10 points equals one month of free coverage. You can enjoy this protection bundle for up to 12 months by completing 12 easy tasks on the AltBank app.

    Earn points simply by doing banking activities you’d do anyway:

    • Open an account and complete onboarding on the AltBank app.

    • Enrol for USSD banking.

    • Get your AltBank debit card.

    • Maintain a monthly turnover of ₦50,000 or more.
    • Make at least 10 transactions monthly.

    • Pay bills or top up airtime/data 5 times (₦5,000+ each)

    • Refer three friends to AltBank.

    • Each friend opens an account and funds it (₦5,000+)

    • Each referred friend completes 2+ transactions.

    • Each referred friend pays bills/ top-ups 5 times (₦5,000+ each)

    • Take any AltBank loan or credit product.

    One unexpected disaster shouldn’t be the reason you enter survival mode or put your plans on hold for months.

    Download the AltBank app today and get free protection. Because in Nigeria, life happens fast, but recovery doesn’t have to be slow.

    Also Read: I Tried to Survive on Nigeria’s ₦70k Minimum Wage for a Month. I Only Lasted 14 days.

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  • Like the dry, dusty Harmattan wind, inflation is blowing across Nigeria, and its chill is felt everywhere. From food to petrol, transportation to housing, prices are rising alarmingly, squeezing budgets and leaving many feeling vulnerable and frustrated. The latest government statistics showed the inflation rate in January rose to 29.9%, its highest since 1996.

    But there’s a safe haven in these turbulent times: the shelter of insurance.

    However, we must first understand the impact of inflation. Inflation, the sustained increase in the general price level of goods and services, silently erodes the value of your money. What you bought for ₦1000 today won’t cost the same tomorrow.

    While inflation may seem like an ‘econospeak’ or an abstract concept to the average person, its effect translates to real-life struggles. Imagine each Naira as a unit of your spending power; inflation, like a thief, steals value from these units, making everything from bread to building materials more expensive. This unpredictable thief adds another layer of worry, as sudden price spikes can leave you, businesses, and property owners exposed.

    The impact is felt by everyone:

    Individuals:

    Daily life becomes a struggle as the cost of living rises, squeezing budgets and creating anxiety.

    Businesses:

    Operational costs climb, potentially leading to higher prices or lower profits, impacting everyone along the chain.

    Property Owners:

    Repairing or replacing damaged property becomes even more expensive due to inflation, leaving you exposed financially.

    Now, unexpected events are stressful enough, but when combined with rising costs, they can become overwhelming. Imagine facing a sudden medical expense that is twice what it was last year.

    We at Coronation understand the worries inflation brings. That’s why we offer comprehensive insurance solutions designed to shield you from the financial blows of rising prices.

    INSURANCE: Your Inflation-Proof Shield

    Think of insurance as your umbrella deflecting the financial storm of inflation. Insurance serves as a strategic hedge, shielding individuals and businesses from unforeseen financial burdens due to inflationary pressures. Whether through life, health, or property insurance, these risk-mitigation tools provide a safety net. They assist policyholders in navigating economic uncertainties by offering financial support for medical expenses, property damages, or loss of income. Diversifying one’s financial strategy to include insurance helps not only protect assets but also fosters a sense of financial security amidst the dynamic economic landscape.

    01

    Here’s how Coronation’s insurance protects you in these uncertain times:

    Car Insurance

    Imagine your car suffers a breakdown or accident. Without insurance, repair costs, already inflated, can become crippling. Coronation’s Car insurance absorbs this financial blow, ensuring your vehicle gets back on the road quickly and affordably.

    Personal Accident Insurance

    An unexpected accident can have severe financial consequences, not just from medical bills but also lost income. Coronation’s Personal Accident insurance provides a lump sum payout to cover these costs, easing the burden during a challenging time.

    Travel Insurance

    Medical emergencies or travel disruptions abroad can be financially devastating. Coronation’s Travel insurance safeguards your trip, covering medical expenses, trip cancellations, and more, ensuring peace of mind wherever you roam.

    Home Insurance

    Rising repair costs due to inflation can turn a leaky roof or broken appliance into a major expense. Coronation’s Home insurance covers repairs and replacements, shielding your property and your budget from inflation’s bite.

    Life Assurance

    Life assurance ensures your loved ones are financially secure even if the unforeseen happens. With rising costs, life assurance becomes even more crucial, ensuring your family can maintain their lifestyle and future plans, even in your absence.

    At Coronation, we understand that insurance isn’t just a product; it’s a partnership in navigating financial security, especially during turbulent times like inflation. We go beyond simply offering policies; we offer expert guidance to understand your unique needs and risks, recommending the right coverage to effectively counter inflation’s impact.

    Worried about rising costs outpacing your insurance coverage? We offer inflation-adjusted policies that automatically adapt their sum insured to match inflation, ensuring your protection stays relevant as prices climb.

    Affordability is paramount in these challenging times. That’s why Coronation provides flexible payment options, making sure your insurance remains accessible even when budgets tighten.

    Contact a Coronation advisor today to explore how our comprehensive insurance solutions can shield you and your loved ones from the financial anxieties of rising prices.

    With Coronation, you’re not just insured; you’re empowered to face the future with confidence.

    To explore how our comprehensive insurance solutions can cater to your needs and those of your loved ones, please contact:

    https:/www.coronation.ng/products-solutions/insurance/

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  • Have you seriously been considering signing up for an insurance plan, but do not know which type is right for you?

    Take this quiz and we’ll give you a suggestion.

  • Seriously y’all.

    Health insurance is an important financial scheme that helps protect a person’s finances in the event of illnesses. However, Nigeria’s dearth of education about the subject has led to the perpetuation of myths and misconceptions about it, which is a major reason why a large number of people still don’t have one.

    The aim of this article is to dispel the many myths surrounding the concept of health insurance by giving you the tea on what is real and what isn’t.

    Let’s get into it.

    1. “No need to get insurance at a young age.”

    The hilariously terrible thing about the meat suit that houses your skeletons and organs is how fragile and susceptible it is to (external) damage. Not to be a downer but you’re not Superman, which means that your current youth and vitality isn’t going to matter if you get hit by a truck tomorrow and need to be hospitalized for proper treatment. This is why health insurance plans exist for all age groups.

    In fact, buying and renewing a health insurance policy at a young age is advised because it leads to higher sums and better claim experiences later in life (when you need it).

    2. “Getting health insurance indirectly means that I’m inviting illnesses into my life.”

    Look at it this way: If anthropomorphic illnesses (or some babalawo with a bag of illnesses) wanted to attack you, they wouldn’t wait till you got health insurance. They’d take a page out of Nike’s book and just do it.

    The idea of health insurance is to be prepared for any health problems that MIGHT occur.

    3. “My health insurance won’t cover all my medical conditions.”

    All health insurance companies have a list of all the medical conditions covered by each plan in the clauses section. Your insurance will cover whatever illness you’re getting treated for as long as it’s covered in the plan.

    4. “My health insurance won’t cover the full hospital bill.”

    Health insurance plans actually cover the full hospital bill, not part. If whatever you’re getting treatment for is covered on your plan, then your insurance will cover the full cost.

    5. “I will start enjoying the benefits of my health insurance from the moment I buy it.”

    Even though most health insurance plans have a waiting period of at least 30 days, some benefits can be enjoyed from scratch. However, this depends on agreements made before purchasing the plan. Accidents and emergencies aren’t the only things covered from scratch too.

    6. “My health insurance will cover all my pre-existing health conditions.”

    Health insurance policies generally cover pre-existing health conditions but only after a waiting period (which can range from 3 months – 4 years). The only requirement here is that the person discloses all their pre-existing conditions when buying the policy. A common example of this is pregnancies.

    7. “I’m going to get the cheapest health insurance possible because they’re all the same thing.”

    The best health insurance plans aren’t determined by their prices but by the benefits they offer. This also works the other way around. When presented with plans, don’t immediately go for the most expensive one because “it has to be the best, given its price.”

    These days, plans are designed to fit people’s lifestyle and budget so the most expensive might not necessarily be what fits you. For instance, there’s no need for you to get a family plan when you’re single and hustling. Just look around, you’ll most likely find something that fits.

  • “God go run am”

    We all know the only reason we put it in God’s hands is because we don’t know what to do again.

    “Any way na way”

    A Nigerian who has completely run out of ideas and is running of “God abeg”

    “I dey your back”

    This person is in fact, not at your back.

    “We move”

    When in fact, we’re both aware that we’re not going anywhere.

    “I’ll get back to you”

    If you ask someone for something and they tell you this, just move on. You’re not in their plans.

    “Let me know when you’re around”

    This should be the mantra for people who like to ghost others.

    “It is well”

    People only say this so you don’t have to face the fact that nothing is well and you’re in danger.

    “We gather dey”

    If anyone tells you this, be very much aware that you’re alone.

    It’s okay to run on vibes all the time, but not with your health. And that’s why you need to have health insurance for yourself and the people you love. MyCoverGenius lets you buy health insurance for yourself, your business, and the people in your life. For as little as ₦2,500 a month, you can access up to ₦1million in medical coverage, and all you need to is sign up on their website to get started.