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Why insurance policy is not common in the third world countries.
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[QUOTE="btaliat, post: 139203, member: 26390"] Insurance is one of the financial words that is mostky used. Though it is most used, most people don't involve in insurance especially people of the third world countries. There are many reasons why people of the third world don't take insurance policy serious as it should be taken. Below are the reasons. Misconception: most people do think insurance is for the rich people. Research has revealed that most average people don't really like engaging themselves in insurance because they see it as rich men policy. Non availability of insurance companies: I have gone so many threads on insurance and I noticed that most insurance companies listed are from the advanced countries. This has made it impossible for people to partake much in insurance policy. High premium : the premium expected to be paid to these insurance companies are too high most time. They charge exorbitant fee which makes some people to even conclude it is truly for the rich. [/QUOTE]
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Why insurance policy is not common in the third world countries.
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