Insurance for Ladies [analysis]

Mon. September 08, 2008; Posted: 08:07 AM

Kampala, Sep 08, 2008 (New Vision/All Africa Global Media via COMTEX) -- FRISF | Quote | Chart | News | PowerRating -- Today many ladies are acquiring wealthy. But lot of this wealth faces risk of damage, theft, or loss. In the event of such loss, ladies may not able to recover financially. A smart thing to do is to insure property with First Insurance Company under a special scheme for ladies.

The Ladies Insurance Protection Scheme is intended to cover for loss or damage of personal property belonging to ladies.

Mariam Mutalaga, First Insurance Company's operations manager, explained that there are many self sustaining ladies and single mothers in Uganda who possess property but are not insured.

"Many ladies rent apartments or own houses and possess expensive property like laptops, mobile phones, digital cameras, watches, necklaces but they are not insured," Mutalaga said.

"Thieves target houses where women live alone. In case of loss of property, where do you turn? We want you to run to this company," she observed, adding that 9 out of 10 mobile phones stolen in Luwum Street in Kampala belong to ladies.

For a small annual premium, ladies can take out insurance in two categories. There is the Ladies Insurance Protection Scheme for home owners and the Ladies Insurance for Motor Vehicles.

In the scheme for home owners the company makes an inventory (stock) of the value of the property such as furniture and electronics. This information is confidential between the lady and the company.

The motor vehicles scheme covers women involved in personal accidents in their cars. The company will pay the hospital bills incurred because of the accident and for the loss of a handbag and money which could be stolen at the accident scene.

This insurance scheme protects independent and career-oriented ladies who may be vulnerable to many risks due to lack of information or someone to look over their shoulder for them.

The scheme targets all ladies, regardless of age.

For full details for FRISF click here.

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