Insurance Expert Exposes why Ghanaians take Loans for Funerals

In this powerful conversation, Benedictah Wugah—known throughout Ghana as the "Insurance Queen"—shares her heartrending journey from poverty to becoming a financial protection advocate. After losing her father to cancer with no insurance coverage, teenaged Benedictah was forced to become a "kayayo" (head porter) at Ghana's borders, facing exploitation and abuse just to pay for schooling. This personal trauma transformed into purpose as she dedicated her life to preventing others from suffering similar fates. "Most Ghanaians don't believe in insurance," Benedicta explains, addressing widespread misconceptions head-on. Many view policies as scams, bad omens, or luxuries for the wealthy. Yet with funeral costs averaging 50,000-60,000 cedis, families often resort to loans or deplete savings during their most vulnerable moments. Benedictah demystifies various insurance products—from pure life plans covering critical illness and death to endowment policies with investment components—explaining how coverage can be secured for as little as 3 cedis monthly. GUEST: Benedicta Wugah IG: https://www.instagram.com/benedicta_wugah/ FB: https://web.facebook.com/benedicta.wugah.2025 IG: https://www.linkedin.com/in/benedicta-wugah-62a5b3191/ Tel: 0249246575 HOST: Derrick Abaitey IG: https://www.instagram.com/derrick.abaitey/ Konnected Minds Live: https://forms.gle/24sKnqfAGjRx78sT6 Listen to the podcast on: Apple Podcast - http://tinyurl.com/4ttwbdxe Spotify - http://tinyurl.com/3he8hjfp Join this channel: /@konnectedminds FOLLOW ► https://linktr.ee/konnectedminds 0:00 Insurance Queen's Personal Struggle 3:00 From Poverty to Financial Consultant 7:09 The Traumatic Journey and Motivation 18:10 Understanding Life Insurance Benefits 25:54 Insurance for Young People 34:01 Funeral Costs and Financial Protection 45:14 Claims Process and Common Misconceptions 52:15 Final Thoughts and Life Lessons #podcast #ghanapodcasts #konnectedminds