Topic: Insurance is important - page 22. (Read 4381 times)
In less developed countries, insurance is often not as highly valued. People there often do not trust insurance companies. They worry that insurance companies will refuse to pay compensation or it will take a long time to resolve claims. In addition, very few people understand insurance well. Even the story in my country, a woman living in an area that often floods every year. She bought home insurance but when the flood happened, she did not receive compensation. She had to repair the house herself, losing a lot of money. They really don't understand the nature of insurance and therefore think it is nothing more than a scam model
Maybe for some people it's hard, imagine it's already hard to meet their daily needs, let alone having to pay for insurance, and I see those who run the insurance business get a decent income from the customers they get.
for example, there are 100 thousand people who take insurance this month and they get a salary of a few percent of that, my question is, did those 100 thousand people experience a disaster during that month?
I said less than 1% of people experience disaster, so where does the money go, and how much money do they get after many years?
That's not how insurance works, you pay for it so you don't have to worry in case there's an emergency happening and you don't have the money to spend to help yourself at that time. It's not a waste of time but it definitely can look that way when you aren't experiencing bad things in your life, think of insurance as something that many disregard because they don't need it now but will regret not having it when the need comes to them. You have to be careful about picking the insurance though, you have to make sure that you aren't in one of those that will deny you in your time of need, most of the time, these kind of scummy insurance companies are private owned so be careful.for example, there are 100 thousand people who take insurance this month and they get a salary of a few percent of that, my question is, did those 100 thousand people experience a disaster during that month?
I said less than 1% of people experience disaster, so where does the money go, and how much money do they get after many years?
Insurance is really necessary for most of us, it's like saving money for emergencies and unexpected situations. But I agree with part of cryptoknight's comment, not everyone can afford to participate in those insurance programs. For developed countries, this is normal, but for developing and poor countries, it is very difficult for many people. Many households in my country have bought insurance for their children but they have not been able to maintain a regular budget and pay insurance on time. They breached their contracts with insurance companies and their money was not reimbursed by the insurance company. It can be said that if a family has the means, buying insurance is a good thing to do, but for families with economic difficulties, that is not possible.
It is so important to insure your home, car & valuables to protect yourself financially from unexpected events. Insurance provides coverage against damages, theft, accidents or as OP says natural disasters that can cause significant financial loss. Without insurance it’d be a disaster, you would have to bear the full cost of repairing or replacing your possessions. In case of an accident or injury, insurance also provides liability coverage, safeguarding you from potential lawsuits & legal expenses. By insuring your assets you get peace of mind knowing that you are financially protected & can recover from unforeseen circumstances effectively.
Maybe for some people it's hard, imagine it's already hard to meet their daily needs, let alone having to pay for insurance, and I see those who run the insurance business get a decent income from the customers they get.
for example, there are 100 thousand people who take insurance this month and they get a salary of a few percent of that, my question is, did those 100 thousand people experience a disaster during that month?
I said less than 1% of people experience disaster, so where does the money go, and how much money do they get after many years?
That's not how insurance works, you pay for it so you don't have to worry in case there's an emergency happening and you don't have the money to spend to help yourself at that time. It's not a waste of time but it definitely can look that way when you aren't experiencing bad things in your life, think of insurance as something that many disregard because they don't need it now but will regret not having it when the need comes to them. You have to be careful about picking the insurance though, you have to make sure that you aren't in one of those that will deny you in your time of need, most of the time, these kind of scummy insurance companies are private owned so be careful. for example, there are 100 thousand people who take insurance this month and they get a salary of a few percent of that, my question is, did those 100 thousand people experience a disaster during that month?
I said less than 1% of people experience disaster, so where does the money go, and how much money do they get after many years?
...
If you make money, get health insurance for you and your family, and insure your assets that are a source of income, businesses. Get a life insurance to secure your family's future.
There's a saying " hope for the best and plan for the worst".
If you make money, get health insurance for you and your family, and insure your assets that are a source of income, businesses. Get a life insurance to secure your family's future.
There's a saying " hope for the best and plan for the worst".
I did not value the importance of insurance until I saw a lot of occurrences and the whole thing changed my mindset about how important insurance is because if your life is insured then even your family will be financially secure that is the most important thing when you have family, and also insuring your assets is good because there should be any accident then you have the alternative to backup your business best advice insure anything that is insurable.
preparation for the future is a very important thing for everyone, I also realize that and will not be trivial about it. Even though insurance is important, in some areas, it will be very difficult for you to claim what is rightfully yours, so if you don't intend to have insurance then saving and investing is the wisest choice. every living human being needs preparation in order to be able to live his life in the future stably, in the past our ancestors understood the seasons, so they would prepare food in the summer in preparation for when winter came, problems would always come to humans, that cannot be rejected.
preparing for the future is just like preparing for rainy days when there are storms you have a cover and that cover is insurance, it might not be important to everybody but to me, it is very important because if you have a business for example and you did not secure it then if there is any disaster or any occurrence then were do you get money to start up but if your insured you have nothing to fear and I know you won't have access to the money paid to the insurance company but your investments are safe, and saving for a situation like this is not advisable because money is losing its value gradually. no matter the price of anything your insurance will cover you.
Maybe for some people it's hard, imagine it's already hard to meet their daily needs, let alone having to pay for insurance, and I see those who run the insurance business get a decent income from the customers they get.
for example, there are 100 thousand people who take insurance this month and they get a salary of a few percent of that, my question is, did those 100 thousand people experience a disaster during that month?
I said less than 1% of people experience disaster, so where does the money go, and how much money do they get after many years?
for example, there are 100 thousand people who take insurance this month and they get a salary of a few percent of that, my question is, did those 100 thousand people experience a disaster during that month?
I said less than 1% of people experience disaster, so where does the money go, and how much money do they get after many years?
We really need insurance if at any time something bad happens to us and our family. But of the many insurance companies that exist, we really have to choose them carefully. We have to do research and compare one insurance company with another insurance company. That's so we can get an insurance company that suits us.
Often we are trapped with insurance companies that only make promises to their customers. Still, when we want to use their insurance because something happens to us, they put forward complicated conditions. We must avoid this and that is why we must do more research.
In developing countries, not everyone can have insurance because they have difficulty surviving and meeting their daily needs. They don't think about having insurance but how to survive. This requires attention from the government so that it can provide solutions for those who are still at the bottom of the line.
Often we are trapped with insurance companies that only make promises to their customers. Still, when we want to use their insurance because something happens to us, they put forward complicated conditions. We must avoid this and that is why we must do more research.
In developing countries, not everyone can have insurance because they have difficulty surviving and meeting their daily needs. They don't think about having insurance but how to survive. This requires attention from the government so that it can provide solutions for those who are still at the bottom of the line.
In fact, it is very difficult for this insurance to reach all levels of society. Maybe in developed countries, insurance is widely used by all people and yes, it is really very useful. Because the average income in developed countries is quite high. But in lower developing countries, people even find it difficult to just earn a daily income and eat. So there is not enough money for them to pay insurance contributions. Because they even have difficulty leaving money to save and invest. Because most jobs in developing countries only pay fairly minimal salaries to their workers. So in essence, insurance is necessary for people who have a middle to upper level of life. But for lower level people, they actually also need it, but most of them don't even know and can't afford to pay the insurance bill. But in my country the lower level of society has been given convenience with free health facilities and the like. So even though poor people don't have insurance, they still won't worry about getting treatment and health. Because the state has borne it. But for the middle and upper class, they really have to have insurance for this.
Personally, I haven't gotten insurance for my business yet, but I'm thinking about it. Right now, my main goal is to save up so I can kickstart another business in a completely different field from what I'm doing now. Gotta keep those options open as we never know.
there is different levels of insurance
as a minimum for running a business... liability
its the legal costs if you or your product causes harm or loss to an employee, customer or guest
then there is buildings/contents insurance. but these can be at different levels. whether its fully inclusive or only contains one or more of:
accidents, arson, no fault fire, flood, storm, lightning, damage, theft, etc
Insurance is crucial, no doubt, but it's also smart to stash some cash for those unpredictable times. Plus, spreading your business across different areas is key to cutting down on risks. You can't just stick to one thing forever; it's better to explore possibilities and have a backup plan in case things get tough.
Personally, I haven't gotten insurance for my business yet, but I'm thinking about it. Right now, my main goal is to save up so I can kickstart another business in a completely different field from what I'm doing now. Gotta keep those options open as we never know.
Personally, I haven't gotten insurance for my business yet, but I'm thinking about it. Right now, my main goal is to save up so I can kickstart another business in a completely different field from what I'm doing now. Gotta keep those options open as we never know.
insurance is important.. but the correct insurance is more important
a story of a business lady who never experienced flood in 50 years would not pay a higher premium that has a "flood protection" add-on.. but then the flood happens and oops, still not covered.
many people pay basic insurance for false security and find out they dont qualify for a claim when the worse happens
get the RIGHT INSURANCE not just the basic insurance
the other option is to look at the costs of repair/replacement. and then look at the premium amount to insure. and calculate if its worth paying a premium or setting aside that amount as a 'emergency savings' pot to cover repairs
EG
a. if you know you can buy new flock of chickens and it takes 4 months to full grow them to sell.. for 1k
and renting a chicken coup for 4 months is 2k (total 3k to get back to work)
b. if rebuilding a coop for yourself is 15k and will take 6 months and ontop you pay 1k to get a flock of chickens
3k to be at a point of selling chickens in 4 months
vs
16k to be at a point of selling chickens in 10 months
work out is it better to pay premiums to insure the 16k cost. or put aside the premium amount into your own savings for emergency to cover 3k to get straight back to operating under rent
a story of a business lady who never experienced flood in 50 years would not pay a higher premium that has a "flood protection" add-on.. but then the flood happens and oops, still not covered.
many people pay basic insurance for false security and find out they dont qualify for a claim when the worse happens
get the RIGHT INSURANCE not just the basic insurance
the other option is to look at the costs of repair/replacement. and then look at the premium amount to insure. and calculate if its worth paying a premium or setting aside that amount as a 'emergency savings' pot to cover repairs
EG
a. if you know you can buy new flock of chickens and it takes 4 months to full grow them to sell.. for 1k
and renting a chicken coup for 4 months is 2k (total 3k to get back to work)
b. if rebuilding a coop for yourself is 15k and will take 6 months and ontop you pay 1k to get a flock of chickens
3k to be at a point of selling chickens in 4 months
vs
16k to be at a point of selling chickens in 10 months
work out is it better to pay premiums to insure the 16k cost. or put aside the premium amount into your own savings for emergency to cover 3k to get straight back to operating under rent
I don't know who needs to hear this but you need to get insurance if you have assets that are your source of income and it can be insurable. This may not mean much to a lot of folks in developed countries because they're familiar with it, but a lot (and I mean a lot) of people in underdeveloped countries don't care about insurance.
I've read stories of people who were okay financially going broke because they have spent all they had to treat an illness for themselves, their children, or loved ones. I'm not saying insurance is our personal lord and savior, but it can help you in tight situations.
Around November last year, I volunteered to join a local and small NGO that was taking food, drugs, and other supplies to flood victims.
For context of how big the flood was, we used speedboats on roads and it was as though we were on a high sea.
Experts gave lectures on how to prepare for a flood and not wait for it to be too late. Some of the people we met told their stories.
We met one woman whose case I found very interesting.
She had a farm; a fishery and a poultry farm. The poultry was much bigger than the fishery. The farm was so big and established it made her thousands of dollars monthly in gross income. The flood took her by surprise, she was able to rescue some feeds and animals, but she lost so much of it.
Now let's ignore the fact that she was careless for not believing the warnings that a very big flood was coming because, in her words "In my 56 years of being alive and my 17+ years of doing this business, I've never experienced the tiniest bit of flood"
Let's focus on the fact that neither her farm nor a single thing on the farm was insured despite generating that kind of income.
Because of the damage we saw, the NGO started a campaign for the government to help these farmers with grants and loans so they can get back on their feet (but y'all know how politics gets). This allowed us to visit this woman at her farm. She's back on her feet, but it could take years to get back to what she was before the flood.
If her farm was insured, it most likely wouldn't have taken her that long.
There are many more people like this. A cab driver loses his care and he's back to square one because that's his source of income. Others get an illness that is expensive to treat and they go broke trying to pay for the treatment.
A husband and father die unexpectedly and leave nothing behind, leaving the wife to struggle alone to take care of the children. This takes a family that was comfortably a middle-class family to a lower-class family.
If you make money, get health insurance for you and your family, and insure your assets that are a source of income, businesses. Get a life insurance to secure your family's future.
There's a saying " hope for the best and plan for the worst".
I've read stories of people who were okay financially going broke because they have spent all they had to treat an illness for themselves, their children, or loved ones. I'm not saying insurance is our personal lord and savior, but it can help you in tight situations.
Around November last year, I volunteered to join a local and small NGO that was taking food, drugs, and other supplies to flood victims.
For context of how big the flood was, we used speedboats on roads and it was as though we were on a high sea.
Experts gave lectures on how to prepare for a flood and not wait for it to be too late. Some of the people we met told their stories.
We met one woman whose case I found very interesting.
She had a farm; a fishery and a poultry farm. The poultry was much bigger than the fishery. The farm was so big and established it made her thousands of dollars monthly in gross income. The flood took her by surprise, she was able to rescue some feeds and animals, but she lost so much of it.
Now let's ignore the fact that she was careless for not believing the warnings that a very big flood was coming because, in her words "In my 56 years of being alive and my 17+ years of doing this business, I've never experienced the tiniest bit of flood"
Let's focus on the fact that neither her farm nor a single thing on the farm was insured despite generating that kind of income.
Because of the damage we saw, the NGO started a campaign for the government to help these farmers with grants and loans so they can get back on their feet (but y'all know how politics gets). This allowed us to visit this woman at her farm. She's back on her feet, but it could take years to get back to what she was before the flood.
If her farm was insured, it most likely wouldn't have taken her that long.
There are many more people like this. A cab driver loses his care and he's back to square one because that's his source of income. Others get an illness that is expensive to treat and they go broke trying to pay for the treatment.
A husband and father die unexpectedly and leave nothing behind, leaving the wife to struggle alone to take care of the children. This takes a family that was comfortably a middle-class family to a lower-class family.
If you make money, get health insurance for you and your family, and insure your assets that are a source of income, businesses. Get a life insurance to secure your family's future.
There's a saying " hope for the best and plan for the worst".
It's not only good advice, sometimes it is downright mandatory and written into contracts. Like if you take out a mortgage or a large business loan, you will often be required to insure it against catastrophic loss, because the bank also wants to be sure that the asset they are funding will be covered in the worst case scenario. It can be tricky when you get into more tailored insurance, like income insurance, when determining whether it is the right choose. Most people will go through their 20's without any need for things like that, as the amount they are earning can often be low, however once you get into your 30's and beyond there are lots of dangers out there like redundancy or health risks, which get more important to protect against financially.
...
If you make money, get health insurance for you and your family, and insure your assets that are a source of income, businesses. Get a life insurance to secure your family's future.
There's a saying " hope for the best and plan for the worst".
If you make money, get health insurance for you and your family, and insure your assets that are a source of income, businesses. Get a life insurance to secure your family's future.
There's a saying " hope for the best and plan for the worst".
preparation for the future is a very important thing for everyone, I also realize that and will not be trivial about it. Even though insurance is important, in some areas, it will be very difficult for you to claim what is rightfully yours, so if you don't intend to have insurance then saving and investing is the wisest choice. every living human being needs preparation in order to be able to live his life in the future stably, in the past our ancestors understood the seasons, so they would prepare food in the summer in preparation for when winter came, problems would always come to humans, that cannot be rejected.
Having insurance can only waste money in the long run, and our money will only be wasted paying for insurance every month.
Because in fact when I take health insurance and I pay every month. When I fell ill and went straight to the hospital to be treated, it turned out that the treatment given to patients who used insurance was not optimal and excellent, it was different from when I paid directly to the hospital, the service was so fast and excellent, I didn't even have to queue too long to get it. can get care and treatment at the hospital.
we can have insurance but not health. So the most important thing is, take care of your health and make as much money as possible.
Many people think like that where they rather than paying for insurance every month then it is better to use the money for other purposes, maybe that word we often hear but there is good insurance is important especially for our health, what if we can't make money anymore? Of course this will be complicated and you will run out of money because too many treat you for so long.Because in fact when I take health insurance and I pay every month. When I fell ill and went straight to the hospital to be treated, it turned out that the treatment given to patients who used insurance was not optimal and excellent, it was different from when I paid directly to the hospital, the service was so fast and excellent, I didn't even have to queue too long to get it. can get care and treatment at the hospital.
we can have insurance but not health. So the most important thing is, take care of your health and make as much money as possible.
For insurance services depends on each country because it is different, sometimes in insurance there is an upper class and a lower class, if you choose the lower class maybe the service will be like that, but I'm sure not all like that because some countries serve well when you go to the hospital, with the insurance they use.
I think insurance is important because people are lazy to spend money so they don't do this, but if you don't like this method, maybe you can create a special reserve fund for your health.
I couldn't agree more. As a financial advisor this is of course a topic that comes up a good bit in my practice. I am starting to see a "self-insure", "insurance is a waste of money" type of movement. Sort of like there is with college and people calling it a waste of time and money.
Insurance is extremely important. I've used my health and auto-insurance countless times. Had I not had it, I'd have built up a great deal of debt. Another example is having bought my mother LTC (long term care insurance) some years back. I knew her future health wouldn't be the greatest and unfortunately she is not quite sick, and has been for several years. Thank god for the LTC insurance as it's more than paid for itself.
It's all about the situation, the costs etc..but to flat out say insurance isn't necessary is to be ignorant.
You wont really be seeing its importance until its there, people would really be just telling into themselves that they should have acquire it into those times that they are really that seeing that they would really be needing it.Insurance is extremely important. I've used my health and auto-insurance countless times. Had I not had it, I'd have built up a great deal of debt. Another example is having bought my mother LTC (long term care insurance) some years back. I knew her future health wouldn't be the greatest and unfortunately she is not quite sick, and has been for several years. Thank god for the LTC insurance as it's more than paid for itself.
It's all about the situation, the costs etc..but to flat out say insurance isn't necessary is to be ignorant.
It is really just that people would really be seeing its importance on this case on which its already too late. Just like the rest been saying on various situations about its importance. It is really just that highly been ignored
or reject out because most people do say that it is really just that an add up expenses but it is really that totally helpful on the time that you would really be able to experience such situation.
Just like for example not only limited to health insurance but also in vehicle on which its true that if you havent able to get one and since accidents is something that cant really be known on when to
happen then it would really be able to save up your ass when it comes to repair cost because if you dont have that insurance then get prepared on repairing your car
with full cost out of your own money and might really be giving out such huge impact into your finances then this is where you would make those realizations that you must get one.
I don't know who needs to hear this but you need to get insurance if you have assets that are your source of income and it can be insurable. This may not mean much to a lot of folks in developed countries because they're familiar with it, but a lot (and I mean a lot) of people in underdeveloped countries don't care about insurance.
I've read stories of people who were okay financially going broke because they have spent all they had to treat an illness for themselves, their children, or loved ones. I'm not saying insurance is our personal lord and savior, but it can help you in tight situations.
Around November last year, I volunteered to join a local and small NGO that was taking food, drugs, and other supplies to flood victims.
For context of how big the flood was, we used speedboats on roads and it was as though we were on a high sea.
Experts gave lectures on how to prepare for a flood and not wait for it to be too late. Some of the people we met told their stories.
We met one woman whose case I found very interesting.
She had a farm; a fishery and a poultry farm. The poultry was much bigger than the fishery. The farm was so big and established it made her thousands of dollars monthly in gross income. The flood took her by surprise, she was able to rescue some feeds and animals, but she lost so much of it.
Now let's ignore the fact that she was careless for not believing the warnings that a very big flood was coming because, in her words "In my 56 years of being alive and my 17+ years of doing this business, I've never experienced the tiniest bit of flood"
Let's focus on the fact that neither her farm nor a single thing on the farm was insured despite generating that kind of income.
Because of the damage we saw, the NGO started a campaign for the government to help these farmers with grants and loans so they can get back on their feet (but y'all know how politics gets). This allowed us to visit this woman at her farm. She's back on her feet, but it could take years to get back to what she was before the flood.
If her farm was insured, it most likely wouldn't have taken her that long.
There are many more people like this. A cab driver loses his care and he's back to square one because that's his source of income. Others get an illness that is expensive to treat and they go broke trying to pay for the treatment.
A husband and father die unexpectedly and leave nothing behind, leaving the wife to struggle alone to take care of the children. This takes a family that was comfortably a middle-class family to a lower-class family.
If you make money, get health insurance for you and your family, and insure your assets that are a source of income, businesses. Get a life insurance to secure your family's future.
There's a saying " hope for the best and plan for the worst".
I've read stories of people who were okay financially going broke because they have spent all they had to treat an illness for themselves, their children, or loved ones. I'm not saying insurance is our personal lord and savior, but it can help you in tight situations.
Around November last year, I volunteered to join a local and small NGO that was taking food, drugs, and other supplies to flood victims.
For context of how big the flood was, we used speedboats on roads and it was as though we were on a high sea.
Experts gave lectures on how to prepare for a flood and not wait for it to be too late. Some of the people we met told their stories.
We met one woman whose case I found very interesting.
She had a farm; a fishery and a poultry farm. The poultry was much bigger than the fishery. The farm was so big and established it made her thousands of dollars monthly in gross income. The flood took her by surprise, she was able to rescue some feeds and animals, but she lost so much of it.
Now let's ignore the fact that she was careless for not believing the warnings that a very big flood was coming because, in her words "In my 56 years of being alive and my 17+ years of doing this business, I've never experienced the tiniest bit of flood"
Let's focus on the fact that neither her farm nor a single thing on the farm was insured despite generating that kind of income.
Because of the damage we saw, the NGO started a campaign for the government to help these farmers with grants and loans so they can get back on their feet (but y'all know how politics gets). This allowed us to visit this woman at her farm. She's back on her feet, but it could take years to get back to what she was before the flood.
If her farm was insured, it most likely wouldn't have taken her that long.
There are many more people like this. A cab driver loses his care and he's back to square one because that's his source of income. Others get an illness that is expensive to treat and they go broke trying to pay for the treatment.
A husband and father die unexpectedly and leave nothing behind, leaving the wife to struggle alone to take care of the children. This takes a family that was comfortably a middle-class family to a lower-class family.
If you make money, get health insurance for you and your family, and insure your assets that are a source of income, businesses. Get a life insurance to secure your family's future.
There's a saying " hope for the best and plan for the worst".
In as much as it's of utmost importance we insure our investment or important properties, don't also forget that the lady has been in business for almost two decades, you wouldn't blame her for doubting that there will be flood, because she hasn't experienced it before.
I believe for everything there is a first time experience, going forward she must have learned lesson. But most times insuring some of these business can be very expensive especially for starter business.
This insurance is actually important and not important. And an wise person will definitely prepare everything, including his future and other things. And we will never know when we will get sick, nor when we will die.
If we are not good enough at managing finances, then the presence of this insurance is a pretty good solution. because the presence of insurance will help us to prepare for everything, such as possible risks and also help us to prepare for our and our family's future. However, if you have good financial management, then I recommend not using insurance.
And in closing, if you decide to use insurance, I just advise you to be careful in sorting and choosing the insurance company you want to use, because currently there are many irresponsible insurance companies, which do not provide the rights of the insured in the company. the insurance.
If we are not good enough at managing finances, then the presence of this insurance is a pretty good solution. because the presence of insurance will help us to prepare for everything, such as possible risks and also help us to prepare for our and our family's future. However, if you have good financial management, then I recommend not using insurance.
And in closing, if you decide to use insurance, I just advise you to be careful in sorting and choosing the insurance company you want to use, because currently there are many irresponsible insurance companies, which do not provide the rights of the insured in the company. the insurance.
There are different types of insurance and they work in different ways. However, insurances often work in times of danger. So insurance is very important for us. But there are many who don't like it. But in reality insurance is very beneficial
. Life Insurance
. Health Insurance
. Investment Insurance
I think the importance of these three is very high. These reduce our financial risk a lot. And bad times will support us a lot. So I think everyone should take the services of these insurances
. Life Insurance
. Health Insurance
. Investment Insurance
I think the importance of these three is very high. These reduce our financial risk a lot. And bad times will support us a lot. So I think everyone should take the services of these insurances
I don't know who needs to hear this but you need to get insurance if you have assets that are your source of income and it can be insurable. This may not mean much to a lot of folks in developed countries because they're familiar with it, but a lot (and I mean a lot) of people in underdeveloped countries don't care about insurance.
For some small people, entering insurance is not an option because when we choose insurance, a monthly fee is definitely required as a condition that we must fulfill. The question is why enter insurance if the monthly income for small people is unclear and it is difficult to even meet their food needs. Insurance is needed when you have a clear and regular source of income because it can help protect against unexpected things happening.I've read stories of people who were okay financially going broke because they have spent all they had to treat an illness for themselves, their children, or loved ones. I'm not saying insurance is our personal lord and savior, but it can help you in tight situations.
There are various types of insurance nowadays and when people who have good financial capabilities do not take part in insurance, it is very unfortunate because when things happen as you explained, they will be at a great loss. I know several types of insurance that have existed in my country, one of which is?1. Life Insurance
2. Health Insurance
3. Education Insurance
4. Investment Insurance
5. Vehicle Insurance
6. Accident Insurance
To enter these six insurances, you have to pay a monthly fee as a mandatory requirement because this is what makes some people feel burdened Because not everyone has a fixed income and if they don't have an income then it is impossible to afford the monthly expenses. If people have a good source of income, then insurance is the right choice because it can protect health, education and damages costs when unexpected things happen.
You are right in pointing out that fees have to be regularly paid inorder to maintain a good insurance plan.
Those with white collar jobs are easily opened to such schemes because most times these insurance companies propose or present offers that is better suited to those with a steady source of income.
The best bet we have these days and see as insurance for the future is HODLing BTC or other forms of cryptocurrency to cover unexpected expenses that range from health hazards to emergencies.
The thing is money doesn't work the same way for everyone. Losing $1000 might not hurt too much for most people, but losing $100,000 could mean selling your house, selling your cars, quitting school, or getting another job. The effect on your life is way more than just 100 times the difference between the two amounts. This is the reason why insurance is important. Instead of you losing so much you could gradually settle those things with time even if you have to pay more to the insurance company for there services, its better than pulling such an amount at a time for life issues.
I don't know who needs to hear this but you need to get insurance if you have assets that are your source of income and it can be insurable. This may not mean much to a lot of folks in developed countries because they're familiar with it, but a lot (and I mean a lot) of people in underdeveloped countries don't care about insurance.
For some small people, entering insurance is not an option because when we choose insurance, a monthly fee is definitely required as a condition that we must fulfill. The question is why enter insurance if the monthly income for small people is unclear and it is difficult to even meet their food needs. Insurance is needed when you have a clear and regular source of income because it can help protect against unexpected things happening.I've read stories of people who were okay financially going broke because they have spent all they had to treat an illness for themselves, their children, or loved ones. I'm not saying insurance is our personal lord and savior, but it can help you in tight situations.
There are various types of insurance nowadays and when people who have good financial capabilities do not take part in insurance, it is very unfortunate because when things happen as you explained, they will be at a great loss. I know several types of insurance that have existed in my country, one of which is?1. Life Insurance
2. Health Insurance
3. Education Insurance
4. Investment Insurance
5. Vehicle Insurance
6. Accident Insurance
To enter these six insurances, you have to pay a monthly fee as a mandatory requirement because this is what makes some people feel burdened Because not everyone has a fixed income and if they don't have an income then it is impossible to afford the monthly expenses. If people have a good source of income, then insurance is the right choice because it can protect health, education and damages costs when unexpected things happen.
You are right in pointing out that fees have to be regularly paid inorder to maintain a good insurance plan.
Those with white collar jobs are easily opened to such schemes because most times these insurance companies propose or present offers that is better suited to those with a steady source of income.
The best bet we have these days and see as insurance for the future is HODLing BTC or other forms of cryptocurrency to cover unexpected expenses that range from health hazards to emergencies.
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