Topic: Insurance is important - page 8. (Read 2313 times)

In my country, this is the common thought about any type of insurance.
"I'm still strong, why I need one?"
"I'm young why do I need to avail?"
"I'm far from dying"
You know these common thoughts of every countryment that we have and I am one of them but that's before. I've changed my mind as I get older and I started to understand things like this and have seen people and family struggled because they have never come prepared for their death.

It's not possible for people with average income to get into insurance because it has no meaning and that's why Op emphasize on those making money and have properties that are insurable. You can see that from the part of his post I quoted below. If to register for insurance is free and open for everyone, everybody will rush to register for it but as an average man struggling to feed three square meals, what are you insuring? Some can not even afford the first registration fee not to talk of monthly due. Insurance is only favorable to those who have enough money and properties that are worthy of reasonable amount in order to avoid great lose in case of any disaster or predicament occurring in the future.

I have the same opinion with you many insurance companies become scam and easily run away how much user money without responsibility yet although we are joining with government insurance. In my country have government insurance with saving protect but when collapse they are not refund yet and many of the CEO and staff take much money until under rest.

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 am someone who is quite against insurance and considers it a way to waste money without being able to get commensurate benefits other than being profitable for the insurance company.
For health insurance, I am lucky enough to live in a country that provides guaranteed treatment for sick citizens even though they have to go through many procedures, but that's better than having to pay routine insurance costs which also take time to be able to claim it, and in my opinion using the money we have by investing is much better than having insurance because I saw several friends who actually lost a lot of money in insurance because it couldn't be claimed but maybe it would be different in other countries, just seeing what happened to my colleagues made me not consider insurance as important compared to investing.

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 makes a lot of sense to insure our basic needs, especially if we live in a country where there is no protection scheme to provide security for our family. Health insurance should be the first insurance we take out, because we never know what kind of illness we might face in life. Same goes for life insurance, if our family relies heavily on our income that we need to think of the worst case scenario. The problem in my country is that there is insurance for everything and the financial analyst earns a lot of commission for every new contract being signed. It's really hard to find the optimal level of insurance, because the sales people will always try to offer the premium package first. A lot of my friends are to,more than a 100% insured, which costs them a lot every month.

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.

Developed countries are more familiar with insurance because the majority of the population has relatively high incomes and can afford to buy goods at high prices and are certainly worth insuring. It is different from developing countries because the majority of the population's income is still relatively low and cannot afford to buy high-priced goods. I know that insurance does not look at the price of the goods insured, but in reality, most only high-priced goods have insurance.

It is, but not for everyone since others can't just afford it.

If you're making a more than enough money in your job, then getting an insurance, whatever kind of insurance that you need is a good move for the long run. It will save you from an emergency when you need it. However, not all insurances offer the same services, others are just going to give you headache when you want to get it, because for example, someone in your family died or got in an accident, which cover in your insurance.

because this case in lower developing countries is very difficult to implement, because they have low incomes, people only have enough to pay for their living needs, and they are lucky if they still have a little left to save.
I think the economy of a region or country will be improved first, then people will be able to use insurance.

It is, but not for everyone since others can't just afford it.

If you're making a more than enough money in your job, then getting an insurance, whatever kind of insurance that you need is a good move for the long run. It will save you from an emergency when you need it. However, not all insurances offer the same services, others are just going to give you headache when you want to get it, because for example, someone in your family died or got in an accident, which cover in your insurance.

Not all insurance companies are honest. We constantly hear of dishonesty and malpractice, right? This shows that humans often put self-interest before ethics. It illustrates the delicate relationship between morality, profit, and survival in business. In many situations, insurance firms have provided support. Doesnt it show the industry's capacity for good?

Many share your concern about insurance's bad-over-good ratio. Is this perception a result of unfavorable media coverage and selective attention? Psychologists call this the negativity bias - focusing on the bad rather than the good. Recognizing this makes insurance provider selection more objective. We must examine, understand, and adapt policies to our needs. This strategy seems more balanced than relying on universal distrust to manage the insurance world.

It is, but not for everyone since others can't just afford it.

If you're making a more than enough money in your job, then getting an insurance, whatever kind of insurance that you need is a good move for the long run. It will save you from an emergency when you need it. However, not all insurances offer the same services, others are just going to give you headache when you want to get it, because for example, someone in your family died or got in an accident, which cover in your insurance.

In my country insurance is bad company and have two top legal and trusted insurance have been collapse without responsibility for user get their money refund. Actually I am not agree have to protect with all investment assets with insurance and looks healthy insurance is realistic right depend how much cost when we get treatment. All hospital have been connected with many kinds of healthy insurance but the other kinds of insurance look not urgent and focus with healthy insurance only if you have not good financial condition.

I have the same opinion with you many insurance companies become scam and easily run away how much user money without responsibility yet although we are joining with government insurance. In my country have government insurance with saving protect but when collapse they are not refund yet and many of the CEO and staff take much money until under rest.

If we are given the opportunity, then we should also make use of it to insure ourselves and the properties we have, the general approach many have towards this is that they believe that those that should to on insurance should be those that have alot of properties assets because they will have the required financial stand to pay in for the service and also benefited from using it, but if there are low level insurance for the average individuals, then we can also go in for them and have ourselves insured together with our belongings.