Life Insurance and Blockchain - page 4.

Rosilito

sr. member

Activity: 658

Merit: 274

Wish for the rain? Then deal with the mud too.

Quote from: Sanitough on July 31, 2020, 02:16:09 AM

Quote from: ?? on ??

in my own analysis cryptocurrency is your real insurance aside from that, your investment can grow anytime.

Insurance company using cryptocurrency, I think that will grow only if the market will be stable in general.
Any projects would suffer if bitcoin is not stable, if bitcoin will dump the rest will be affected, that's why the market works for now, so even if how good the purpose of the project is, but bitcoin is not progressive, I doubt it will succeed.

Yep, and that's why I am quite skeptical on this idea. Isn't it the purpose of this insurance thing is to support/secured future circumstances, and when the needing of it comes, it'll make the beneficiaries secured financially. And bringing in btc as an option, well, it might help on the other hand but you cannot exclude the fact that the price of it may go sideways. Worse case scenario is, you would possibily get a little amount in which you might not be able to use it for its exact purpose Undecided

.

Nonetheless, still a good idea though, I am just worried on the other possibilities.

kateycoin

full member

Activity: 882

Merit: 104

I think it will be risky to invest life insurance in crypto,we know how volatile crypto market. Investing in decentralized dont have assurance that it will grow and its risky.Many things you need to consider before you investing in life insurance even how project is good. Think 10 times before that.

Sanitough

hero member

Activity: 2856

Merit: 674

Quote from: ?? on ??

in my own analysis cryptocurrency is your real insurance aside from that, your investment can grow anytime.

Insurance company using cryptocurrency, I think that will grow only if the market will be stable in general.
Any projects would suffer if bitcoin is not stable, if bitcoin will dump the rest will be affected, that's why the market works for now, so even if how good the purpose of the project is, but bitcoin is not progressive, I doubt it will succeed.

However, since they use cryptocurrency, I would like to assume that they believe in crypto, especially bitcoin which is the most dominant coin in the market, so they are building their projects here, what will happen in the future is that this space will be filled with good project with different purpose to serve, so this is actually a good investment.

imstillthebest

full member

Activity: 1638

Merit: 122

Quote from: ?? on ??

I agree to invest in life insurance using cryptocurrency now as technology advances because it can help brighten our future no one can say when the crypto market will not be stable but life insurance for a certain period of time will help us increase the amount of money.

it does not brighten your future but infact we are talking about your life here specifically when you are in great danger . your not happy when your suffering unless you do want to die but using crypto to pay for insurance is a perfect tandem because of how advance our technology now .

using the old system of paying is too basic and shows that people arent improving . crypto market are never stable but there are people that wont mind this because they can still do the things they wanted to do

so98nn

hero member

Activity: 2100

Merit: 603

Surely it is vital part of our life these days. I mean you never know what things will come up in your day's basket an accident, long lasting illness, death etc. Considering the today's lifestyle things are messy and we may not bear the health issues that properly as people used to do back in the days. They used to live longer, healthier and always had death zones in the late 90's age.

It's alarming these days this rate has reduced almost to 60 years old. It's better to get insured with these claims and load some of the financial stuff onto these companies.

It does make you loose money in the process since you dont get ill every year and you don't die every year (!). But still having it is important part.

I like the idea of investing with crypto currencies but for that the whole infra of insurance company will need to run on crypto assets. I don't think lot of people will become attracted to it in the first place as it's money matter and only person who knows crypto will invest in that way.

Rodeo02

hero member

Activity: 1302

Merit: 577

avatar and signature space for rent !!!

Quote from: ?? on ??

I agree to invest in life insurance using cryptocurrency now as technology advances because it can help brighten our future no one can say when the crypto market will not be stable but life insurance for a certain period of time will help us increase the amount of money. However before insuring in these companies, you have to check it well the role of insurance is important to meet daily needs.

In terms of insurance I still preferred the old way of investing in it. Its too early to have it in crypto space I mean we don't really know how secure it is and it is international so it will hard for other to claim that insurance came from other country .

Its good try but its need to be available first in different country and have many office in many ditty in that way many people will be interested join and have idea how they can receive the insurance if ever the family need it.

Kong Hey Pakboy

member

Activity: 1120

Merit: 68

Quote from: ?? on ??

I agree to invest in life insurance using cryptocurrency now as technology advances because it can help brighten our future no one can say when the crypto market will not be stable but life insurance for a certain period of time will help us increase the amount of money. However before insuring in these companies, you have to check it well the role of insurance is important to meet daily needs.

From my point of view, investing in your life insurance using cryptocurrency can be helpful to your family for them not to have any problems financially when you die. But you still need to assure that project is legitimate before investing in life insurance because it will be a waste of money if they will not provide the insurance after you die.

Lorence.xD

sr. member

Activity: 1624

Merit: 315

Leading Crypto Sports Betting & Casino Platform

Quote from: Wapfika on July 28, 2020, 10:04:37 PM

Quote from: carlisle1 on July 28, 2020, 02:53:45 AM

I Disagree,because even people with limited budget will have insurance because of the Virus.
Imagine the threat in our life now.

Many were buying Health insurance this days, those who really see the importance of life insurance will try to acquire life insurance for their families, life is uncertain now but having life insurance especially this time of Pandemic should be a priority but not to those who have lost their job since their priorities is their everyday essentials. I do hope people who don't believe in life insurance will still try to secure having their own life insurance with health coverage even this Pandemic only,there are term insurance that are cheaper and affordable now.

Not everyone from every country can't afford a life insurance even if they want to, some government backed insurance in my country is very inefficient because there are a lot of delays because of bureaucratic paper works and the salary cuts are so big that it outweighs its long term benefits because people will be using the insurance as a way to sustain their living. In my country, the cost of living is too high and not everyone have the financial knowledge to invest in life insurance, plus most of the working force is in contractual rather than regular so most of them do not get that much working benefits.

Cryptocurrency based life insurance is a good innovation but there is still an elephant in the room that we need to talk about and that is adoption and how do we circulate the cryptocurrency that is contributed by our member so they can get the compound interest when they come at the age of retirement, insurance is very complicated in my opinion, but this has a potential if we have adressed the problems that hinder this innovation.

TIDOVEE

sr. member

Activity: 1246

Merit: 255

It is a very good concept having an insurance on blockchain, provided the wallet can be so secured against fraud. The first thing I had to consider was,was there issues with the well known insurance organizations all around. If there is none, it is not a bad idea bringing up a new innovation but presently we are protecting our wallet by all means and hackers have never stopped hunting and invading into accounts.i feel it would be more helpful in time like this that so many people has lost their jobs but just the security of the wallet is my concern.

Kasabus

hero member

Activity: 2814

Merit: 576

Quote from: Wapfika on July 28, 2020, 10:04:37 PM

Quote from: carlisle1 on July 28, 2020, 02:53:45 AM

I Disagree,because even people with limited budget will have insurance because of the Virus.
Imagine the threat in our life now.

Many were buying Health insurance this days, those who really see the importance of life insurance will try to acquire life insurance for their families, life is uncertain now but having life insurance especially this time of Pandemic should be a priority but not to those who have lost their job since their priorities is their everyday essentials. I do hope people who don't believe in life insurance will still try to secure having their own life insurance with health coverage even this Pandemic only,there are term insurance that are cheaper and affordable now.

Investing in life insurance imo is really essential since it will help us become more prepared especially in those times of difficulties that we will be facing in our old years. But investing in it using crypto gives more advantage as it can be more transparent for us to monitor our investment just like we are only keeping it in our own bank. Though its quite hard to make it in this time of pandemic but at least we should still consider it as an essential one.

Wapfika

hero member

Activity: 1288

Merit: 564

Bitcoin makes the world go 🔃

Quote from: carlisle1 on July 28, 2020, 02:53:45 AM

I Disagree,because even people with limited budget will have insurance because of the Virus.
Imagine the threat in our life now.

Many were buying Health insurance this days, those who really see the importance of life insurance will try to acquire life insurance for their families, life is uncertain now but having life insurance especially this time of Pandemic should be a priority but not to those who have lost their job since their priorities is their everyday essentials. I do hope people who don't believe in life insurance will still try to secure having their own life insurance with health coverage even this Pandemic only,there are term insurance that are cheaper and affordable now.

carlisle1

hero member

Activity: 2744

Merit: 541

Campaign Management?"Hhampuz" is the Man

Quote from: davis196 on July 20, 2020, 02:53:35 AM

I have nothing against the implementation of blockchain technology and cryptocurrency payments in the Life insurance industry.
However,I highly doubt that the blockchain technology will reduce or prevent the cases of insurance fraud.
Technology can't replace humans,when it comes to investigating insurance fraud cases.

Fraud is Part of every insurance policy because it has been issue for long,My mother is a former insurance agent and she keeps
telling me about the assurance of company before you use their company.
But at least using Block chain will lessen the Fraud.

Quote from: Wapfika on July 28, 2020, 02:00:41 AM

Quote from: Axelseseclevz on July 27, 2020, 03:16:25 PM

Life insurance is very important especially this time of health crisis caused by covid 19 virus. But i think, only the those with enough savings now can afford to invest in life insurrance. Our life now is very difficult and our priority is our foods and other daily necessities and set aside those other things that cannot afford with our budget.

Unfortunately, those who have capabilities and those who have money and stable job are the only able to have insurance, but in my country those who have atleast a job trying to save for life insurance even the cheaper one since hospitalization is too high in my country. It can be just a matter of discipline and how they prioritise spending to those who have income.

I Disagree,because even people with limited budget will have insurance because of the Virus.
Imagine the threat in our life now.

Wapfika

hero member

Activity: 1288

Merit: 564

Bitcoin makes the world go 🔃

Quote from: Axelseseclevz on July 27, 2020, 03:16:25 PM

Life insurance is very important especially this time of health crisis caused by covid 19 virus. But i think, only the those with enough savings now can afford to invest in life insurrance. Our life now is very difficult and our priority is our foods and other daily necessities and set aside those other things that cannot afford with our budget.

Unfortunately, those who have capabilities and those who have money and stable job are the only able to have insurance, but in my country those who have atleast a job trying to save for life insurance even the cheaper one since hospitalization is too high in my country. It can be just a matter of discipline and how they prioritise spending to those who have income.

Axelseseclevz

jr. member

Activity: 313

Merit: 1

Life insurance is very important especially this time of health crisis caused by covid 19 virus. But i think, only the those with enough savings now can afford to invest in life insurrance. Our life now is very difficult and our priority is our foods and other daily necessities and set aside those other things that cannot afford with our budget.

ChiBitCTy

legendary

Activity: 2282

Merit: 3014

I work in the financial space and life insurance has been a product I've worked a lot with as well as am quite familiar of the ins and outs. I had no idea that these companies offered life insurance via bitcoin/cryptocurrency. These are pretty solid companies as well. At least Allianz and MetLife whom I'm familiar with.

FYI for anyone interested in the Life Insurance aspect and might be buying some sometime soon- unless you're very wealthy buy term life. Whole life insurance is only for those with great wealth. The other types of life insurance ( index, variable etc ) can be useful but in most situations are not.

Wapfika

hero member

Activity: 1288

Merit: 564

Bitcoin makes the world go 🔃

Quote from: yhiaali3 on July 27, 2020, 03:41:10 AM

Life insurance is very important, especially at this time with the spread of Corona virus around the world and the death of hundreds of thousands of people as a result of this epidemic. Of course, the situation has become dangerous and the life of every human being is threatened at any moment. Therefore, life insurance has become a major necessity now.
Unfortunately, this culture is not widespread here in my country, in a country where wars and famine are widespread and hundreds of people die or killed daily. This is not a big problem for the government or the insurance company. What is the difference if another one dies?

Dying seems normal in these days, but we must survive can be with the help of our claims from health insurance or the people who might left here must survive, and the Life Insurance can help us. As long as we know the company we buy our policies as well depending on how the government treats their people we should prioritise having insurance especially this time of Covid.

yhiaali3

legendary

Activity: 1848

Merit: 1982

Fully Regulated Crypto Casino

Life insurance is very important, especially at this time with the spread of Corona virus around the world and the death of hundreds of thousands of people as a result of this epidemic. Of course, the situation has become dangerous and the life of every human being is threatened at any moment. Therefore, life insurance has become a major necessity now.
Unfortunately, this culture is not widespread here in my country, in a country where wars and famine are widespread and hundreds of people die or killed daily. This is not a big problem for the government or the insurance company. What is the difference if another one dies?

verita1

member

Activity: 1358

Merit: 81

A life insurance that is based on Blockchain can be useful for our community just now. On the one hand we feel optimistic that we are digitizing the industry to improve services. Because due to the crisis to access these services it would be faster and more efficient with the blockchain implement.

sunno330

full member

Activity: 406

Merit: 100

homt.net

Insurance always don't support you . Insurance is the future investment and it is also make deposit your money. money management in crypto it is not easy .I recommend to invest on medical purpose of insurance they will more support you.but life insurance I can't recommend you.

hatshepsut93

legendary

Activity: 3024

Merit: 2148

Lmao imagine paying for life insurance with crypto, then one day you die, but the price of a coin dropped by 90% compared to the time of purchase, so your family barely gets anything. Of course there can be the opposite scenario where the price goes to the moon, but the whole point of insurance is to deal with the risks, and crypto is the opposite of it - it is a highly risky investment instrument.

Topic: Life Insurance and Blockchain - page 4. (Read 1093 times)