Dear Hive Friend and Hive Learner Members,
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The life is full of ups and downs and that is the part of our life journey. We can not feel the happiness without experiencing the sadness in life, similiar way we do not appreciate the shadows of tree without going out in opens sun. The life is not like a scripted movie or a TV serial and their will be a happy ending at the end of their is always a Hero like friend to save us from the different situations in life. The uncertainty in life is truth and we can not escape it. So planning for such situations is one important part of life other wise it can be a big trouble for us. You must be seen people around you struggling to come out od such situations and specially in case of financial crises or medical emergency. Saving funds for emergency or medical situation is one good way of mitigate the crisis. Choosing the right medicine insurance for ourselves and the family is also a way to overcome the situation when we need the funds in case of medical emergency and the life insurance is safeguard the future of the family in case miss happening to the earning member of the family. If you ask me which policies I am holding or I am in favour of, them my answer is medical insurance and the term insurance.
We all come across some insurance, for example very comma insurance we all purchase is the car insurance which is actually mandatory if you have a vehicle (it may be two wheeler or four wheeler does not matter). The government policies bound is to purchase it and this is to overcome the financial burden on person driving the vehicle in case the vehicle meet an accident. The true purpose of the insurance fade away over the time specially in case of life insurance over the period of time. It becomes more of a tool or instument of saving cum insurance. The pure life insurance is the term insurance which in my opinion is the must have insurance for the earning memebers of the family. The other life insurance are sold by combining the saving and insurance together and people love the idea that they will get the premium back after the completion of insurance terms but we must keep inimd that the insurance has differen purpose. If you compare the premium of a term insurance and the other life insurance then you will come to know that their is a huge difference for same coverage amount. Their are many other option if you want to invest the money and you will get the better returns also. A life insurance gives approximately 3 to 4% return which are close to the saving account intrest, that's the reason I consider it not a good idea. So do not dilute the pure idea behind the insurance.
The medicine insurance is big relief in case of medical emergency as the medical treatments are getting expensive day by day but reading the terms and conditions and knowing the decease it will cover is very important as sometimes it happened that when we need the cover we come to know that it has limited cover only. Even their are options of deductable for medical policies which has very less premium as compared to to normal medical insurance premium. I do not consider the term and medical insurance are wastage of money as they are the beig relief in case of emergency.
What are your views let me know in comment section.
Thanks for stopping by my post.
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