It is a fact that although insurance is widely known as an important element in our life, there are people who left this issue behind. My point is – it is the most suitable time to start concerning about insurance before it’s too late.
Generally speaking – why insurance is so important in our today’s life?
Providing Safe & Security
The insurance provides safety and security against the loss on a particular event. In case of life insurance payment is made when death occurs or the term of insurance is expired. The loss to the family at a premature death and payment in previous age are adequately provided by insurance. The insured property is secured against loss at fire, destruction or disappearance of property and etc.
Providing long-term investment
Individuals unwilling or unable to handle their own funds have been pleased to seek out an outlet for his or her investment in life insurance policies. Endowment policies, multipurpose policies, deferred annuities are bound higher kind of investment. The components of investment such as regular saving, capital formation, and return of the capital along with bound extra return are perfectly observed in many types of insurances such as life insurance, home insurance and auto insurance.
At the death of the husband or father, the destruction of family would like no elaboration. Similarly, at destruction of property and product, the family would suffer a lot . It brings reduced standards of living and also the suffering may go to any extent of begging from the relatives, neighbors or friends. The economic independence of the family is reduced or , generally, lost totally. The insurance can assist them and provides adequate quantity at the time of sufferings.