The Importance of Insurance in Our Life
A wise man once said, “Never leave anything to chance. Protect the ones you love with life insurance”.
Insurance may be termed as a verge against life’s thoughts. It can be described as a procedure of safeguarding the interest of people from loss and uncertainty. Whether we are aware of it or not, risk permeates our lives.
If in case by nature, an illness or injury puts you incapacitated for a while, or if you were to pass away, because death is a constant and no one can escape it, then have you ever thought that what would become of your family members and the people you love? Who will take care of them? Who will pay your children’s school fee or the rent or the monthly bills? All these are the responsibilities which you will leave behind. Now what? You must be thinking that after you are not with them, life would be finished and there is nothing you could do.
But don’t give up because that’s where “Life Insurance” comes to bury all your worries and provide you safety and protection by becoming your financial support.
Unfortunately many people in our society do not understand the concept of insurance and label it as slander, although the value of insurance is extensive but it is impassive. Woody Allen uttered the line:
“There are worse things in life than death. Have you ever spent an evening with an insurance salesman?”
(Love and Death, 1975)
The following points show the importance of insurance in our life:
1. Provide safety and security:
Insurance plays a substantial role by giving us financial support and reduce uncertainties in business and human life. It provides safety and security against particular event. It enables the families and business to remain monetarily stable and steady in difficult times.
2. Inspires savings:
The main advantage of insurance is not only protection against hazards and uncertainties instead it also provides an investment network too. It permits methodical reserves due to payment of regular quality. It is very useful in providing way of investment. It advances a person to save money. The insured get the handsome amount after the permanent contract. Therefore life insurance inspires savings.
3. Medical care:
Medical insurance is also considered important in handling risks in health. Due to the environment which we are facing day by day, full of pollution and unhygienic food, anyone can be a part of serious sickness therefore raising the medical expense is of great concern. Medical Insurance is one of the insurance policies that provide different type of health risks. The person who get himself insured will get medical care, support and precaution by the insurance policies.
4. Provides Relief:
When a person thinks about his future, the problems which he will face, the stress and tension that will come in his life, the over burden expenses and fear of retirement. All these thoughts make a person weak. Therefore insurance provides a sense of relief and assistance.