Tuesday, September 14, 2010

Who should have life insurance?

Simply put, insurance is the protecting of assets, giving you the peace of mind knowing your property is safe. List of types of insurance goes on from health, life, vehicle, and house. People living in the developed world have at least one form of insurance.

Insurance is protecting something by paying insurance company a monthly premium and they will in return protect your property, health or loved ones if something were to happen.

Insurance has become a very important aspect of our daily lives. Imagine you are driving your car and you get rear ended, insurance doesn’t exist. What will you do? Chances are you will have to pay for the repair bill or you will have to sue the person at fault in court. Imagine your house is burned down and you don’t have insurance. You will be out of a house and you will still have to pay for the mortgage. Insurance allows us the peace of mind to purchase expensive assets and know that they are safe.

If insurance didn’t exist, most people wouldn’t buy expensive cars, houses and people will be paying thousands of dollars in medical bills when they are sick. Some might be thinking insurance isn’t worth it. This may be true for insurance such as boat insurance that you might use only once or twice a year. But for valuable asset such as a house, car or your health, insurance is almost a must.

No comments:

Post a Comment