Benefits of having Insurance (You should know this)

Wisdom01

VIP Contributor
It is right that some insurance are costly. And it is also fact that we can't get benefit on insurance of an old item. In India if a vehicle is 10 year old than we will not get any claim on accident or theft. Here we have also problem with health insurance. To claim one must be admitted in hospital. Outdoor patient is not eligble for claim
Wow I never that they consider all these before insuring an old item , yeah insurance premium are costly that is why many usually take their struggle to find a better insurance company that would offer them a better service , despite the low amount of premium been given I think
 
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anil02

Verified member
Wow I never that they consider all these before insuring an old item , yeah insurance premium are costly that is why many usually take their struggle to find a better insurance company that would offer them a better service , despite the low amount of premium been given I think
Insurance companies have not problem in doing insurance of old things. But on loss when they calculate amount of loss, depreciation clause applied on most of vehicles, electrical motors and machines. Amount of insurance premium is almost alike of all companies
 
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anil02

Verified member
Insurance plays a very important role in every spare of our life. Life is very risky, at any time any accidents may happen. Though insurance policy is so necessary, during COVID-19; it is a great burden to some people, especially in my country. They cannot take a square of meals a day let alone have insurance.
In these day health service are too much costly so if some one have medical emergency any time it is very tough to arrange money. Insurance is much helpful. I have it experience. Before 3 years I have cataract surgery, at that time I have health insurance so I have not any problem on money
 
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Chibson

VIP Contributor
Insurance is the best way to manage your money in case of accident, healthcare and other areas. However, this scheme is still oblivious to the masses. Especially in my country many don't know the benefits of having insurance,they don't even know what it is all about. And they believe it is only for the rich people. Hopefully proper enlightenment will be given to the masses on insurance.
You are definitely very correct on this. a lot of people who do not know the advantages of having insurance policies. Some people will think that you are wishing them bad luck when you tell them to enroll for insurance schemes. I think there should be a lot of enlightenment of people on the advantages of having insurance.
 
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