General insurance Have you heard about someone being insured in all premium policies?

[sincerem]

I never heard about some one purchasing all insurance policy plans. Purchasing it means more funds to be spent, but it covers you and your family in every life uncertainty.

But for me, it doesn't make sense going into all the policy even if the funds are there. I prefer picking out some policies that is very much important and in-demand in my life to purchase long time for the benefits of me and my family.


I know it isn't possible for someone purchasing all the policies that is sold by insurance. Even if it protects the insured in all ramifications, but at the end it will become waste of money. Because, not all policies we are going to reap from, no matter what.

 

[Mataracy]

Though I have never heard about it before that some one take up all the insurance policy. I still belive that it depends on individual want and choices and how rich some one is.
A rich person can easily take up all insurance policy if really want and develop interest in taking it.

 

[btaliat]

It will be a foolish way of investing or even spending money if someone just decides to insure on all insurance policies. Insurance is to secure oneself or property against any impending and likely risks. Except there is impending risks in all his property which I don't even think it is possible.

 

[Wisdom01]

It would really cost a lot of money purchasing all the insurance cover ,it's just best the person pick the most important ones that are likely to occur to avoid wastage of money and it becomes more of liability to the person , I haven't seen such thing before too ,

 

[sincerem]

It would really cost a lot of money purchasing all the insurance cover ,it's just best the person pick the most important ones that are likely to occur to avoid wastage of money and it becomes more of liability to the person , I haven't seen such thing before too ,

It won't work cos the person will simply be enriching the insurance company without reaping anything from them. Even though uncertainty happens to him, it won't affect him in every part of his life. Everything he is living for, won't go shamble. It will be better to go for the most important and use other funds for other rich investment scheme, that's all.

 

[Nite]

Maybe there are people who have purchased more than one plan under certain circumstances. But the problem is that of affordability, when you own every insurance plan, then it's mandatory you'll have to make premium payments on all of those policies. For me, even if you invest in just one most beneficial plan, that'll be enough to provide you financial security.

 

[Lens1000]

In reality, there should be a comprehensive insurance policy that covers all risk. Have not heard of such but I think it will be a good idea if the insurance company could come with a policy like this. Or there should be a coverage that contains 3 or more different policies. It should be grouped in such manner for the insured to choose the one that best fit his/her needs.

 

[Good luck]

It is possible to get insurance in all their plan or policy but it will be too expensive to cover that.it will also be unwise to do that because you will have to pay premium every month or yearly which will cost one fortune.so I will advice one just do two of their plan.health insurance and probably life insurance should be fine.

 

[sincerem]

Maybe there are people who have purchased more than one plan under certain circumstances. But the problem is that of affordability, when you own every insurance plan, then it's mandatory you'll have to make premium payments on all of those policies. For me, even if you invest in just one most beneficial plan, that'll be enough to provide you financial security.

One beneficial insurance plan covers the individual provided the plan is in-demand also. I don't see any need for an insured to get all the policy plan, because its money draining. Even the richest man on earth 'Jeff Bezos won't like to purchase all insurance plans. He'll purchase few which is important to him and forget the rest.

 

[Wisdom01]

It won't work cos the person will simply be enriching the insurance company without reaping anything from them. Even though uncertainty happens to him, it won't affect him in every part of his life. Everything he is living for, won't go shamble. It will be better to go for the most important and use other funds for other rich investment scheme, that's all.

Except the person don't Know what he or she would use the money for again , then he or she might just go for all the insurance policy and start wasting the money he or she has , even the insurance company would think the person is trying to use or play some trick on them by doing so

 

[sincerem]

Except the person don't Know what he or she would use the money for again , then he or she might just go for all the insurance policy and start wasting the money he or she has , even the insurance company would think the person is trying to use or play some trick on them by doing so

Lol, the insurance company won't think the person wants to trick them. They'll know within them that the person is just dashing them money. Cos, their is no how the person will fall victim of each damage attached to all the policies. Tricking insurance company isn't easy, cos they have what it takes to track down someone who trick's them.

 

[Mandy96]

To be honest, I have never heard about anyone being insured in all types of insurance policy. Well I know that most rich people do subscribe to insurance policy and I can boldly say they do insure in most types of insurance policy but I am not sure anyone is capable of insuring in all insurance policies

 

[sincerem]

To be honest, I have never heard about anyone being insured in all types of insurance policy. Well I know that most rich people do subscribe to insurance policy and I can boldly say they do insure in most types of insurance policy but I am not sure anyone is capable of insuring in all insurance policies

That's what I've been saying too, even though I created this topic to seek others opinion. It wouldn't be easy for a customer to insure his or her life and property with all the insurance policies around. The person would go for the the insurance that suits his or her plan long term in order to fulfil such kind of aim.