General insurance What insurance policy should you avoid?

[Mandy96]

If you ask me, I’d say the insurance policy to avoid is the life insurance policy. As much as I understand about life insurance policy, the insured will not live to get compensated until after the death of the insured, that is where the insurer, that is, the insurance company comes in.

 

[sincerem]

The insurance I can't even sign up for is flood insurance , because of the kind of place I am living it's not too prone to flood ,so if I sign up on the insurance policy package I might likely not benefit ,or it might just be a waste of money for me

Lol, I think one who goes into homw insurance policy is covered even if flood brings his or her home down, or disrupt his or her comfort. That's the essence of insurance, but if insurance discovers that the home is marred by flood regularly the benefits will reduce and the premium plan fee increases.

 

[btaliat]

If I am to avoid some insurance policies, I will avoid content insurance and also flood insurance. Instead of going for content insurance, I will rather insure my house because it doesn't make sense to me protecting what's inside my house without protecting the house itself from any imminent risk.

 

[uforwealth]

There is more than one type of life insurance - term life insurance and permanent life insurance.

Term life insurance last for a short time which could be 10 years.

Permanent life insurance is a type of life insurance whose benefits can be enjoyed by the relatives of the deceased.

It is now left to you to choose which one you want because not all types of life insurance are not beneficial the policyholder when he or she is alive.

 

[Wisdom01]

The insurance I can't even sign up for is flood insurance , because of the kind of place I am living it's not too prone to flood ,so if I sign up on the insurance policy package I might likely not benefit ,or it might just be a waste of money for me

 

[sincerem]

The life insurance is a good one according to the agent. You pay the monthly premium for 10 or 20 years depending on the package. At the end of the term you get back all your money plus the interest that the policy had earned. But if you die before the term ends then your beneficiary gets all the promised money. However, that is not very accurate because there is always the fine print. Check it out.

I'll check the terms and conditions for both "Term life insurance and " Whole life insurance. To check how the premium policy works. And know how it is calculated for Term life insurance before getting the benefits, and Whole life insurance, who the benefits can be calculated after the insured death.

 

[Alexandoy]

The life insurance is a good one according to the agent. You pay the monthly premium for 10 or 20 years depending on the package. At the end of the term you get back all your money plus the interest that the policy had earned. But if you die before the term ends then your beneficiary gets all the promised money. However, that is not very accurate because there is always the fine print. Check it out.

 

[sincerem]

If you ask me, I’d say the insurance policy to avoid is the life insurance policy. As much as I understand about life insurance policy, the insured will not live to get compensated until after the death of the insured, that is where the insurer, that is, the insurance company comes in.

Lolz, that's the one option of insurance policy I don't like too. But some users are saying that, you can still live to reap from life insurance company. If you choose "Term Life insurance policy" the one that runs for some certain duration of time, after expiration you'll get compensated for living up to that time. But if you go for "Whole Life, you need to die before benefits comes in, that's investment you made for your family when you're no more.

 

[Jamoflondon]

I totally agree with you on that part. Specifically whole life insurance. I mean in the real sense why will someone wants to get insured for life I mean you don’t to receive any compensation until after death. Well we are different people with the different point of views so I wouldn’t want to judge.

 

[sincerem]

I've learned to know that, not all insurance policies are worth it. Some are simply time and economic waste for some persons and not for all. We all have our preferences and our dislike when it comes to insuring our lives and property with any given insurance company offering varieties of policies.

I dislike 'Life Insurance; This kind of insurance I still don't understand how it will be rewarding to me. Cos i can't live to see myself enjoying its benefits. Its the kind of insurance policy that one will go into and lay the foundation for his or her children, family members to benefit. Any insurance policy which I can't benefit from I'm kinda out from it.


Which of the insurance policy do you dislike?

 

[sincerem]

I just believe that there are some insurance covers that somebody will enroll in that are actually need less or does not go in line with his business. Someone who is a freelancer does not actually have any business enrolling into a pandemic insurance because even if there is a pandemic it is not going to affect his business directly.

I've come across this kind of comment before where someone like you mentioned about a freelancer enrolling into pandemic insurance being baseless. To be frank, a freelancer shouldn't involve in pandemic insurance cos the pandemic isn't affecting the online community in any way, that will be waste if a freelancer enroll into that.

 

[Setho]

I just believe that there are some insurance covers that somebody will enroll in that are actually need less or does not go in line with his business. Someone who is a freelancer does not actually have any business enrolling into a pandemic insurance because even if there is a pandemic it is not going to affect his business directly.

 

[sincerem]

There are two types of life insurance. The whole life insurance and the term life insurance. In whole life insurance, you will get the benefits when you die. This type of insurance is meant to fulfil ones dream after death. The term life insurance, is for a particular period of time and you will get the benefits upon maturity.

I think the one "term life insurance is the best. I can't see myself as a young prodigy going into " whole life insurance. I prefer for the one that will end with in some certain duration of time. Even if urs 20 years time, if nothing bad happens to me I'll reap the benefits. I know something bad must happen before insurance deem it right to reward me.

 

[btaliat]

Just like @Lens1000 has explained, there is probability of enjoying one's premium if invested in term life insurance policy. And if I may add my own opinion. While going for insurance policy, we should always have the minds of other people. It is not a bad thing to have our family enjoying our sweat.

 

[Nite]

The main reason for people to not choose Life insurance is that the premiums are high and can go up overtime. To the young buyers who can afford it, life insurance will be a logical thing. But if you're over 40 or have a history of bad medical condition in family, the company will then take you as a risky buyer, charging you higher premium.

 

[Mataracy]

There are two types of life insurance. The whole life insurance and the term life insurance. In whole life insurance, you will get the benefits when you die. This type of insurance is meant to fulfil ones dream after death. The term life insurance, is for a particular period of time and you will get the benefits upon maturity.

This one that you are talking about concerning life assurance and whole life assurance. Though both of them are good but I would like to chose life assurance over whole life assurance. Whole life assurance as the word implies means through out of somebodys life you will not be entitle to any benefit until when you are dead before you will be considered. I think this one will benefit to someone's who is in good term with his family unless its a great loss after his death. But that of life assurance is more good that once you are still alive you will be enjoying the benefit . I think I like that one

 

[Lens1000]

There are two types of life insurance. The whole life insurance and the term life insurance. In whole life insurance, you will get the benefits when you die. This type of insurance is meant to fulfil ones dream after death. The term life insurance, is for a particular period of time and you will get the benefits upon maturity.