5 Reasons why you need Insurance?

 

why do we need insurance?

 People often believe that insurance is not a significant part of their life as we have a good healthy life,  and have enough money for our kids for spending their whole life so why do we need it? irrespective of thinking about the future contingencies as we all know life is uncertain, and anything could happen but in India, people don't think so because of a regressive mindset now people are adopting insurance as a part of their life and spending a portion of their income on purchasing it.

people can prevent many unfolded issues in their life by using insurance as it has immense benefits for an individual as it provides protection moreover it may be for the property, life, and car but along with that it also exempts your financial burden from crisis situations.

benefits of using insurance:.

• Insurance encourages savings as people invest in several life policy plan like money back policy where they allocate their funds in form of premium every year which they bring when its maturity times comes and recieve entire invested amount so it enhance & promote savings which sometimes becomes hard for people to do.

• Insurance provides protection as it secure our life as we all live a life which is unpredictable and unforeseen so people need protection to secure their family life more than their own life as if in future any crisis happens like death or accident so in that case the lump -sum amount will help his  family  continue the same lifestyle without him.

• Insurance gives you a peaceful life as u have already secure your life or peroperty so u don't worry about the expenses which might be happen in the emergency situtaions because now you don't own those problems.

• Insurance provides you financial security as when any mishappeing happens in form of death or accident so people got shattered becuase of their loved ones but at this time no one can give them emotional support but yes insurance releive your financial strain during this hard time.

• Insurance secure your retirement as there is a retirement policy which helps in saving your income as you pay premium over a long peiod and when you get your retirement then the accumulated amount  will give to you in form of pension.