Insurance: Necessity or non necessity?

 

What is insurance? 

It is a means of protection from financial loss. It is a form of risk management against the risk of a contingent or uncertain damages/ loss. Insurance is meant to safeguard us should certain things happen.

 Why is it so important?

• Financial stability for you & for your family. No matter how much you save each month when there is an uncertain event, you will not worry that your family's financial future may be jeopardized. Especially if you are the only one your loved ones depend on, it is good to have insurance so that you have peace of mind that even if you're gone suddenly there is a guarantee lump sum money that they will receive for their start up. Though no amount of money can replace the loss of loved ones, having an insurance would save them from going financial hardship.

• Having peace of mind. We can not say what our future will be and it is not bad to be prepared for what can happen. Mishaps in life like illness, injury, permanent disability even death, guarantees that the insurance company will cover these kind of damages. And you can at least have peace of mind knowing that if anything will happen to you, your financial security even your family will be assisted by insurance.

• Reduce stress. It helps in a sense that at least you don't have to worry about hospital bills during such hard time. Having insurance you and your family's financial stress will be reduced so you can focus on more important things and rebuilding your lives.

• Legacy you'll leave behind. The lumpsum cash benefit that your family will receive that can protect your family's financial needs, your children's future and protect their standard of living.

There are many insurance companies that offer cheap and affordable premiums depending on your budget and lifestyle. It is better to talk to a financial agent to explain to you properly and get rid of your doubts. In today's world of catastrophe, we do not know when we will ever be on the surface of the earth. Maybe it is not bad to be prepared and protect our family most especially for our children's future. I know that no amount of money can ever take our place in their lives but of course, we would prefer protecting their future and have their lives better even if when we are gone.