“To create enough funds for higher education to your Kids, marriages of your Kids, happy old age living for you and your spouse, you save or invest - isn't it ? What if you die before you save enough for all these goals ? How will your family full-fill these wealth needs in your absence ? ” — that's the case of Term Insurance
We all know our Date of Birth but no one knows their Date of Death - and that's why we need insurance ! On this special day of the year ( Insurance Awareness day), we as a Financial product distributor take this oath to spread proper awareness about Insurance products, like-
How to evaluate your required Insurance cover ?
How to decide upon the premium amount of an Insurance Policy ?
What all Risk should be covered through Insurance and what to be excluded ?
How to select the best Insurance plan ?.
..and many more other questions.
Starting from today, we will be sharing these useful knowledge stuffs with you - please do read them and also share within your friend groups to maximise the reach of our awareness effort
“ To create enough funds for medical emergency or any other emergency like COVID, we all try to save our 3 months to 6 months expenses in Liquid funds - isn't it ? What if you or any of your family member get ill and all your emergency savings is exhausted at a go ? It will be very difficult to start all over again ” — that's the case of Health Insurance
Insurance products shield your loved ones from the harsh uncertainties of life and help recover losses from unforeseen damages. Securing your homes, cars, and livelihood, insurance is the safety net that assures a fallback in the face of unfortunate outcomes. Still, In 2021, India's life insurance penetration stood at around 3.00 percent, while the non-life insurance penetration was much lower at 1.00 percent. The overall penetration for the industry was around 4% percent in 2021. These numbers clearly signifies that people don't buy insurance policies ?
Why people mix insurance with investments ?
Why insurance is undersold ?
Why people expect return on insurance premium, when they don't seek return from your guard or security systems ?
Wait for our next blog (Day 2) on Insurance Awareness program, to learn this very interesting and highly mis understood segment of Financial world
Besides sharing interesting facts on insurance, we will be sharing some great tips related to buying and managing your insurance plans . We will share some very easy and simple tools to evaluate various Risk in your life and assets.
We all need to evaluate our Risk and create provisions to cover it. Believe me , Risk is something which comes without information ! We need to be prepared to manage it ! Whether it's your life or health or your assets - you need to protect it.
We are going to run 3 Blogs in this series , which will clarify all your doubts related to Insurance - both life and general ! Please share this series of 'Insurance Awareness Program' with all your friends in facebook and twitter, to help us achieve our objective.