BENEFITS OF LIFE INSURANCE

Hello everyone thank you for stopping by my blog today 😊

Insurance policies are very important in life, I would use my sister as an example when she battled with cancer her insurance policy covered most of the bills ,life is really unpredictable, one accident, one hospital visit, one emergency can wipe out your savings in a second, and in that sense, insurance is not about expecting bad things to happen, it is about preparing just in case they do, It is more like protection than profit.

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In big companies, the insurance sector is perfect for them to operate in because people pay for it and generally don't use the benefit. Furthermore, those who take out insurance expect not to need it, because, for example, in the case of car insurance, nobody will drive recklessly and risk an accident, putting their own life at risk. In other words, it's a sector closely linked to the financial area, since they balance the amounts paid by those who don't use the full service with those who are careful and rarely use the service, allowing them to generate income from revenue as well as from savings.

having insurance might seem like the most foolish thing someone could do. Why would anyone pay for life insurance, for example, so that money is paid out if they die? Or better yet, why pay for something I try to avoid with all my strength? After all, using life insurance as an example, you spend your entire life avoiding death, don’t you? So why pay for it? It sounds stupid, but it isn’t. To me, it’s actually genius. Whoever invented insurance was extremely intelligent, not in a way meant to take advantage of people, but as a system built on mutual benefit.

insurance serves as a way to be prepared for a critical scenario, when some type of emergency occurs and they do not have the necessary funds to deal with it alone. For example, a person may not be able to pay for serious medical care, or a complete home repair in the event of an environmental disaster, such as tornadoes, floods, or earthquakes. Thus, insurance is a way to be prepared and have peace of mind knowing that even in the worst situation you will be prepared.

insurance is a way of helping one secure and guide his property because i know then when i use to hear my dad talk something about ensuring documents in the bank which i was surprised to hear but he said yes you can do that and that it is very much valid and trusted. I never know about that till he explained the process to me .

Currently I have no insurance, and I am also sure that the majority of the people here are on the same table with me. Or does anyone reading this have one? Though it might be good in some areas, it just felt like putting money into something I will never use, and to be honest, I hardly hear people even talk about insurance because most of us prefer to use our money for another thing that will benefit them , responsibility keep pilling up.

The economy in Nigeria is very unstable and income is not always steady, and our basic needs already stretch the budget everyday, so such a question may even make sense. Insurance can feel like an extra burden for an average Nigerian who is trying to put food on the table, pay rent and handle transport costs. But I agree that it is important and if it is something I can afford I will definitely do it one day.

This is where I would drop my pen for hive learners weekly contest edition 3