What do you think about life insurance?

They take money from us. They wait us to die. Then they pay it back in doubles. A very good scheme, right? Well, insurance companies actually roll the money you give them in the share market and gain a huge profit. They are only giving a part of their income to us. And they expect us to be satisfied. That is the gist of insurance...

I have never been a fan of life insurance. But luckily, in my country as long as you are a citizen here, you will be instantly covered under this scheme which will reward you if you fall under the category they have listed. I only believe in this scheme which is automatic and every year, a small fee will be deducted from our old retirement account. That is pretty alright for me, because I don't believe in private insurance companies. I have some acquaintances whom believe in private insurance and when they requested money, they were told that they did not qualify. That is quite bad, since that is actually their money which they had invest with the insurance companies.

Hello, thejuice! Well, life insurance is a great way of saving. But nowadays, some of insurance companies are found to be scam. Many pensioners complained in it and they got nothing. So we should be aware on where to invest right because many people had lost their trust to insurance companies. This is my view regarding your topic, happy mylotting and have a nice day!

I think now a days life insurance is mandatory for each and everyone. As we see that the medical treatment cost have gone up rapidly and there are lots of diseases that are spreading. So it is always better to have a life insurance. Specially if you are the only earning member of your family. Because there are other people who are dependent on you and if something happens to you then the hole family will shattered. If you have a life insurance then at least they can get some money to fulfill their needs.

hai juice, life insurence most beneficial to us. it gives us a support to survive. our main responsibility to our family is that they must live withought any economical crisis after our absence. but sometimes i think that can money fill up our absence in a family. thanks.

I think you are confusing life insurance with medical insurance. Medical insurance pays for your bills related to illness. Life insurance is a lump sum payment to who ever you name when you die. I do think that life insurance is a good idea. Without my husband, I wouldnt be able to pay all of the bills. I would have to sell our house. I would also have to find somewhere cheap to live. Life insurance is important because it means that I would have enough money to take care of myself if something happened to him. I also have life insurance so that he wouldnt be stuck if something were to happen to me. I do think that medical insurance is important also. You never know when you might get a horrible disease that costs a lot of money to treat! I wouldnt want to die because I couldnt afford the treatment.

yes..i agree with you.right now i have 3 life insurance including my family..For me,at least when something happen there's a backup plan that can help me go through..If something doesn't happen in the way,we can get our saving back at least 15% from total.