Why do I need insurance?

Today insurance is a very important issue to everybody. Insurance is a one kind of long financial planning.

For the people in the countries that are under development and in the third world countries Insurance is still odd. Insurance industry provides us many types of insurance. First, one should have to know and understand the types of insurance and then he should take the decision that depends on his need.

Here are some points to tell you that why you need Insurance…


Family income:

Some people buy an insurance policy that based on the family. Their reasons to buy this insurance to provide a shield against family death, any kind of illness and any financially loss, which happen from accident. Let us see this with an example. In a family, there are a couple and their two children. The head of the family (the man) is doing a job to fulfill the financial needs of his family and his wife is homemaker. If the man died in an accident then who will accomplish the finical requirement of his family? Therefore, the insurance helps family to cover the living cost.


Protect Business:

A man, who had a business of transportation or a normal common man, who had a car if a serious accident happen and many dames or injury caused by an accident then who will pay the finical loss? In this critical condition, Insurance will help you.




Education Funds

Today giving higher education to the child is still concern thing to the Parents. In global economy there are continuingly rising the costs. Then a private university’s annual fees is around $20,000. And to pay this big is very difficult. Be confident that your child have the same prospect for his or her better education and bright career whether you live or die.

Retirement Resources

Give a single moment out of your busy life and just think about your retirement. After job, how much money you will have? And then compare it with a life insurance plan, it will give you more. At this time there are no source of income to fulfill your financial needs. To get Pension is good but it is very small part for your financial need. In this critical condition, supplemental income is necessary.