Do I really need insurance?

When it comes to insurance, I have heard many questions. Let’s start with this one good question to ourselves. Although insurance may not be a wise idea, in some cases (especially those who are seriously struggling financially), it’s also one of the most important parts of our life.

There are many types of insurance which I will share in a series of Insurance Insight.  Let us kickstart this article by exploring some of the reasons why we need insurance. 

1. Building a family we can call home.
2. Support our aging parents.
3. Debts and other expenses
4. Protect and build wealth.
5. Protect you financially from any loss other than death.

Insurance is a large investment that we might most likely purchase multiple policies and feels like paying it throughout our lifetime. 

Thus, it’s important to know what’s the best decision when purchasing policies. Make sure to take time to find the right insurance in your situation. 

However, do not base purchasing the cheapest insurance but look at what it provides that meets the need in your situation. Because no one wants to waste money with the wrong policy.

In addition, it is also recommended to check the legalities of purchasing. Because most people say they can’t afford insurance. But in reality, they just don’t prioritize it and they can’t afford to have it.

Furthermore, insurance can save your dependents from unplanned expenses or unforeseen disasters. 

Moreover, financially speaking, money obtains the need to live, and having insurance is the smartest idea anyone would need to have a stable life.