Insurance comes along in different packages depending on your needs. What to keep in mind is that these packages will not apply to everyone who is on a payroll. Different people hold different opinions concerning insurance about the experience they’ve had with it. It has been in existence since time immemorial, but we don’t know it as well as we think we do. There are some facts about insurance that we shall learn about.
Essential Insurance Facts You May Not Know About
You will be pleasantly surprised at all the things you never knew about insurance until now. It’s never too late to learn something new, especially on matters to do with our finances. Curiosity has always led to the discovery of things that have added valuable knowledge to our existing stock. Insurance is not any different as there are facts about it that we don’t know about yet. They include;
1. Medical bills are among the highest causes of bankruptcies. No matter how tough your insurance company is, when it comes to medical issues, it is not a guarantee that you are covered.
2. Insurance is one of the most trusted services around the world. Since no one has the power to see into the future and prevent accidents and losses, insurance is said to be the way to go.
3. Insurance also applies when you are getting engaged. The argument is that in the event that the groom decides to walk away from the bride, the bride to be is left with her dignity intact. This is termed as the ‘virginity insurance’.
4. The house insurance policy came about as a result of a building that burned down in London. Ever since this incident, anyone can apply for a fire insurance in case of such an emergency.
5. In Japan, life insurance applies even for those who commit suicide. The argument behind this fact is that a life has been lost and life insurance policy is the best way to compensate it.
Benefits of insurance
Being equipped about insurance is one thing but being aware of the benefits involved is another thing. We live in times where we make decisions based on what’s in it for us. In this case, there is nothing different as we have to weigh the options before putting a sign on any documents provided.
1. Insurance makes life easier and more comfortable. No one can fast forward their lives and see what awaits them. This is why we are better off safe than sorry. Insurance provides protection and safety to anything or anyone it is extended to.
2. It is not hard to obtain one. The requirements vary from one insurance company to another. The beauty of it is that they can’t ask for something you are not able to provide. In the long run, you benefit from the packages you apply for.