Why Insurance is important ?

Why Insurance in important ?

When we talk about insurance, people think that
LIC agents are trying to market the schemes just to earn commission only

It may be partly true.

Like any other business, LIC is also a business,  but  it is airmed for
YOUR  FAMILY'S  FINANCIAL  SECURITY.  
YOUR  WELL  BEING
YOUR  FUTURE
YOUR  CHILDREN'S  FUTURE        Not agent's family's security.

No other business is bothered about your family.

Do you love your family ?   If your is a big  YES,
then, show it on paper, by signing insurance policies.
That is the best thing you can do it to your family, to show your LOVE &
AFFECTION.

Usual replies from people when you talk about LIC.

Frequently  Asked  Questions and Frequently told statements:

Returns are very  less:

               When compared to other investments, it is little less. I agree. Life insurance is not good from the                    point of  investment ALONE. Everybody is worried about the difference in the return of                                investement.What about the huge loss for the family and industry if God forbid something should                   happen to you tomorrow ?   People will not sacrifice the future of their family for the sake of extra                 returns.

Not an ideal investment:

               Some say that life insurance is not an ideal investment when compared to other investments.
               Many have invested in their house and pay regular EMIs.  Some has tied up with some insurance                  companies for home loan. In the event of death of the insured, the loan will be waived off.  Good.
              People are wise enough to do that insurance coverage for home loan.  But what about monthly
              mainatenance of the family ?  Do you have enough Fixed Deposits to take care of your family                       throughout their life time ?  Your family needs an amount equivalent to your present take home                       salary. What plan you have for that  ?

Why don't you contact me next month ?
Meet me after Deepavali
Give me some time. I need to think over it.
Get in touch with me after two months
Not now, perhaps after a month or so.

              Your family's protection is postponed. Nothing else. Earlier you join in any insurance schemes, the                 premium will be less. The more the delay, the cost of premium will be high. The cost of policy                       increases every year if you don't have it.

              Our life is not a guaranteed one. Nobody knows what happens tomorrow ?
              In the last five years, when did you find a 'GOOD DAY' to invest in insurance and called
              your insurance agent.  We will never do it. Hardly 2 % people have ever thought of it and called                   insurance agents to sign policies.
         
No money to invest

              If we don't understand the importance of insurance, we will not have enough money to sign a                         policy, at any point of time. We will never think that we have enough money to invest. Life                             insurance is such an investment, you will not see any tangible asset once you invest, like TV, Fridge,               etc. It is a different type of asset. You will enjoy only when you get the maturity payments after                     certain years.
              Every student will think on the examination day that he should have studied well in advance. Should               not have postponed till exam date. We have been programmed like that right from school days.
              When we have some financial challenges, we will think that we should have done something right                   before. The best time to plant a tree is 10 years ago. Next best time is today.

I have big commitments

              Many professionals and businessmen have a lot of commitments in the way of bank loans, outside                 borrowings.  They are exposing their families to a greater risk.  Without adequate coverage, if they                 do such things, then what will happen to the family, in the event of unfortunate death of professional               or businessman ? How will they repay the big financial commitments ?
              Already some cost is involved in the commitments (like interest, process charges, etc). Add the                     policy premium also just like a cost.  Don't leave your family to the bigger commitments. Let them                 manage their atleast without this challenge, while managing themselves to face your absence.

I have enough insurance policies.
I have covered enough

              May be true. While taking a policy, you thought that your worth is that much. But years have                         passed. The cost of living have gone up. Your worth is also increased. Any extra investment in                       insurance is definitely NOT a waste.  There is different types of policies. You can customise one                   suitably.

I do not need any insurance

             Many professionals say, I am already earning enough. I don't need any insurance.  When a lawyer                or doctor dies, he leaves his family without any ongoing business. If he has started some company or              some business, atleast we can assume, that that business will give enough money to manage their                    regular life. Professional earn only when they are alive. But their right investments in insurance earn                their family throughout their life, provided he had invested in such schemes.