Is insurance really a waste of money?

[Blessed19]

I really do not understand properly how this insurance of a thing works as especially in my country Nigeria it is what it is with insurance companies as they do not function like it is in other places.

 

[Hate2Wait]

If you have life insurance available in your country then you can utilize it and you can even go for term insurance that's cheap and will help your nominee when tragedy strucks

 

[riberet19]

I really do not think it is a waste of money, there are many insurances that are really economical and can save you from more than one hurry, it all depends on the insurance you hire and your individual needs.

 

[Hate2Wait]

There can be times that you will feel like over investing in insurance but we need to understand that it's not investment and is just a way to keep safe the future of our family.

 

[Niyi Briggs]

That is the nature of a health insurance to protect people's lives and health. I congratulate you for being wise and smart. That's the supposed thing people must do to avoid problems of doctor's bills.

One would understand the benefit of health insurance when he or she needs to be treated for a sickness that is very expensive to treat. A health insurance would step in and pay for such treatment expenses.

 

[Starmix]

One would understand the benefit of health insurance when he or she needs to be treated for a sickness that is very expensive to treat. A health insurance would step in and pay for such treatment expenses.

That is right and ours here in my country we have PHILHEALTH and it is a mandate for every employee to apply for it and the payment is deducted from our payroll. It is just a small contribution but the benefits are big and satisfactory.

 

[Niyi Briggs]

That is right and ours here in my country we have PHILHEALTH and it is a mandate for every employee to apply for it and the payment is deducted from our payroll. It is just a small contribution but the benefits are big and satisfactory.

So many people are short sighted and think everything about lite is eating and survival. People would say that they are just struggling to survive and won't do insurance. They don't even know that the benefits outweighs the premium when you get it right.

 

[Starmix]

So many people are short sighted and think everything about lite is eating and survival. People would say that they are just struggling to survive and won't do insurance. They don't even know that the benefits outweighs the premium when you get it right.

There are indeed people hard to convince. They have a different mindset. They think that they will not get sick and sick. They are just pretending, but the fact is they do not have money.

 

[Etini Willie]

There are indeed people hard to convince. They have a different mindset. They think that they will not get sick and sick. They are just pretending, but the fact is they do not have money.

It is only poverty that would make someone not to consider insurance. But they lie about it and say that it is a waste of time. Health insurance is important for everyone.

 

[Hate2Wait]

Insurance cannot make you rich but it can at least compensate you or your family/ dependants/ nominee on untimely death or accident to the insured person so its a useful thing

 

[Heatman]

Insurance is basically securing yourself against the uncertainties of life. Some people say they buy an insurance plan and no uncertainty happened. They are of the opinion that insurance is a waste of money. Do you agree with that?

Anyone whom have never experienced a catastrophic business disaster will always say that insurance is a waste of money until he finds himself in that predicament.

 

[Hate2Wait]

I don't consider it a waste of money but we should not spend all our money in insurance and need to take life or term or health insurance and use the remaining in investments

 

[Ratine]

For those that don't understand how an insurance really works say it's a wastage of money but literally isn't.