Insure meaning
arrange for compensation in the event of
damage to or loss of (property), or injury to or the death of (someone), in
exchange for etc.
Insurance essentially helps as a
buffer in testing times in case of loss of property or life. Any individual should realize why
& how much insurance is required basis his earning capacity and forecasted
expenses. One should not just do insurance just for the sake of it.
It is a common myth that insurance
is an investment product, whereas it is merely a cover to see through the
expenses of the family during intricate times.
Now to extrapolate the myth
further all the Insurance companies came out with swanky products like:
Insurance is supposed to arrange
for compensation in the event of damage to or loss of property or in case of death
of someone. Insurance in no way gives your return on your investments. Then why
should one mix up both investment and insurance.
