Why Insurance Is Never A Waste of Money

Biphoo

25 Aug 2017

183 Views

Why Insurance Is Never A Waste of Money

When you Get Car Insurance or life insurance, you are insuring yourself against something bad happening. In other words, you are making an investment in the future – paying a set amount now so that if something bad should happen (such as a car crash, or you contract an illness) you will be financially rewarded and get your money back just at the time when you need it (and besides it’s against the law to drive without car insurance).

The paradox of Best Insurance Companies is that you actually want to lose money – if all goes well then you will never cash in on payout and this will mean that you don’t get the money back. Does that mean it’s useless? Not at all – because of course if you are to cash in then this can be a huge deal and save you from going bankrupt or losing your way of life. In business this is called ‘resilience’ and it means that you are more able to cope with the unexpected. You are ‘buying resilience’ in this sense and while you might not get the money back – you will have bought a security which is highly valuable.

And it’s important to remember that you never can predict what is going to happen. When it comes to driving, you could be the best driver in the world – but that won’t help you if your wheel breaks when you are driving, or if the person in front slams on their breaks without warning. And you might be in the Best Health of Your Life, only to suddenly drop dead.

What makes this all kind of scary is the fact that it only needs to go wrong once to land you in trouble. You need to drive work and home perfectly every single day just to maintain the status quo – it only takes one mishap for you to lose your vehicle, injure yourself and incur huge costs. Over the course of your lifetime, the odds are unfortunately stacked against you.

In his book ‘The Origin of Species’, Darwin noted that it is not the smartest nor the toughest species that survive, but rather those that are the most adaptable to change. Investing in resilience via insurance is doing exactly that, and can help you to survive in a trying world.

And similarly, not investing in insurance is tantamount to gambling. Every day you go on without Health Insurance Plan, for instance, you are gambling on not having any illnesses. The only difference from gambling is that you don’t stand to win anything, only lose. And what you also need to consider in the case of something like Life Insurance Policy, is that you aren’t only gambling with your own money, but also the comfort and well-being of those who depend on you.

If you do insure yourself then you have ‘bought’ resilience for you and your family, and this then will mean that you and they can rest easy knowing that it will take more than a spot of bad luck to bring your house of cards crumbling down. For the peace of mind alone it is worth insuring.

Clay Mann is an insurance agent responsible for providing Life Insurance Quotes and helps his clients select the most appropriate plan amongst the various life insurance rates available through his blog.

Biphoo

25 Aug 2017

183 Views