Insurance Advantages And Disadvantages
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| Insurance Advantages And Disadvantages |
Insurance is a guarantee to protect a valuable asset
that belongs to you. If the assets you protect are damaged, you can claim
damages for the damage. However, before using insurance, it is important to
know the advantages and disadvantages first.
# Insurance Advantages
• Future guarantee
The future is a mystery of God. No one knows what
will happen whether it will be healthy, sick, catastrophic or safe. If you are
worried about the future, you can prepare for it by buying insurance.
For example health insurance, life insurance, car
insurance, and others that can guarantee a good future. And there are many
other types of insurance that you may need to prepare for bad situations in the
future.
• Help manage finances
When you sign up for insurance, you will be charged
a monthly premium. By being charged this additional fee, you automatically save
money on consumables and items that cannot be used.
From here you can learn what to prioritize and what
not to prioritize. What is important and what is not so important. Not just
what is needed or wanted.
• Can transfer risk
Having insurance means that your insurance company
will cover the worst risks if something unexpected happens. Overall, the actual
premium paid is relatively small compared to the loss.
# Insurance Shortage
• The scope of claim submission is limited
For example, auto insurance has provisions for
damages that the company may or may not cover. Therefore, you need to read
carefully and thoroughly what is or is not covered by your insurance policy.
If it turns out that the damage to your car is not
covered by insurance, you will not be able to make a claim.
• Funds are forfeited if the premium is not paid
The downside of insurance schemes is that funds can
expire if premiums are not paid in the future. If you stop paying premiums, be
it in the millions or tens of millions, it is considered a forfeiture.
Be careful not to stop paying premiums if you don't
want your payment balance to expire.
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