Few month ago I was fined for driving without having my vehicle insurance. My vehicle had failed and I was challan by the traffic police. I always used to wonder why to pay for vehicle insurance. Even if it damages on road, why the government has anything to do with the insurance part. Why it is even required to be legalized. But later I understood, having an insurance is always better to avoid losses due to uncertain events. The vehicle insurance ensures compensation for victims of accidents involving injury, death, or property damage caused by the vehicle. It protects owners from heavy legal liabilities and financial ruin. And I believe recovering something at the events of mishappening is worth than losing everything in one go. Insurance is a lifeline that protect us from unwanted losses.
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In 2007 I was very critical due to typhoid. The virus hit me badly and I was made to hospitalized for few weeks. Getting a hospital in metropolitan cities is always a expensive bet as the cost of medical is quite high. Still after spending couple of weeks in the hospital rooms, I have nothing to pay. Thanks to my insurance cover, that allow me to cover all the expenses. When I checked on the bill the amount was too high, and if it was not the insurance, I would have never recovered from the criticality of my health. So my health insurance was proved to handy and all the sum that I paid as premium till that day had worth.
Coverage that cares.
In my country most of the people have covered themselves from insurance. Insurance is hot selling things for any individuals. They like to cover everything with insurance to avoid any major losses. From life, to vehicle to home to shop to other forms of insurance. On the hand some people assume that paying insurance premium is waste of money as they never get to recover and it is kind of financial losses for them. I personally believe that paying insurance premiums is generally not worthless, but rather a risk transfer mechanism designed to protect us from significant financial ruin, such as high medical bills, accidents, or the loss of a breadwinner. While it can feel like wasting money if you never file a claim, insurance acts as a unexpected fund that provides peace of mind and essential safety nets. Life insurance provides essential security for dependents, ensuring they are financially secure if the policyholder passes away.
In good faith - Peace!!
