Image source
Living in this momentary world we all are pendants with an insurance policy that would not only benefit us but also will provide backing to our offspring. So what's the widespread point of view regarding it;
Image source
Money ;
I don't think it's the security which will assist, although it is valuable it can be reasonable only for a short duration. Suppose you have conserved a sufficient amount for the kids for the forthcoming years so that in case of your death it would encourage them to live life. But we all know very well that price deterioration is transpiring each day. Supposedly, if I confess that I have saved 5K for my prospect, it wouldn't be enough to deliver them a good living. Maybe in the past, my predecessors saved 3K for me too but now what I can acquire from this tiny amount is 2-time food for a week's worth of food and nothing more. This can't become my life preservations if you stare at the trends specifically about crypto.
Image source
Crypto as the future;
Physical money is relinquishing much of the attention because of digital currency. In all aspects, crypto is far more promising than this paper money. But still not each country is supportive enough. If I glimpse at my country's crisis it's getting terrible when talks about crypto do arise. Because of money laundering and black money,
the government of Pakistan is not inclined to allow this monopoly.
I am also a struggling student and I have compensated my fee by writing on the crypto sites, and I guess there is nothing untrue about it. I was an accountable citizen and still, I have the same tag. If they are having the issue about fraud, where do they go? Let me share the scam I confronted.
Image soure
I lost 30K in September because of the scam. The number was similar as the bank has but the only issue transpired with the 1-2 digits. My father approved the call, they told him about the blockade of the ATM card. He was so scared that he led the way home and made me dumb too. I lost my nerves too . While talking with the scammer for once I forgot about the competent behavior he was having. He comprehended the phone number, CNIC, Name, and even more info about the account. The misstep which I perpetrated was the sharing of the one-time password. He made multiple transactions but I only received one message and it was regarding the withdrawal of 50K and in the meantime, the account has vanished. He hasn't left even a single penny. The second day my brother sent 50K more and he wasn't conscious about what happened. Soon as I examined the message about the deposit and noticed the total amount was only 50K. I rushed to the ATM and made a timely transaction. Meanwhile, my family was knowledgeable about the scam. I registered my complaint in the bank and blocked the online and credit card banking. When I was conducting the procedure I noticed the bank person who was inserting his nose in the matter. He was susceptible to me. I got an impression that such people are the ones who drip the info about the holders and scams are being accomplished. The story in short, the loss I encountered was not returnable as I shared the OTP on my own Choice and the scammer on the other side did online shopping so there was nothing in my hands now. My mum is a housewife and she was uttering profanity to the scammers.I do know how innocent people misplace their assets because they don't have an understanding of how they may be being made a fool easily. Now the purpose for narrating this story is to point out the cybersecurity companies which are considering crypto as scammy. If you have internet connectivity it's not an issue to see the things on the blockchain. I guess I got off track but let me get stuck on the point
" money isn't life insurance"
Gold ;
Maybe someone would conclude this as an adequate choice, as in my culture Gold is being given to daughters as life insurance. But you can't anticipate that the prices of gold are still in the thousands. So it could be beneficial but not in the long run.you can utilize this opportunity for once, but what else can be the source of betterment for your whole Life not the clothes or the gold bricks. Not even the crypto token but the most significant life insurance is decent education.
Image source
Education as a life insurance policy,
The community where I am living doesn't permit the education or job of girls either. I am not the feminist but at least both these rights are being bestowed by my religion Islam. If you want to get outside, the caring and loving parents would send a person with you for sure. This isn't assurance, in fact it's the additional comfort that you are lending to your girls. But you can't make sure that at each stage of life she will have the exact privileges,love and comfort which you are furnishing her. You can't even assure your own life so how could you foresee her promising future ? I am doing my master level studies not for the reason that no one has approached me for the marriage proposal. My family wishes for a decent future as every parent dreams for. But they haven't made me paralyzed. I mean they have cracked my comfort zone, my education is not to attain manners to behave and exist as a good person. Instead, the objective is to make me independent. My education is my life insurance. The talent I have now can be used in the long term. The degree and knowledge I hold would support me in making my future bright.
Image source
Conclusion;
You can't bring life insurance for your girls, or there is no policy which would assure a brighter future for your Daughter. What you need us to take her out of her comfort zone. Good education can assure her a good career and support if he is not going to fulfill it. Still he knew to move forward. Your daughter can also secure the prosperity of this country if she would participate well in fulfilling her assigned role. So don't restrict her either from education or career. Make her the one who could illuminate your name.