by Cecile Cinco
Is insurance good or bad? It depends on how you look at it. Generally, insurance is good. You get financial return for the loss of whatever it is you’re insuring which is a lot larger than what you paid for. Comparing it with a bank time deposit, it is still a lot larger.
When does it become bad?
- When the company has not enough reserve.
- When your non-life insurance just ended without having to claim anything. (It’s more like, if-I-knew-nothing-would-happen, then-I-shouldn’t-have-gotten sort of reasoning.) Not bad at all since nothing happened and what you bought is your security that if ever something happened, you’re financially going to claim.
If you’re the breadwinner and you love your family, better be insured as death is sure to come to any of us. It’s just a matter of asking when. When your family loses you for whatever reason, should they also lose your financial support? If your answer is no, then go for it. Cheap insurance is now available.