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Showing posts from November, 2017

How to check your Insurance need?

These days I’m seeing an eye-catching advertisement on Television that you should check the returns of your Insurance before buying the policy. It made me both laugh and cry at the same time. I laughed because they are actually fooling the viewers by telling them to compare returns of Insurance policies. And, I cried thinking of all the people who after seeing the advertisement will actually go ahead with buying an insurance policy for returns.
Even if you look at Dictionary, it clearly says, ‘Insurance is an arrangement by which a Company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified period.’ Yes, you read it right, there is no mention of the word “RETURN” in the definition. Then why are we all hell bound to look for returns in a product which best functions as a risk cover.
Insurance should never be taken from the perspective of gaining returns. It is like you are paying premium for …