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Why Insurance Is Never A Waste Of Money

Biphoo

22 Aug 2017

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Why Insurance Is Never A Waste Of Money

When you Get Car Insurance or Life Insurance, you are insuring yourself against something bad happening. In other words, you are making an investment in the future paying a set amount now so that if something bad should happen you will be financially rewarded and get your money back just at the time when you need it.

The paradox of Best Life Insurance Companies is that you actually want to lose money if all goes well then you will never cash in on payout and this will mean that you don’t get the money back. Does that mean it’s useless? Not at all because of course if you are to cash in then this can be a huge deal and save you from going bankrupt or losing your way of life. In business this is called ‘resilience’ and it means that you are more able to cope with the unexpected. You are ‘buying resilience’ in this sense and while you might not get the money back – you will have bought the security which is highly valuable.

And it’s important to remember that you never can predict what is going to happen. When it comes to driving, you could be the best driver in the world but that won’t help you if your wheel breaks when you are driving, or if the person in front slams on their breaks without warning. And you might be in the best and Affordable Healthcare Insurance, only to suddenly drop dead. What makes this all kind of scary is the fact that it only needs to go wrong once to land you in trouble.

In his book ‘The Origin of Species’, Darwin noted that it is not the smartest nor the toughest species that survive, but rather those that are the most adaptable to change. Investing in resilience via insurance is doing exactly that, and can help you to survive in a trying world.

And similarly, not investing in insurance is tantamount to gambling. Every day you go on without Best Health Insurance Companies, for instance, you are gambling on not having any illnesses. The only difference from gambling is that you don’t stand to win anything, only lose. And what you also need to consider in the case of something like life insurance, is that you aren’t only gambling with your own money, but also the comfort and well-being of those who depend on you.

Biphoo