Insurance or Investment – To provide a guarantee of security in the future, many communities are already vying for financial products. However, two of the most popular products are products like insurance and investments. Both products is a must-have in the era as it is today. Ideally is everyone should have both products.
The function of insurance is that it may get the protection of a person or family in terms of the financial risk that the arrival of sudden or unexpected. While the function of the investment is to meet the needs of the future so that the purchasing power that is owned by someone not depleted by inflation. Both of these financial products is a very important thing.
Select the Insurance or Investment?
Which Should take precedence? Insurance or Investment?
One thing that has always been debatable is if the amount of property that you own is very limited and cannot include both those things. Which should take precedence? Insurance or investment?
Many think that both of these things have a lot in common and you need to do is simply choose one between them. It is wrong. Buying insurance can’t double the money you have. Unfortunately, there are still many people who think so. Insurers have no concept of development money as in investing. The concept of insurance is more aimed to anticipate the risk of emergence of things outside of allegations such as sickness or accident.
With the onset of things like that, then you can get some money as a form of coverage you get. The dependents you get money because you have to pay insurance premiums with regular before. But if not things happen unpredictably as has been mentioned, then the premium you have paid will be forfeited or become the property of the insurance company. In general, the insurance for individuals can be divided into accident insurance, life insurance, critical illness insurance, and health insurance. Each of these insurance products has different benefits.
What If The Fund Is Limited?, Insurance or Investment?
Back in the original question. Which should be a priority if the funds owned is extremely limited. Do you have to have insurance in advance or invest as soon as possible? For those of you who worked as an employee in an Office, in fact, You’ve unwittingly benefit insurance. But what about that don’t get the feature?
If the Fund is indeed very limited, that should be your choice is insurance. Prioritize investment rather than insurance because if there is a risk of such an accident, new investment is executed will not be much help. That is because of the value of the investments that tend to be small and still have not been able to meet your financial needs and their families.
As time goes by, your financial circumstances when already inflated new later you can start investing. It is appropriate to the situation realistically. If you have a healthy body and mind, you can definitely find ways to increase the revenue yield.
Tips On Choosing Insurance
Here we add a few tips for you in choosing insurance:
- Select the insurance product on the insurance companies that have been recognized and has good credibility. So much easier, you can do a search on the internet about the best insurance companies.
- Because an insurance company gives a great selection of insurance products, it’s good if you’re not in a hurry in choosing the product that suits your needs. Use your time as well as possible to vote.
- Note well the terms and conditions imposed by the insurers. It would be better for you if ask you some points that the less you understand.
- Understand the details of the insurance policy that interest you. Know any event covered by the insurance.
- Make sure that you pay insurance premiums in accordance with your financial ability.
- Cases that often occurs is the difficulty in getting the cost of the coverage. Learn clearly what procedures must be undertaken to be able to do a claim.
Back at yourself
Is it possible if investing without having any insurance? That question of your own that can answer it. It actually could have been done if you dare to bear the risk. But the risks can be avoided if you could start a pattern of healthy living in order to avoid the oncoming disease which will drain your money.