Why You Should Not Wait Anymore To Buy Insurance?

Why You Should Not Wait Anymore To Buy Insurance?

Insurance is not just a Tax Saving tool, but its use is very extensive. Insurance can be termed as that amount which is being used only in case of any uncertainty without touching actual savings. Investment done in PF, FD’s, Mutual Funds etc. is done for long-term financial goals like buying a new house, child’s higher education in foreign country, arranging money for daughter’s dream wedding and retirement planning. Insurance and investments, both cater different need of an individual. One can still timeline the financial goals of life, but uncertainties cannot be time-lined. One can postpone financial goals for two-three year, if he is not well-prepared financially, but uncertainties are like gate-crashing, they come as an unfortunate event and usually cannot be postponed.

Here are the few factors which explain the need for insurance in the current scenario

1. Rising cost of treatment: Advancement of technology has reduced the time taken for certain medical procedures, but the skill and cost involved to use these technologies is higher than expected.

Impact: These advancement of technologies in hospital are increasing the over all cost of treatment which indirectly makes the big whole in the pocket of common men while undergoing treatment that too unplanned one. Even a health insurance can only help if a person is sufficiently covered.