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| *Ostroff, Fair and Company>>>Insurance |
Do you think life and pension Insurance is useful to a person? |
I have a life and pension insurance. Is it useful for me? Can this be helpful in the future? It depends. I don't know about pension insurance or what it's really for. But as for Life insurance, if you are married and/or with children, then yes you should have it. If you are single, then I would say you could probably get away with NOT having it and saving money instead. The effect is the same since if you were to die you're not leaving a widow and kids without a source of income. Others in your life such as parents and siblings are independent of you and don't NEED a large chunk of cash upon your death. Unless you just like the idea of leaving a large sum of money to people, I would not spend it on life insurance but focus on investing your money. You might consider a small policy of like 10 grand to quickly cover your funeral expenses, but I wouldn't even do that if you are young and single. I dont know about pension insurance, but as far as life insurance--Yes and useful for your surviving family members. life assurance is used by the people you will leave behind it can pay for your funeral or any debts you have not paid off, like mortgage for example. pension is to keep you in an income when you are no longer able to work, so yes, both are very useful Life insurance is usually a good thing. Read and compare the policy carefully. Regarding pension insurance, you should consider carefully and exactly what it covers. Then you should consider what it excludes. Then consider whether it covers thing that are likley to happen to you. Does the things that it excludes sound like something that you might need in the future. Remember Enron and Worldcom. Ok. |
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