Most of the people dont understand the actual & premier significance of Insurance. Its true actual meaning is as under: Its a promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company or we can say protection against future loss.
If you see the bonus what insurance co. are offering they are not that much high...many people go for insurance to save the tax and its real objective remains secondary. I have worked almost two yrs for Insurance Sector as a technology consultant. There is huge scope for making people aware about insurance In India. Given a chance I would prefer Insurance to protect my family first, for investment I have plenty of options that can give me higher returns than insurance.
If you look at premium for only protections they are very low and any common man can afford it to pay, eg if you are 25, you can be protected for 5 lakhs at the cost of mere yearly premium of say 1500, which is nothing but a one time shopping on our dress. I have seen people saying...whats the use of this for us if its not giving any returns???? tell me who else will give you such a big value for your life in such a rising uncertainties?????
Why do we expect to hit two birds with a single stone???
RE:Why insurance is not investment
by MPG NAMBIAR on Jan 04, 2008 08:20 PM
sunil. it is a wonderful article. i am also in insurance with MAX. thanks for highlighting such valued side of insurance. nambiar mumbai 9821146498
Most of the people dont understand the actual & premier significance of Insurance. Its true actual meaning is as under: Its a promise of reimbursement in the case of loss; paid to people or companies so concerned about hazards that they have made prepayments to an insurance company or we can say protection against future loss.
If you see the bonus what insurance co. are offering they are not that much high...many people go for insurance to save the tax and its real objective remains secondary. I have worked almost two yrs for Insurance Sector as a technology consultant. There is huge scope for making people aware about insurance In India. Given a chance I would prefer Insurance to protect my family first, for investment I have plenty of options that can give me higher returns than insurance.
If you look at premium for only protections they are very low and any common man can afford it to pay, eg if you are 25, you can be protected for 5 lakhs at the cost of mire yearly premium of say 1500, which is nothing but a one time shopping on our dress. I have seen people saying...whats the use of this for us if its not giving any returns???? tell me who else will give you such a big value for your life in such a rising uncertainties????? Why do we expect to hit two birds with a single stone???
RE:Why insurance is not an investment
by vijayasaravanan sekar on Apr 07, 2008 10:19 AM
for such kind of people who neglect term insurance for the sake of nill returns, ulips are better
Why is not insurance an investment? Not only, my client gets 60%PA richer thanx2 a bima plan (where u get this much?)but also got Rs. 5 lacs for heart attack he suffered(though his surgery bill was Rs.300000) , he also has additional gift of life risk cover of Rs. 10 lacs. Also my co. promised 2invest his premium amount Rs.1 lac PA 4his kid's benefit,for whole 20 years if he dies to-day. he also have freedom to deposit ZERO premium henceforth for 20 yrs,(as he has completed 3 years membership,) still his risk covers continues. ------NIMI_SA@rediffm
i have already invested Rs20000 in icici pro life p-2 plan , i want to invest further more about Rs 40000 , which is the best option icici pro life or mutual fund or jagran prakann issue.
