India today has an estimated population 1.27 billion where major section of the society is either illiterate, live in grass-root or backward areas. Uneducated people are unaware about various facilities that are available to them for e.g. Insurance Schemes. Due to lack of knowledge and exposure they remain laggards. Moreover, not only the rural sector but some educated and urban residents also believe that the insurance plan is of no use to them.
Following are some myths about why people say they do not require insurance plan:
People believe that they are young and fit enough, so what is the need of insurance plan.
Although if you are healthy, young enough and living your life in comfort but uncertainties are uncertain in life. You are never aware of what is going to come next in your life. Seeing the health graph in India, India has topped in the list of countries having the maximum cases of diabetes that is more than 50 million. Above all, cases of obesity are increasing with a tremendous speed which is a major cause of cardiac attacks and various other critical diseases. Therefore, you should be well prepared if in case such problems come before you, this will not only safeguard your savings but will help overcome the risk.
Why save money when I have a secure income.
Whether you have a secured income through which, you can meet your basic expense. However, still at this point of time when there is a price hike in each and every sector, you will have thousand other reasons why you should have an insurance policy and secure future of your near and dear once. For example Education Fund, Retirement fund.
I can take help from Social Security Organizations in case of an accident.
Making it very clear SOCSO only provide assistance to work-related diseases or accidents which occur during work at an organization. However, if you have your own medical insurance or life insurance you can get assistance in the work+ non-work related accidents and diseases.
Have no dependents so why to go for Life insurance.
Life is full of uncertainties, therefore, one should be well prepared to face different circumstances at various stages of life. It is not necessary that if you have any dependents only then you need life insurance; it secures your savings to overcome future uncertainties that could harm your saving and may even make you bankrupt.
"And above all Insurance gives you a sense of security!"
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