The person who accepts a loss of 200 million, the person who advises to buy for the sake of gaining enough sugar

Life insurance (referred to as insurance) is a contract between an insurance policyholder and an insurance company, in which the insurance company promises to pay the beneficiary a sum of money with a commitment condition. some. However, many people still think that this is a form of investment and are willing to spend tens to hundreds of millions of dollars on it. So in the end, should you invest in insurance or not, listen to the insiders answer!

Accepting a loss of 200 million, losing enough because I can’t follow

Ms. Ha (Hanoi), who invested in buying 4 insurance policies for her family worth more than 80 million per year, shared: “As a person with long-term thinking, with the couple also having a regular income and a house, I thought of buying life insurance as a form of investment not only in health. but also the finances of the whole family.”

According to Ms. Ha, because she finds that the benefits of life insurance are quite high, the protection is wide, especially after deducting maintenance fees and risk fees, the remaining amount will be added to the accumulated account. calculated according to the company’s committed interest rate from 5% to 6% or more, higher than the current bank interest rate, so she feels extremely satisfied.

However, since the outbreak of Covid-19 caused her business to be greatly affected, maintaining expenses is difficult enough, let alone paying for insurance. Moreover, she also believes that insurance still has some shortcomings such as only paying for inpatient treatment, while when it comes to medical examination, her family mainly examines outside, so insurance cannot be effective. In addition, insurance does not cover most diseases, so she is also very upset.

After thinking about financial conditions for a while, she decided to cancel the contract after 3 years, accepting the loss of the paid amount of more than 200 million VND.

Similar to Ms. Ha, Ms. Ngoc (35 years old, HCMC) shares the same concern because she wants to buy insurance to prevent illness. Ms. Ngoc buys 2 insurances for her and one for her children with a total annual payment of 40 million.

However, her insurance was in a state of “orphan” due to the sudden resignation of the insurance agent. “I had a situation where the insurance staff did not give careful advice and care, making it impossible to receive any money when hospitalized”– Ms. Ngoc confided. In the end, she decided to cancel because she thought it was not worth it.

In short, buying insurance policy is always considered by many people as an investment in their health and finances. However, without carefully studying the contract and following up on the terms and conditions of the insurance, many families encounter ironic situations where they are not reimbursed by insurance for their injury costs but also suffer. loss for cancellation.

Insurance is not an investment, but if you know how, you can make a profit

Contrary to the views of Ms. Ha and Ms. Ngoc, Mr. Thang (35 years old, Buon Ma Thuot) – has been buying life insurance for his loved ones for 5 years, sharing that insurance is not an investment for him. but as a hedge against health and financial risks.

“Seeing people keep saying that insurance is profitable, I find it strange, insurance is used to prevent unforeseen events, not to invest for profit”. He thinks that, thanks to insurance, it is easier than ever to pay for his father’s hospital bills. “If there is no insurance to help, it is really difficult to manage large amounts of money such as hospital fees and other incidental expenses”– I said.

Besides, Ms. Tinh (40 years old, HCMC) also believes that before buying insurance, each person needs to consider their finances, and at the same time carefully read the contract and the terms covered by the insurance to avoid unfortunate case of loss of money. “I see that people always think of a rosy scenario when buying insurance but forget to read the insurance content to see what’s going on, the black and white paper is all written down, so you should read it carefully to avoid misunderstandings.”

It can be seen that if you are considering buying insurance for profitable investment, you are wrong. Buying insurance today is just a backup tool for unexpected risks and emergencies. And if you want to take advantage of insurance, you need to pay attention to carefully study the contract and terms, choose the right insurance for you.

So in the end should buy insurance or not?

Before researching and starting to choose to buy insurance, you need to master a few small notes to avoid the case of “loss of money”:

First, You need to define who you are and what you want from insurance. Determining your needs before buying insurance is very important, not only helping the consultant to assist you with exactly the type of insurance you need, but also saving you time on priceless insurance. self-defeating and unsuitable.

Second, Are you financially stable? This seems to be the most difficult question to answer, many of you ask how to know you are financially stable to follow insurance, the answer lies in your income and financial ability. If you have financial capacity and income higher than your current living standard, have savings, it will be easier to buy insurance.

Tuesday, identify the breadwinner in the family to buy insurance. Buying insurance for the whole family, each member is considered ineffective. So you need to consider which member is the mainstay and has the most risk to buy insurance in a more economical but effective way.

Wednesday, Carefully study all policy terms and exclusions of insurance. This is one of the factors that should be considered carefully before you sign the contract. Obviously, the “dead chicken pen” should be clear and understood from the beginning to save you trouble later.

Finally, keep in mind that insurance is not a profitable investment, but only for personal protection and long-term financial health and wellness.

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