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With the uncertainty hanging over our head, we never know what is going to happen? We do not know whether we are going to reach home after leaving office. We do not know whether we are going to return from the hiking trip that your friends are arranging next week. We do not know whether you are going to be alive in the next second.  We do not know when we are going to be the victim of death. The concept of “All men must die” is pretty scary, right? So, what is your backup plan then? What are your children going to do if you are not here starting tomorrow? Well, the answer is the well-known and notorious “INSURANCE”.


Insurance is an actually a medium of protection or security against a financial breakdown or any valuable object. Human life should not be treated as an object but it is treated as a mere object in the Insurance business. Whether it is right to do it since we need to draw a line between business and emotions or not, that is a moral debate based on values or ideology of any society but we should not indulge ourselves in the debate and we should stop beating about the bush and come straight to the point. “HOW TO GET MAXIMUM COVERAGE WITH LOWEST COST?”


The above-mentioned question is one of the most asked questions in the insurance industry. The cost of the insurance is the cost that the customer pays to the insurance company in return of the insurance. The company, then, provide insurance to the object with financial compensation in case of any loss.

The question is still unanswered. One thing must be made clear. If the company, you buy an insurance from, have an expensive or premium plan, they must have been offering something more to their premium customers as well. So make this very clear that cheap means fewer services at any level. But then again, the question remains that how can you optimize your coverage for maximum value with the cost function optimized for the absolute minima. One simple line: Do your homework.


Getting quotes from various companies helps. As tiring as it sounds, it works wonders in the long term. You must be willing to learn all the difficult and boring financial terminologies regarding the insurance industry. Learn the basics of the industry and then go for the type of insurance that you want to purchase. Learning about the compulsory is not of much importance since you cannot do much about it, but the optional s are the real deal. That is where you have the scope to effectively optimize your spending. You must know what you need and what a mere formality for your particular needs is.


You must be able to choose the optional aspects of your insurance policy with a clear mindset of your requirements. Because, if you are not specific about your requirements, the sales-con-men can trap you into their webs of hospitality and send you down the never-ending drain of overspending with mere minutes of communication.

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