Do you believe Life Insurance Policy Is an Option to save money?

[Ginger]

I strongly feel its a good option to save money and you are getting Life Insurance for free if you look at this from another angle.

You can pay a premium as per your choice and for savings, it's best to go for the monthly option as you can go for settlement automatically through your bank and this way a fixed amount will be deducted/saved and you will have a decent amount after the policy tenure and in case of any mishappening your nominee will get the insured amount.


Do you believe Life Insurance Policy Is an Option to save money?

 

[eLdavis]

The use of insurance is not really a big deal here in my country, so I prefer savings thr regular old fashioned way by either using a bank account or simply keeping it somewhere.

 

[deucher]

This is not an option in my country because it does not work in a way that is beneficial for people. The whole system was invented so that people would not benefit from it. I don't have health insurance, so it's comfortable because I don't spend money on it every month

 

[Tinni]

It is true that life insurance provides an avenue for people to save money. The money that is saved in life insurance can even be drawn for the college fees of your kids if you have financial challenges in the future.

 

[Amdhone3qq]

In my country its not a big deal because some people prefer to save their money on a bank account while some people think investment it's better for them but even me I prefer both savings and investment

 

[Ginger]

I think in most countries its not popular but not sure why as in India its quite popular and majority likes to save this way and I think its a great option

 

[Scorpion]

Getting an insurance policy is a must not only for retirement but for protection against fire and untoward accidents. There is also personal accident insurance and this protects the family in case of loss of life.For retirement make sure to know it well which one to buy because there is an endowment and whole life.

 

[Stardom22]

For my own perspective on viewing things l am not in the position to take a life insurance policy for the sake of saving money on. If l would like saving money l would go for the social security in my country that they give very appealing interests rates on the principal till retirement.

 

[Sanjeev]

I don't think it's a saving option. It just gives you money if you risk your life, and it also provides money to your family members if you die suddenly. Yes, it has benefits because when your family is dependent on you and doesn't have an earning source other than you, they get a good amount of money when your family loses you.

 

[Ginger]

I feel its good because with small amount you can make it a big amount and with that you are also getting life cover