An Awarness about life Insurance-A public Awarness initiativ

Good Job Siva...........

Sorabh

Originally posted by : Sorabh Gupta
	Good Job Siva........... Sorabh

 Thanks Mr Sorabh

Please clarify my doughts about who needs insurence and who does not with appropriate reasons.

1) does Mr.Mukesh Ambani needs insurence ?

2) does Mr. Ratan Tata needs insurence ?

Thanks in advance.

Ramesh

Mr. Ramesh Why dont have money like Tata ,Ambani......... Your answer will automatically answer of your question...................

"Good job  Sorabh, n shiva..."

Mr Ramesh R.Patel

Cool reply given by Mr Sorabh Gupta

coming to Your query I say every one needs Insurance  it applies  even to the richest

Stories and Instances are many  regarding persons who suffered by not taking Insurance

Let me give  some exampleSuppose You buy a house on Loan and You are the only bread winner for your family .After passage of time some twist or turn happens  and because of your  loss the loan burdern shifts to your family members namely your spouse this could be avoided if You take an insurance immediately on the value of the loan you availed

Lets speak of General Insurance here  though not relevant since you asked do rich people need Insurance since conceptsabout insurance are same

For example a shipping Comapany Insures it ships you know the value of one ship.when the shipping company Insures it ship with A Insurance Company that Insurance Company will immediately will reinsure (i..e) it will dilute its risk with another insurance company

Let me wind up by narrating two actual Instances happened narrated by an Insurance advisor

Insurance agent approached  a Chartered Accountant for taking an Insurance Policy.CA said I know everything about Insurance  and that too I am a CA and very Young and you need not teach anything to me about Insurance .He being a bread winner died in an aircrash while  travelling and thereby his spouse and others are put in jeopardy by not taking an Insurance on Life

A Lady who sells Fish in the Platform Market learnt about one Insurance Policy and the benefits that delivers and approcahed that agent to give her that specific policy and the premium was little bit high but even then she struggled a lot and successfully remitted all premiums till maturity

Hope every thing would be clear now

Dear friends,

  With due respect to Sivram & Saurabh, You have not understood my questions. Me being a Doctor have seen death very closly and frequently. Every Insurence agent while tring to convince you to take policy , puts fear of DEATH in your mind. in my questions Mukesh Ambani has dependents but Ratan Tata is a Bechelor. LIC calculates VALUE of human life and then advices to take appropriate amount of Insurence. What will be value of life for above two industriealists ? Don't you think there is something wrong in Basic assumptions of LIC. and above all How many Agents sell Pure Vanila term plan ? common man is always at the recieving end for high premium policies. does LIC have any control on their agents. these are my personal thoughts , you may not agree.

Thanks.

Ramesh

Dr Ramesh I appreciate your feeling, & feel sorry 4 our reply . Becoz in this kind of communication (Written) we didn't see the feeling of other person, we didn't see the face expression of other person & we decide such thing only by thier question. & at that time we felt that your question is some thing silly.

But your doubts is natural. & very near to reality........................In fact i didn't take the policy.Becoz i think that without person what is the use of money but on the other side i feel that it is necessary for your family & fufture...................I suggest you the you must go to the purely life insurance policy & dont compare your life with ratan tata , ambani , birla etc............becoz they earn lot of money but they dont have time to spend it & it automatically saves it for family & we earn mony upto limit & also spend mone for life so saving upto limit for family . Thts why we must go for life insurance policy.................. 

Mr Ramesh

I think Mr Sorabh has pretty well explained your query and in this post I didnt make other elobrate discussion about agents who doesnt  talk about  Plain Vanila plan like Term Insurance  in this thread as it is  not the subject matter .this thread gives only a general guideline to make aware of  what is What

and with regard to coverage I would request you to make suitable calculations and go accordingly based on your cash flows and committments.Generally  the thumb rule says you should have coverage of 20 Times Your Annual Expenditure + Liabilities .

Though in India many are under Insured  still I request You to take Insurance by having this thumb rule and increasing it gradually as your cash flow improves