Do We Need Insurance

Having insurance sounds strange to people in the rural area especially in the third world countries and development countries. There are various type of insurance that we should consider before make any decision depending on your needs.

Some making decision to have an insurance based on the family, that is they want to protect their family against death, illness, disability and any cost effected by the accidents. For example, if we die, insurance will provide a surviving spouse and our children. It can help our family to cover the living cost.

People which have a car or transportations should have auto insurance that will cover any damage or injury caused by an accident. Some insurance agency has offered 100% on the death of the participating resulting directly in and independently of all other causes from accident injury effects solely through external, violent and accidents.

If you are working person, it is very important to have a disability income insurance that will replace a portion of your lost income, when you are unable to work for an extended period. Anything can happen in the future that we don’t know. One day may be we need it, so it is better to be prepared.

Instead of having a good benefit from the insurance, we should take account that insurance will not cover all the cases depending on the types of the insurance policies. For example, the insurance will not cover any damage, disability due to war invasion act of foreign enemies hostilities, civil war mutiny civil commotions assuming the proportions of a mounting to a popular uprising insurrection rebellion military, usurped power, act on any person acting on behalf or any organization actively directed towards the overthrow of any government, or ruling body by force terrorism or violence.

Insurance will not cover the damage or disability caused by suicide, attempted suicide or if you willful self injury, indulgence in alcohol, narcotics, drugs, insanity or venereal diseases. Any cost happened prior to inception of coverage also will not be covered.

The other factors that the insurance will not cover at any circumstances are any breach of the law by the participant or any assault provoked by him, involvement in any underwater activities necessitating the use of artificial breathing apparatus, injury caused by nuclear fusion weapons material or radioactive contamination, acquired immune deficiency syndrome (AIDS) and any AIDS related conditions.