The Insurance Gamble – 4 Possible Win-Lose Outcomes.
There are some important factors a person should consider while making the decision of purchasing an insurance cover. Some of these factors portray insurance as a gamble or a bet. Insurance is presented as a wining and losing scenario in this aspect.
For instance, if you are playing in a casino, you have the option of betting into the pot or put your money close. If you bet and the cards are a winner, you keep your money, and you get some more. If you don’t bet and you lose, you lose all you have.
Sadly, if you win in the session of life insurance, you end up noticeably debilitated or basically and in the outrageous cases, you pass on rashly. Despite this being a bad winning hand, your wealth is protected for you and your family. On the other hand, if you lose, you still get sick, but there is no protection for your life savings. In this way your reserve funds may vanish leaving you and your family without anything. This scenario is recurrent every year, and you have to decide if you have to repeat it every year.
Purchasing a medical cover presents four possible results. To start with you, you may buy the insurance and something happens. In the case you acquire a cover and something happens, you are guaranteed. You and your family will get immense measure of cash as compensation for the minimal expenditure you utilized as a part of paying the premiums.
The second situation is the point at which you purchase the cover, and nothing happens. In this case, you should consider yourself one of the luckiest ones. In this case, you have lost the premiums you paid for your cover. By and large, these premiums are only a small amount of your yearly pay. The amount is negligible and does not devastate you financially. This loss is manageable since you lose a small sum of money.
Likewise, you may neglect to purchase the protection cover, and nothing happens. In this case, you did not spend any money to purchase the insurance covers. As such, you can invest more or spend a little more towards your family’s lifestyle. In light of current circumstances, you end up winning a little aggregate.
The last probability is you don’t buy insurance and something happens. In the event that you wagered on nothing occurs in your life, and you become ill, all your savings could be depleted fast. Also, your family can’t deal with different costs like home loans In such a case, you end up losing everything.