I once came across a newspaper report of a well known insurance company that refused to pay compensation for the theft of an expensive watch.
Their insurance policy stated clearly that theft of insured item must occur while the item is being worn.
I don’t know how your watch will get stolen if you are wearing it and it doesn’t take a person with an IQ of 60 and below to see the event that your watch will get stolen when you are wearing it is next to zero.
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Got 3 categories of people do not really need life insurance cover, especially single.
Few ever knows that billions of dollars worth of life insurance policies is on single and available people with no spouse, no kids and even no parents to look after.
Who would get the death benefits?
The cockroach or hamster?
The main purpose of life insurance lies in averting a financial hardship should something unfortunate happens to you. If you are single and parents already in some lala land, may as well use the premiums for monthly car installments and enjoyed life to the max.
Do…
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Life insurance is a type of insurance whereby you pay some money to a company when you are still walking on Earth and the same company then gives beneficiary chosen by you when you are in heaven (or hell or the next incarnation).
The longer a person lives, the more profit the insurance company gained. But the shorter a person lives, doesn’t really mean he profits.
Who need life insurance the most?
Obviously, the average Joe on the street with heavy family responsibilities and little wealth must have adequate life insurance cover. Bill Gates and Warren Buffet have multi-billions dollars…
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