Kathmandu. Insurance is understood to be a spoken means of risk transfer. In recent times, however, there have been many examples of comparing insurance to bonus rates. When an agent offers insurance to someone, they ask, ‘How much is the bonus rate?’
Insurance protects wealth and human life. Therefore, it is better to look at the coverage of risk rather than bonus in insurance. Just like keeping money in the bank gives interest. Similarly, there is definitely a bonus in the insurance company. Still, insurance benefits in a dual role.
On the one hand, insurance covers the risk of human life and physical property, on the other hand, savings as well as a lump sum refund after the completion of the insurance term according to the prescribed bonus rate. Therefore, it is necessary to insure the protection rather than the bonus rate while insuring.
In recent times, insurance proponents have argued that there is no benefit of insuring customers when they go to get insurance. There are also many people who make different arguments by comparing both the interest rate given by the bank on a monthly basis and the bonus rate given by the insurance companies when keeping a lump sum amount in the bank. In their view, the interest rate on deposits given by the bank is better than the bonus rate given by the insurance company. For this reason, insurers look for equality in the bonus rate given by the insurance company like the interest rate given by the bank while insuring.
On the other hand, when depositors keep money in the bank, they get interest rates only on the basis of the amount kept. However, insurance companies get a lump sum refund along with the bonus rate as well as various services, including risk bearing, bonus rate. Insuring requires insurance to bear the risk rather than the bonus rate.
Insurance covers people of all ages, levels and strata. There is no age limit for insurance. According to the source of income, you can be insured on the basis of the premium you can pay. People’s lives are uncertain. We don’t know at what time the risk or future may arise. Considering the various risks and uncertainties that come in the lives of this person, life insurance is very important for everyone.
Lately, people are looking for good bonus rates to insure. However, it is advisable to insure in view of the risk rather than the bonus rate. Insurance is a risk transfer. Insurance is the best way to deal with future crises.
There are ups and downs in every situation in a person’s life. No risk comes in a person’s life by playing a musical instrument. Therefore, it is better to insure by looking at future risks rather than looking at the bonus rate. Insurance is indispensable for everyone to meet the risks and challenges that come in the future. Therefore, everyone needs to be insured keeping in mind the risk cover rather than the bonus rate.
