Kathmandu. Insurance is a means of transferring risk. However, in recent times, there have been many examples of comparing insurance with bonus rates. As soon as an agent proposes insurance to someone, they ask, “How much is the bonus rate?”
Insurance protects wealth, property, and human life. Therefore, it is better to look at risk coverage than bonuses in insurance. Just like keeping money in the bank, you earn interest. Similarly, there is a bonus in the insurance company. Still, insurance has a dual role.
On the one hand, insurance covers the risk of human life and physical property, while on the other hand, savings as well as a lump sum amount can be returned on the completion of the insurance term as per the fixed bonus rate. Therefore, it is important to insure the insurance by considering the insurance cover rather than the bonus rate.
In recent times, insurance proponents have been arguing that there is no benefit of going to the customer for insurance. There are many people who argue that when they keep a lump sum in the bank, they compare both the interest rate given by the bank on a monthly basis and the bonus rate given by the insurance companies. In their view, the interest rate of deposits given by the bank is better than the bonus rate given by the insurance company. Therefore, insurers look for equality in the bonus rate given by the insurance company similar to the interest rate given by the bank on insurance.
On the other hand, when depositing money in the bank, the depositor gets only the interest rate on the basis of the amount kept. However, the insurance companies get a lump sum refund along with the bonus rate along with various services and facilities. It is more important to insure the risk than the bonus rate.
Insurance covers people of all ages, levels and walks of life. There is no age limit for insurance. You can be insured on the basis of the premium you can pay, depending on the source of income. A person’s life is uncertain. You don’t know when a risk or a disaster might arise. Considering the various risks and uncertainties that come in the life of this person, life insurance is very important for everyone.
Lately, people have been looking for a good bonus rate for insurance. However, it is better to take insurance 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 from playing musical instruments in a person’s life. Therefore, it is better to insure by looking at future risks rather than looking at the bonus rate. Insurance is indispensable for everyone to face the risks and challenges that may arise in the future. Therefore, it is important for everyone to take into account the risk cover rather than the bonus rate.
