How to Retire with the Best Insurance Product

[Mika]

The primary motive behind buying an insurance policy is to get monetary compensation from the insurance company if you encounter loss or damage to your insured product. Apart from the financial compensation, you also get monetary value from your insurance. For example, if you have term life insurance, you can get money when your insurance matures and in the meantime, you also get financial coverage against accidents and diseases. Therefore you can also buy insurance policies as your retirement plan.

Let’s say you bought 20 years insurance policy when you were 30, by the time you reach 50, you will have insured money, which you can use as your retirement benefits. Actually, buying an insurance policy, especially the term life insurance policy can actually be one of the best ways to build your retirement funds.

Not just term life insurance, you can also buy multiple insurance products. Some insurance products work just like your normal pension plan. For 10-20 years, you will have to pay premiums regularly, and once the term ends you will be receiving funds from your insurance company for 10-20 years or until you live. Some insurance products offer you cash returns every 5 years, this product can be the best if you need to build investment funds.

 

[saoussen5765]

Half of employees doesn't work with any kind of insurance contract as they aren't employer they couldn't pay for insurance for themselves, the employer want to escape from insurance fees especially there is a minimum monthly salary they couldn't be lowered from it or pay even little money. So in this case some people are saying that the employee must pay insurance for himself and not waiting from his employer to pay any kind of insurance subscription or VAT as employer won't aggree for such thing. Also a culture must be spread into employees but they say money doesn't feed them so why paying for insurance?