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Insurance Policies: Do We Really Need Them?

Publish Date: 09 Aug 2020

Money Tips

Insurance Policies: Do We Really Need Them?

Find out more on the benefits and types of insurance available

The idea of insurance policies is relatively new and not very popular in Egypt but in many countries they are an essential part of life. From car insurance policies to health and life insurance policies many people around the world can not contemplate not having one.

 

Are insurance policies an exaggerated product or not? Let’s find out.

 

There are many types of insurance policies available but the most important ones are:

 

  1. Life insurance policies.
  2. Health insurance policies.
  3. Property insurance policies.

 

Isn’t getting health insurance a bad omen?

 

Many people in our society believe that getting an insurance policy invites bad luck to knock on your door and that if they do get a life or health insurance policy they are challenging the universe. 

In reality having health insurance is helpful especially if you have a family because if God forbid you get sick or are in an accident and are unable to work as a result the insurance claim would help greatly and at the same time pay your medical bills. 

 

Insurance policies help secure both your and your family’s futures.

 

Are insurance policies obligatory by law?

 

So far, no they are not however a recent law was presented to parliament to make car and commercial property insurance obligatory. There was even a proposal for divorce insurance policies. 

 

Benefits of insurance:

 

  1. If an accident or damage occurs to your assets you know someone has your back when it comes to expenses.
  2. You can insure your children’s future education so that in case something happens to you their educational expenses are provided for.
  3. Car insurance policies help you pay repair fees if you are in an accident. Coverage depends on the terms of each policy.

 

In conclusion we can definitely state that insurance policies are very good to have. You don’t need to worry about your future or your family’s future. 

Getting an insurance policy does present an extra financial burden no doubt which is why you should always find the best policy for both your needs and financial means. 

 

Get an insurance policy now through Faydety.

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