Insurance is bought in order to cover the risk of financial losses arising out of unforeseen future circumstances. It’s a method of ensuring that in case an unexpected unfortunate event takes place, the present and future financial wellbeing or financial support received from the insured is not compromised. Insurance provides us with security and protection..
Life insurance is one of the basic pillars on which your and your family’s financial wellbeing stands. It is used to cover the risk of loss of the income of an earning member incase of his/her death. Though the person cannot be brought back, at least the financial support that he/she provided remains with the family. It is NOT an effective investment avenue as the very purpose of insurance is risk cover. Mixing up investment and insurance often results in a costly and insufficient risk cover and an inefficient and underperforming investment.
Focused mainly on protecting the health, and loss to wealth, general insurance mainly helps to reimburse the costs associated with treatment of medical conditions or the costs associated with making good a loss to an asset.
At MNM, we believe that insurance is a mode of protection against risk and not an investment avenue. We can help clients create an insurance portfolio that suits the needs of the client and not the pockets of the agent.
Though we do not sell insurance, we can put you in touch with some of our insurance advisor associates that will guide you in going ahead with the same.