When we seek insurance, we protect against the possibility that we may not complete that task as intended.Now imagine the behaviour of the typical consumer of insurance products. If you are not saving enough every month, you need products that will enable you to draw from them as needed, anytime. If you are earning enough, you don’t need products that will generate income for you. Knowing what you need is a responsibility you have to take on .Third, stop being gullible about what a product will do for you. For every multi-bagger equity share, there are abysmal failures and you cannot tell them apart in advance.An informed buyer is the only foil to an incentivised seller.

Source: Economic Times April 09, 2018 00:56 UTC