Myths about insurance For many people, insurance is just another form of investment. They buy one or two life insurance policies , and then forget all about them. Ask them about other insurance covers—accident , health, or household valuables—and they will tell you that that's a waste of money. Why pay a premium for a health insurance cover, when you're in the pink of health, they will argue. Insurance advisors say mistaken notions about insurance are surprisingly widespread and persistent, and that this is the reason an alarming number of people are underinsured or even uninsured. "Most people have picked up certain assumptions over the years, and it is very difficult to convince them otherwise," says an insurance agent of the Life Insurance Corporation of India. "Even after the opening up of the insurance industry, some of these wrong ideas continue to play an important role in the decision-making process." Two life policies are enough
Life Insurance in India