By Adolfo Ruiz Guzmán, head of financial education Grupo Financiero B×+
Many people still do not understand the importance of being insured, they consider it an onerous and unnecessary expense, which is a reflection of the little financial culture that exists in terms of insurance and protections.
According to the Mexican Association of Insurance Institutions (AMIS), only 15% of people with work have life insurance; On the other hand, only 17 states in our country require insurance with civil liability coverage. Two data from two different branches in which they demonstrate the little penetration of these great allies.
Therefore, I want to share some simple points about why it is important to be insured:
1. It is the first line to take care of your assets
I understand well about the cost of premiums and many times they can be onerous, but in the end, consider that you are buying something to never use it, but if something happens, you are covered.
From the health sector, the pandemic revealed the precariousness of many of the medical services and the defenselessness of many people as they do not have basic health coverage; Unfortunately, several were left with very large debts and many others lost their lives.
2. Losses are minor and do not affect your peace of mind
With coverage, depending on the contracted conditions, deductibles are more accessible than complete repairs. For example, with a car, in the event of an accident, the losses, not to mention the human ones, can generate a great cost in repairs and if it is considered a total loss, you would lose 100% of your assets. All this without mentioning the human factor, in case of injuries or deaths, the expenses could triple.
3. There is coverage for everything and everyone
The insurance offer is very wide, you can even insure things such as your house, kitchenware, motorcycle, even very specialized ones such as pets and as curious as legs in the case of athletes. The advantage is the great competition within the sector who offer the best conditions for you and your pocket.
4. They are an excellent complement for retirement
There are very interesting instruments which work as an ideal complement for retirement savings, in them you deposit an amount, according to your possibilities, and you forget that it is there, so that at the end of the contracted period, you can obtain the returns of the investment.
Insurance is an excellent companion in life, there is a product designed for each stage and for any need. Remember, it is an investment that offers you peace of mind at the right time, the old saying applies, it is better to be safe than sorry.