With the constant rise in the cost of living, young adults all around the world are struggling to make ends meet, which includes managing their financial situation, balancing both physical and mental health, and keeping relationships afloat. Therefore, it is important to buy comprehensive protection plan for Malaysian Young Adults.
What is insurance and why is it important?
According to Merriam-Webstar online, insurance is an agreement by which a person pays a company, and the company promise to pay money if unexpected risks happen; like death, chronic illness, or lost or damaged properties. Insurance is important as it covers and guarantees protection for the person. When a person decides to get insurance, the person is able to manage sudden risks better than without getting insurance. If the person opts not to have insurance, then that person will have no choice but to face the consequent cost needed for the risks. Also, insurance can also be seen as an asset as it helps plan your targeted wealth goal (which usually depends on the type of package/plan one chooses to invest in).
Why is the main focus on young adults?
Getting a comprehensive protection plan is highly recommended among young adults, as young adults are indeed still building their future and life goals. With a comprehensive protection plan, not only will young adults be able to avoid the cost of unexpected risks, but young adults also will be able to invest in their future by planning their wealth through the insurance of their choice. Investing in a comprehensive protection plan is an asset as it also teaches most young adults to keep track of their financial stability, to ensure that young adults do not waste their financials on other unnecessary liabilities.
Moving on, another reason why young adults are constantly reminded to get a comprehensive protection plan is that it’s cheaper when one is younger. The younger you are, the cheaper the insurance plan/package is as insurance plans in age. Therefore, if a young adult at the age of 20 decided to get a comprehensive protection plan, they will be able to save more money in the future compared to if they start getting a comprehensive protection plan at a later age. Health-wise, most young adults don’t suffer much health issues, therefore good health means lower insurance costs.
Is there the right comprehensive protection plan for young adults?
Every insurance company has its own lists of ideals and coverage plans for each individual, therefore there is no right or wrong when choosing the ideal protection plan. To each their own, as young adults will have to make their own research on available insurance companies and eventually choose a comprehensive protection plan that protects them AND their goals.
Get your comprehensive protection plan today!
If you are a young adult and have not purchased a comprehensive protection plan, it is highly recommended and advisable for you to get one as it is a great investment for your future. As they say, it is better to be safe than sorry.