Life Insurance and Blockchain

[Shimmiry]

Investing in Life Insurance company is simply wasting your money to be honest, Just invest on health insurance which is offered by the government itself so you need to invest on assets not something which gives you back after our life. When you have lot of money which you got from your investments you won't actually need a life insurance to take care of your family.

I think both health insurance and life insurance are both useful to your life and your family because life insurance is just a way to help your family financially when you die. In contrast, health insurance is a coverage that will help you pay for medical and surgical expenses that are insured. So if you are investing your money for both of your life and health insurance, it could be useful because you don't need to worry if there will be an emergency will happen in your life.

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[Findingnemo]

Investing in Life Insurance company is simply wasting your money to be honest, Just invest on health insurance which is offered by the government itself so you need to invest on assets not something which gives you back after our life. When you have lot of money which you got from your investments you won't actually need a life insurance to take care of your family.

I think both health insurance and life insurance are both useful to your life and your family because life insurance is just a way to help your family financially when you die. In contrast, health insurance is a coverage that will help you pay for medical and surgical expenses that are insured. So if you are investing your money for both of your life and health insurance, it could be useful because you don't need to worry if there will be an emergency will happen in your life.

In my personal experience life insurance is just useless money spend because we are not going to make any profits from it but medical insurance is different we can actually get lot of benefits from it in our life on many occasions.Even if you have life insurance there is kot of difficulty while claiming that so I never preferred it for my family.

[Wapfika]

In my personal experience life insurance is just useless money spend because we are not going to make any profits from it but medical insurance is different we can actually get lot of benefits from it in our life on many occasions.Even if you have life insurance there is kot of difficulty while claiming that so I never preferred it for my family.

Yes, There'll be a need for many papers to claim the benefits and a proper investigation, but since I have seen many claim story in some insurance I can say it will depend on what company you buy your policy.  I have heard many who is able to claim money and been able to use to continue their family living.That's why we hope at least there is a need for advance used of technology to adopt blockchain for transparency in terms of documenting and investigating to avoid denial of some claims.

[MCobian]

Investing in life insurance is not a good choice to take, because the benefits are not as promising as investing in gold, stock or crypto.
And related life insurance claims are also very complicated, there must be several documents that are met. Can be seen from the life
insurance company's customer data continues to decline, this is proof of life insurance is not a good investment. Then if investing in life
insurance decide using crypto is a good step, the more life insurance payment options can make life insurance users comfortable. But it
will not make new users interested join life insurance.

[Natalim]

Investing in Life Insurance company is simply wasting your money to be honest, Just invest on health insurance which is offered by the government itself so you need to invest on assets not something which gives you back after our life.

Maybe that is your view on that matter, but people who avail on life insurance think it's not wasting money, it's a way to secured the family they will left when they pass away. I don't even call that investing as you will not benefit when you die, it's the people you left or your beneficiaries.

When you have lot of money which you got from your investments you won't actually need a life insurance to take care of your family.

True that, but majority of us are just employees, we don't have a lot of money, we rely on our job so we need this kind of security.

[Findingnemo]

When you have lot of money which you got from your investments you won't actually need a life insurance to take care of your family.

True that, but majority of us are just employees, we don't have a lot of money, we rely on our job so we need this kind of security.

In reality these kind of investments keep most of the people in the middle class limit so they need to rely on every pay check to run their family and willing to spend money for something which might helps if we are no more.

[erikoy]

When you have lot of money which you got from your investments you won't actually need a life insurance to take care of your family.

True that, but majority of us are just employees, we don't have a lot of money, we rely on our job so we need this kind of security.

In reality these kind of investments keep most of the people in the middle class limit so they need to rely on every pay check to run their family and willing to spend money for something which might helps if we are no more.

Probably yes and most of us here probably an average income earners. I am interested in insurance actually especially in health insurance with claims and benefits for patronizing it over a period of time But then, I was doscourage by my co-worker due to the fact that some of the insurance company will change their name after the collection of money and then run away. I had seen most of them bringing good names of insurance company internationally but still they could be fake and just claim that they are part of that big insurance company.

[alani123]

There had been occasions where I was forced to have a life insurance over a short period of time. Frankly when you're too young most of the insurance companies won't even recommend you a long term plan unless you include savings with it. Which if you ask me is quite odd. Why not save on your own or just start a plain savings program. So no, due to my age, I've never considered a normal life insurance program.

But even if I were to consider one, I don't think I'd care if a company accepted BTC for it. It seems like huge logistical trouble for a big company to handle BTC payments (due to bureaucracy mostly) for it to be worth it. On the contrary, on the user level, it would be much simpler to convert BTC to FIAT. Personally I would just look for the best price in terms of USD value. Charging in BTC might ask for a price difference anyway to cover costs. Long term that doesn't seem convenient.

Also by paying life insurance, you lose your anonymity. So paying with BTC doesn't add much benefit.

[shoreno]

When you have lot of money which you got from your investments you won't actually need a life insurance to take care of your family.

True that, but majority of us are just employees, we don't have a lot of money, we rely on our job so we need this kind of security.

In reality these kind of investments keep most of the people in the middle class limit so they need to rely on every pay check to run their family and willing to spend money for something which might helps if we are no more.

Probably yes and most of us here probably an average income earners. I am interested in insurance actually especially in health insurance with claims and benefits for patronizing it over a period of time But then, I was doscourage by my co-worker due to the fact that some of the insurance company will change their name after the collection of money and then run away. I had seen most of them bringing good names of insurance company internationally but still they could be fake and just claim that they are part of that big insurance company.

changing the company name is okay but they should give notice  and the funds should be there  . i think i saw many companies before changed thier name but they are legit and operating till now . you shouldnt get discrouaged because of that because insurance is verry useful espcially to the person like us that arent that wealthy enough  and btw i think i saw a crypto wallet where you can pay insurances via crypto  but i think they are no involvement with the blockchain system yet

[danggoron]

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Also by paying life insurance, you lose your anonymity. So paying with BTC doesn't add much benefit.

One purpose of using insurance is to provide funds for emergency needs or dreams in the future, right? IMO, using insurance in cryptocurrency is a very big risk. We know that cryptocurrency is very volatile, so do you insure your valuable property with it? That is not a wise choice.
It's better to insure your valuables with an official and state-recognized company, it makes it easier for you to make a claim and maintain its security of course.

[Rengga Jati]

Life insurance, actually, this is a thing that I mostly want to avoid. I know that life insurance is important, for insuring our life of course. Because we don't know what will happen to us and our family and we need certain life insurance. But, what happens in life insurance in my country seems to make me not interested in certain kinds of life insurance, moreover global insurance, it is about trust and eaisness for claim. Probably it is not because of the life insurance that is bad, but the system and also the sales or customer services that do not be honest when offering this insurance. many users are deceived with very legit insurance profits, but in fact they are gone when they are resigning and nobody can help the users. The users lost most money after paying for years and they cannot claim for it or use it easily as what said by the customer services. And they are only victims without any repayment. this may not for all insurance company, but I will better to aovid this.

However, if the use of blockchain tehcnoogy can support the insurance system to be more reliable, easier, and also really beneficial without any fraud, I think it can be. But, how to ensure the users about this when they are really new ith this blockchain technology? Moroever, it should be also certain training to the employees about this technology and system so that they explain the rigth to the customers.

[Findingnemo]

When you have lot of money which you got from your investments you won't actually need a life insurance to take care of your family.

True that, but majority of us are just employees, we don't have a lot of money, we rely on our job so we need this kind of security.

In reality these kind of investments keep most of the people in the middle class limit so they need to rely on every pay check to run their family and willing to spend money for something which might helps if we are no more.

Probably yes and most of us here probably an average income earners. I am interested in insurance actually especially in health insurance with claims and benefits for patronizing it over a period of time But then, I was doscourage by my co-worker due to the fact that some of the insurance company will change their name after the collection of money and then run away. I had seen most of them bringing good names of insurance company internationally but still they could be fake and just claim that they are part of that big insurance company.

Health insurance is must but in most of the developing countries insurance is one of the biggest scam because they will collect premium amount yearly but in case of medical emergencies most of the time their answer will be it won't be covered under this scheme.So take the health insurance only after reading their benefits or ask for someone who can guide you which one is the best to take.

[hatshepsut93]

Lmao imagine paying for life insurance with crypto, then one day you die, but the price of a coin dropped by 90% compared to the time of purchase, so your family barely gets anything. Of course there can be the opposite scenario where the price goes to the moon, but the whole point of insurance is to deal with the risks, and crypto is the opposite of it - it is a highly risky investment instrument.

[sunno330]

Insurance always don't support you . Insurance is the future investment and it is also make deposit your money. money management in crypto it is not easy .I recommend to invest on medical purpose of insurance they will more support you.but life insurance I can't recommend you.

[verita1]

A life insurance that is based on Blockchain can be useful for our community just now. On the one hand we feel optimistic that we are digitizing the industry to improve services. Because due to the crisis to access these services it would be faster and more efficient with the blockchain implement.

[yhiaali3]

Life insurance is very important, especially at this time with the spread of Corona virus around the world and the death of hundreds of thousands of people as a result of this epidemic. Of course, the situation has become dangerous and the life of every human being is threatened at any moment. Therefore, life insurance has become a major necessity now.
Unfortunately, this culture is not widespread here in my country, in a country where wars and famine are widespread and hundreds of people die or killed daily. This is not a big problem for the government or the insurance company. What is the difference if another one dies?

[Wapfika]

Life insurance is very important, especially at this time with the spread of Corona virus around the world and the death of hundreds of thousands of people as a result of this epidemic. Of course, the situation has become dangerous and the life of every human being is threatened at any moment. Therefore, life insurance has become a major necessity now.
Unfortunately, this culture is not widespread here in my country, in a country where wars and famine are widespread and hundreds of people die or killed daily. This is not a big problem for the government or the insurance company. What is the difference if another one dies?

Dying seems normal in these days, but we must survive can be with the help of our claims from health insurance  or the people who might left here must survive, and the Life Insurance can help us. As long as we know the company we buy our policies as well depending on how the government treats their people we should prioritise having insurance especially this time of Covid.

[ChiBitCTy]

I work in the financial space and life insurance has been a product I've worked a lot with as well as am quite familiar of the ins and outs.  I had no idea that these companies offered life insurance via bitcoin/cryptocurrency.  These are pretty solid companies as well. At least Allianz and MetLife whom I'm familiar with. 

FYI for anyone interested in the Life Insurance aspect and might be buying some sometime soon- unless you're very wealthy buy term life.  Whole life insurance is only for those with great wealth. The other types of life insurance ( index, variable etc ) can be useful but in most situations are not.

[Axelseseclevz]

Life insurance is very important especially this time of health crisis caused by covid 19 virus. But i think, only the those with enough savings now can afford to invest in life insurrance. Our life now is very difficult and our priority is our foods and other daily necessities and set aside those other things that cannot afford with our budget.

[Wapfika]

Life insurance is very important especially this time of health crisis caused by covid 19 virus. But i think, only the those with enough savings now can afford to invest in life insurrance. Our life now is very difficult and our priority is our foods and other daily necessities and set aside those other things that cannot afford with our budget.

Unfortunately, those who have capabilities and those who have money and stable job are the only able to have insurance, but in my country those who have atleast a job trying to save for life insurance even the cheaper one since hospitalization is too high in my country. It can be just a matter of discipline and how they prioritise spending to those who have income.