Life Insurance and Blockchain

[carlisle1]

I have nothing against the implementation of blockchain technology and cryptocurrency payments in the Life insurance industry.
However,I highly doubt that the blockchain technology will reduce or prevent the cases of insurance fraud.
Technology can't replace humans,when it comes to investigating insurance fraud cases.

Fraud is Part of every insurance policy because it has been issue for long,My mother is a former insurance agent and she keeps
telling me about the assurance of company before you use their company.
But at least using Block chain will lessen the Fraud.

I think that the insurance industry will be damaged by the corona recession.The overall revenue of insurance companies will go down and adopting cryptocurrency payments won't make the insurance companies more attractive to the people.Many people lost their jobs due to the recession,so they can't afford insurance.It doesn't matter if they are paying with crypto coins or fiat money.

Depend on the insurance type,because Life Insurance now are in demand ,because of this pandemic people now are willing to spend for their future and also their family,
so having insurance will lessen the problem incase of the effect of pandemic.

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.

I Disagree,because even people with limited budget will have insurance because of the Virus.
Imagine the threat in our life now.

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[Wapfika]

I Disagree,because even people with limited budget will have insurance because of the Virus.
Imagine the threat in our life now.

Many were buying Health insurance this days, those who really see the importance of life insurance will try to acquire life insurance for their families, life is uncertain now but having life insurance especially this time of Pandemic should be a priority but not to those who have lost their job since their priorities is their everyday essentials. I do hope people who don't believe in life insurance will still try to secure having their own life insurance with health coverage even this Pandemic only,there are term insurance that are cheaper and affordable now.

[Kasabus]

I Disagree,because even people with limited budget will have insurance because of the Virus.
Imagine the threat in our life now.

Many were buying Health insurance this days, those who really see the importance of life insurance will try to acquire life insurance for their families, life is uncertain now but having life insurance especially this time of Pandemic should be a priority but not to those who have lost their job since their priorities is their everyday essentials. I do hope people who don't believe in life insurance will still try to secure having their own life insurance with health coverage even this Pandemic only,there are term insurance that are cheaper and affordable now.

Investing in life insurance imo is really essential since it will help us become more prepared especially in those times of difficulties that we will be facing in our old years. But investing in it using crypto gives more advantage as it can be more transparent for us to monitor our investment just like we are only keeping it in our own bank. Though its quite hard to make it in this time of pandemic but at least we should still consider it as an essential one.

[TIDOVEE]

It is a very good concept having an insurance on blockchain, provided the wallet can be so secured against fraud. The first thing I had to consider was,was there issues with the well known insurance organizations all around. If there is none, it is not a bad idea bringing up a new innovation but presently we are protecting our wallet by all means and hackers have never stopped hunting and invading into accounts.i feel it would be more helpful in time like this that so many people has lost their jobs but just the security of the wallet is my concern.

[Lorence.xD]

I Disagree,because even people with limited budget will have insurance because of the Virus.
Imagine the threat in our life now.

Many were buying Health insurance this days, those who really see the importance of life insurance will try to acquire life insurance for their families, life is uncertain now but having life insurance especially this time of Pandemic should be a priority but not to those who have lost their job since their priorities is their everyday essentials. I do hope people who don't believe in life insurance will still try to secure having their own life insurance with health coverage even this Pandemic only,there are term insurance that are cheaper and affordable now.

Not everyone from every country can't afford a life insurance even if they want to, some government backed insurance in my country is very inefficient because there are a lot of delays because of bureaucratic paper works and the salary cuts are so big that it outweighs its long term benefits because people will be using the insurance as a way to sustain their living. In my country, the cost of living is too high and not everyone have the financial knowledge to invest in life insurance, plus most of the working force is in contractual rather than regular so most of them do not get that much working benefits.

Cryptocurrency based life insurance is a good innovation but there is still an elephant in the room that we need to talk about and that is adoption and how do we circulate the cryptocurrency that is contributed by our member so they can get the compound interest when they come at the age of retirement, insurance is very complicated in my opinion, but this has a potential if we have adressed the problems that hinder this innovation.

[Kong Hey Pakboy]

I agree to invest in life insurance using cryptocurrency now as technology advances because it can help brighten our future no one can say when the crypto market will not be stable but life insurance for a certain period of time will help us increase the amount of money. However before insuring in these companies, you have to check it well the role of insurance is important to meet daily needs.

From my point of view, investing in your life insurance using cryptocurrency can be helpful to your family for them not to have any problems financially when you die. But you still need to assure that project is legitimate before investing in life insurance because it will be a waste of money if they will not provide the insurance after you die.

[Rodeo02]

I agree to invest in life insurance using cryptocurrency now as technology advances because it can help brighten our future no one can say when the crypto market will not be stable but life insurance for a certain period of time will help us increase the amount of money. However before insuring in these companies, you have to check it well the role of insurance is important to meet daily needs.

In terms of insurance I still preferred the old way of investing in it. Its too early to have it in crypto space I mean we don't really know how secure it is and it is international so it will hard for other to claim that insurance came from other country .


Its good try but its need to be available first in different country and have many office in many ditty  in that way  many people will be interested  join and have idea how they can receive the insurance if ever the family need it.

[so98nn]

Surely it is vital part of our life these days. I mean you never know what things will come up in your day's basket an accident, long lasting illness, death etc. Considering the today's lifestyle things are messy and we may not bear the health issues that properly as people used to do back in the days. They used to live longer, healthier and always had death zones in the late 90's age.

It's alarming these days this rate has reduced almost to 60 years old. It's better to get insured with these claims and load some of the financial stuff onto these companies.

It does make you loose money in the process since you dont get ill every year and you don't die every year (!). But still having it is important part.

I like the idea of investing with crypto currencies but for that the whole infra of insurance company will need to run on crypto assets. I don't think lot of people will become attracted to it in the first place as it's money matter and only person who knows crypto will invest in that way.

[imstillthebest]

I agree to invest in life insurance using cryptocurrency now as technology advances because it can help brighten our future no one can say when the crypto market will not be stable but life insurance for a certain period of time will help us increase the amount of money.

it does not brighten your future but infact we are talking about your life here specifically when you are in great danger  . your not happy when your suffering unless you do want to die but using crypto to pay for insurance is a perfect tandem because of how advance our technology now  .

 using the old system of paying is too basic and shows that people arent improving  . crypto market are never stable but there are people that wont mind this because they can still do the things they wanted to do

[Sanitough]

in my own analysis cryptocurrency is your real insurance aside from that, your investment can grow anytime.

Insurance company using cryptocurrency, I think that will grow only if the market will be stable in general.
Any projects would suffer if bitcoin is not stable, if bitcoin will dump the rest will be affected, that's why the market works for now, so even if how good the purpose of the project is, but bitcoin is not progressive, I doubt it will succeed.

However, since they use cryptocurrency, I would like to assume that they believe in crypto, especially bitcoin which is the most dominant coin in the market, so they are building their projects here, what will happen in the future is that this space will be filled with good project with different purpose to serve, so this is actually a good investment.

[kateycoin]

I think it will be risky to invest life insurance in crypto,we know how volatile crypto market. Investing in decentralized dont have assurance that it will grow and its risky.Many things you need to consider before you investing in life insurance even how project is good. Think 10 times before that.

[Rosilito]

in my own analysis cryptocurrency is your real insurance aside from that, your investment can grow anytime.

Insurance company using cryptocurrency, I think that will grow only if the market will be stable in general.
Any projects would suffer if bitcoin is not stable, if bitcoin will dump the rest will be affected, that's why the market works for now, so even if how good the purpose of the project is, but bitcoin is not progressive, I doubt it will succeed.

Yep, and that's why I am quite skeptical on this idea. Isn't it the purpose of this insurance thing is to support/secured future circumstances, and when the needing of it comes, it'll make the beneficiaries secured financially. And bringing in btc as an option, well, it might help on the other hand but you cannot exclude the fact that the price of it may go sideways. Worse case scenario is, you would possibily get a little amount in which you might not be able to use it for its exact purpose  .

Nonetheless, still a good idea though, I am just worried on the other possibilities.

[AbuBhakar]

I think it will be risky to invest life insurance in crypto,we know how volatile crypto market. Investing in decentralized dont have assurance that it will grow and its risky.Many things you need to consider before you investing in life insurance even how project is good. Think 10 times before that.

Every year I buy a term life insurance, it didn't cost that much depending on your coverage some cost only $10 usd or less which I still hope I will not be going to use but just in case of accident. I prefer also having medical coverage that can be used for hospital bills. I didn't avail those costly plans it's just a backup just in case I'll be needing like what I have insurance for my car. It does not need to be in crypto base to have it. But if it will be blockchain based, those who are into crypto might get reason to avail their own Insurance.

[cotton ball]

I think it will be risky to invest life insurance in crypto,we know how volatile crypto market. Investing in decentralized dont have assurance that it will grow and its risky.Many things you need to consider before you investing in life insurance even how project is good. Think 10 times before that.

Every year I buy a term life insurance, it didn't cost that much depending on your coverage some cost only $10 usd or less which I still hope I will not be going to use but just in case of accident. I prefer also having medical coverage that can be used for hospital bills. I didn't avail those costly plans it's just a backup just in case I'll be needing like what I have insurance for my car. It does not need to be in crypto base to have it. But if it will be blockchain based, those who are into crypto might get reason to avail their own Insurance.

Better moving your saving from insurance to cryptocurrency, I know you want guarantee with all your insurance saving money but you not reach maximum profit with insurance and hard when needed to claim, my insurance country have problem right now after many member could not take back their money.

[Spaffin]

In fact, I cannot afford insurance even for fiat money, but in fact the presence of cryptocurrency in my portfolio is by itself insurance for my life and the lives of my loved ones. With the long-term storage of all my assets, this will bring me a good profit, which I can use for any purpose. But nevertheless, if we talk on the introduction of cryptocurrency in the daily life of a human being, this implies the use of cryptocurrency in various areas of business, including in insurance companies.

[Wapfika]

In fact, I cannot afford insurance even for fiat money, but in fact the presence of cryptocurrency in my portfolio is by itself insurance for my life and the lives of my loved ones. With the long-term storage of all my assets, this will bring me a good profit, which I can use for any purpose. But nevertheless, if we talk on the introduction of cryptocurrency in the daily life of a human being, this implies the use of cryptocurrency in various areas of business, including in insurance companies.

It's good to have investment in cryptocurrency but will not want it to spend due to uncertainty, or better just make sure your love ones also know how to use cryptocurrency, or atleast teach one how to open and cashout in your wallet, make sure also they know what's your password or  the seed. It is good to let your love ones know how to access it since something might happen to you like accident if we wanted to let our crypto be our insurance.

[erikoy]

In fact, I cannot afford insurance even for fiat money, but in fact the presence of cryptocurrency in my portfolio is by itself insurance for my life and the lives of my loved ones. With the long-term storage of all my assets, this will bring me a good profit, which I can use for any purpose. But nevertheless, if we talk on the introduction of cryptocurrency in the daily life of a human being, this implies the use of cryptocurrency in various areas of business, including in insurance companies.

It's good to have investment in cryptocurrency but will not want it to spend due to uncertainty, or better just make sure your love ones also know how to use cryptocurrency, or atleast teach one how to open and cashout in your wallet, make sure also they know what's your password or  the seed. It is good to let your love ones know how to access it since something might happen to you like accident if we wanted to let our crypto be our insurance.

Yes, this has been talked about over and over again. Investment has its risks and if one may wish to earn more the  risk it more will be possible to earn more but it could get lower chances to gain also because risking money for cyrptocurrency investment has no certain returns. But it could really earn a lot though with less effort but more on patience and decision making.

[Ayiranorea]

If I'm not wrong we've got a project based on the concept of cryptocurrencies into life insurance and other insurance needs. The project name seems to be insurepal. Now I checked with coinmarketcap, and found few other token projects associated with insurance and the insurepal is missing. This can be made effective with the involvement of large scale firms into the business.

[carlisle1]

If I'm not wrong we've got a project based on the concept of cryptocurrencies into life insurance and other insurance needs. The project name seems to be insurepal. Now I checked with coinmarketcap, and found few other token projects associated with insurance and the insurepal is missing. This can be made effective with the involvement of large scale firms into the business.

It seems insurepal is now voucherforme  in coinmarketcap. But the idea for having income protection is part of life insurance is indeed a good idea, their project if will fully utilized and will really be able to partner with top insurance and reliable companies can give a different impact in insurances. However, their project looks not yet updated.

Good concepts that needs to have proper implementations. Once they succeed from collaborating into more top insurance
partnership this project will be booming in the long run.

It's always good to see projects that have usable venues even the progress are slow but if the team are really

working hard to make sure that everything is moving according to the roadmap, interest coming from investors
will be expected to come from time to time.

[Mauser]

cool !! it's really useful to insure in bitcoin, i would try it

But you are also running a big risk if you have to pay your contributions in bitcoins. I think it all depends on the salary you get. If you monthly money income is mostly coming in fiat currencies and you have to pay a fixed monthly contribution in bitcoins for your insurance you are running a big currency risk. Sure your pay pout will also be on bitcoins but you will have to make sure you can afford to pay all the premiums.