Avoid highcost insurance products from "summary" of Let's Talk Money by Monika Halan
Insurance is a necessary evil in the world of personal finance. It's like that bad-tasting medicine that you know you need to take for your own good. But just like you wouldn't want to pay an exorbitant amount for medicine that does the same job as the cheaper one, you shouldn't be shelling out massive amounts for insurance that you could get for much less. High-cost insurance products are like luxury cars in a world where a budget-friendly sedan would do the job just as well. These products come with hefty premiums that can eat into your hard-earned money without providing you with any additional benefit that justifies the cost. It's important to understand that the purpose of insurance is to protect you from financial calamities, not to drain your bank account. Opting for high-cost insurance produ...
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