They say that the future is not guaranteed, but you can always secure it with the hope of leading a rich long life. Welfare is a security account that one sets up for use when they are no longer fully active in earning, to ensure that they still have a regular income. Welfare accounts can also be set up seasonally in-case someone has an emergency social activity to take care of, such as a funeral.

The following are reasons why one should seriously consider setting up a personal welfare account, or join a welfare group.

1.    Financial Stability: When you set some monies aside, in a welfare group, these guarantee financial stability for the member. Monies that could have been expended by a member due to loss is taken care of by the group.

2.    Maintains Standard of Living: with regular payouts, being a member of a welfare group gives you a level of protection that ensures you maintain your standard of living.

3.    Confidence: With welfare, you have a certain level of peace of mind that your future is guaranteed against unexpected loss.

4.    Security: Most say you are just one illness away from bankruptcy. Being a member of a welfare group can help you cover over sudden medical bills without super straining your current living standards.

5.    Motivation for Savings: People pay a specific amount for welfare based on the group agreement for a specific amount of time or for the rest of their life, which motivates them to develop a saving habit. After discovering how important saving is, people start doing it in several ways.

Welfare accounts are customized to protect members/account holders from the economic risks and insecurities of life. The most common types of schemes provide benefits to the elderly or retired, the sick or invalid, dependent survivors and any other group, or family that sets up for any reason.