-Written by Anandi Darpel
Domain: Finance
If being financially secure is on your mind, then enrolling for an insurance policy is must. The right financial plan and insurance solutions will help you in achieving benefits at the time of crisis. Unexpected situations in terms of life, health, vehicles can occur anytime and hence having an insurance policy is essential. It not only provides financial protection to your life but also keeps you vigilant financially.
Below are the five insurance policies that you must not do without:
- Health Insurance:
Considering the increasing prices for hospital and health services, purchasing health insurance is essential. In times of health emergency, having health insurance policy will help you with monetary gains. Medical insurance must be aptly chosen for reducing the financial pressure incurred during serious injuries. The right health insurance coverage from insurance companies such as LIC, SBI, Birla Sun Life, Reliance Life and others must be purchased
- Automobile or car insurance:
This insurance policy includes financial protection in case of vehicle liability, personal injury caused from vehicle, collision or defects of vehicle, car theft cases. The automobile insurance policy is of boon and useful for your valuable assets like vehicles. ICICI Lombard is one of the topmost providers of car insurance followed by Tata AIG and Bajaj. You can consider these car insurance companies for the cheap financial policy depending on your needs
- Homeowners Insurance:
Real estate and property prices are on the rise. Hence it’s essential to invest in a right homeowner’s insurance solution or home insurance. In case of any damage or theft, this insurance policy gives you adequate financial protection. In situations or natural disasters such as fires, flooding, earthquakes, this insurance policies provides financial and monetary shelter. This specific policy includes the costs incurred for home replacement and building homes
- Life Insurance:
Statistics indicate that LIC is one of the top insurance companies providing maximum Life insurance policies till date. Financial dependencies are leading to the maximum usage of this policy on others. Before investing in a Life insurance solution, certain criterion to consider is employment years and annual income. Hypothetically, after your demise that income will be replaced by the policy. If your spouse, relatives are monetarily relying on you and are affected after your demise, then possessing this life insurance cover is important.
Consulting a life insurance agent will be appropriate, as the agent will explain you in detail about the right policy, terms and conditions.
- Long Term Disability Insurance:
Protecting and taking adequate measures for your future earning power is important. This can be done by investing in the disability policy. This policy provides reasonable financial coverage to your lifestyle, even if you don’t earn at the moment. The disability income supplied in this policy will help in times of illness or accident.
Overall, these were the Insurance policies amongst which medical insurance and life insurance prove to be most important for flourishing financial future.
-Copyright © 2017 Anandi Darpel
Blog Articles by Anandi G. Kumar 