The Buyt Desk
It is really important to have adequate insurance cover. Life is uncertain and insurance policy provides financial protection in bad times. With time the uncertainties in every sphere of life are increasing. Insurance covers are becoming an important part of your financial planning which prepares you to face unfortunate incidents. Life Insurance definitely is the most important cover that you must have for yourself but it is as important to have other insurance covers as well. You must protect yourself from spiralling medical costs by buying health cover for your family. Car insurance will take care of an unforeseen accident or theft.
Let us have look at how different kinds of Insurances help you –
Health Insurance
Health insurance has become very important insurance in today’s time. The best way to deal with health risks is to be financially prepared. Your insurance portfolio should be such that it gives you financial stability in times of need. There are two categories of health insurance – regular and critical illness. In case of any kind of medical emergency, one should take a regular health insurance plan to ensure that your hard-earned money and savings accumulated over the years are not lost. You can also opt for a floater plan and take a cover for all the members of the family. Apart from a regular health plan, you can consider critical illness cover which will give you protection against serious ailments like cancer, heart disease, etc.
Term Insurance Cover
Unfortunately, there are no guarantees in life. Thus you must not ignore term insurance. This will give financial protection to your family in case something happens to you. A pure term plan is a must-have in any person’s portfolio. Buying a term insurance product at the right time helps you in case of death, illness or disability. Term insurance gives you great cover at a low annual premium. Experts believe that term plans should be bought according to age.
Home and Goods Insurance Cover
We spend a good chunk of our salary towards a home loan so that we can own our dream home. We spend a lot on decorating our home and fill it with products and amenities. But how much do we spend on home insurance that can cover the things kept in the house? There could be a natural disaster, accident or theft. Home insurance will ensure that at the time of such shock your financial needs are met. A home and goods insurance ensures the safety of electronic items such as TVs, mobile phones, and electric/electronic devices in your home.
Vehicle Insurance Cover
It is mandatory to take third-party insurance during the purchase of any vehicle. Apart from this, you can see add-ons like protection cover for the engine, road assistance cover, and zero depreciation cover, etc.
Personal Accident Cover
Accidents can happen anywhere anytime. Severe accidents can leave you financially drained and at times with the pain of physical disability. You will be better prepared for such an untoward incident if you have a personal accident cover. This will help you and your family to deal with a permanent or temporary disability or death.
