Everyone so busy working for a living, this begins from a young age till the time one can legally earn. For this busy schedule, you need to take the time out for them to get insured and think about your family’s financial safety. Insurance is necessary for getting a robust shield for the protection of financial loss.
Insurance defines financial protection against the loss of a person. There might be some unexpected incident that occurs and your loved one could face serious damage from your loss, emotionally as well as financially. In that case, you should buy an insurance policy for a better future.
The Indian insurance market is vast, and there are excellent insurance policies that would be matched to your needs. You can select as per your ease. Whether it’s your health or if you are planning to travel abroad, the insurance policy will cover everything. Majorly you have to take a firm decision about which policy is suitable for you.
Insurance works and fulfils your families financial needs in your absence.
You have to choose an insurance expert to guide and tell you which insurance is suitable. This way, you would know all kinds of risk factors involved in the policy as well as the benefits.
In India, there are two types of insurance available – general, and life insurance insures life. In case of the demise of the policyholders or their family members, they will get the amount. The company will pay the amount.
Endowment policy- This resembles the term plan. One difference is there that if the policyholder continues to pay the premium, the insurance company pays the maturity advantages.
Unit linked insurance plan- the premium is directly paid to getting the coverage of insurance and investment. The insurance company invests some amount of the fixed percentage of the premium in qualified investment assets. This can reserve the rest to offer insurance cover.
Money-back policy- It offers periodical returns with the insurance cover. In this case, the policyholder receives the premium amount regularly after a certain period of time. If the family faces any mishap, they can get the premium amount with a bonus from the company.
Pension plan- This plan helps to protect the old age by offering some regular monthly amount after retirement. During some unexpected event, the policyholder family will get the amount.
Child plan- In this plan, the policy holder’s child will get a secured amount. The insurance company pays the amount after that and offers your child a secured future.
General insurance- this includes heath, motor, home, travel insurance.
Any damage happens to home or during travel this insurance will compensate. The insurance company pays for the damage. You can get tax benefits for this kind of insurance.
Always try to decide at the right time to open insurance. Insurance provides more benefits and gives you maximum relaxation. Even you would get retired or lost a job; insurance only will work that time to safeguard you.
Hence, Without wasting more time go for an insurance policy and become lucky.