In volatile world like today, nothing is permanent. Neither it is your life, heath or wealth. Hence it is necessary for you to insure future of yourself as well as your loved ones. To have a secure future, Insurance is the best thing you should have. There are various Types Of Insurance present in the market but you don’t need all of them. We will tell you the Types Of Insurance you should have today.
Types Of Insurance
As we mentioned above, there are n numbers of Insurance policies you can opt for. But the most important Insurance you should have are Life Insurance, Health Insurance and Motor Insurance. We will discuss about all these Insurance types in brief, along with their need in your life.
The Life Insurance name itself tells that it is the Insurance for your life. In simple words, Life Insurance is an Insurance which pays value of your life. We always say that, life is priceless, but if you are no more one day, then this life Insurance money can protect future of your family. This is the most common type of Insurance. Most of us has Life Insurance policy. On basis of your age, for the certain period of time, you can pay the Insurance premiums and after maturity period you will be gifted with your own investment + the Interest you have earned in this period.
The biggest benefit of Life Insurance is that, if you die before maturity period of your Insurance policy then your nominees will receive the full Insurance amount. Some Insurance policies also have benefits, even after policy maturity period is over. As much as the competition is increasing in Insurance field, these days Insurance policies are more beneficial for the customers.
If you wish to secure future of your family, then having a Life Insurance policy is the best way. If you don’t have any, then please have one today. It can also beneficial for your Income Tax savings.
Health Insurance is less popular compared to Life Insurance. As many of Life Insurance policies cover the health benefits. But these days many people are opting for Health Insurance as well. As medical bills are on their all time high level. Even a small disease can cost you big amount. Health Insurance can save you from this financial loss.
Health Insurance is a policy where you pay a certain amount for the health cover. For Ex. Most of the Health Insurance companies offers you Health cover of Rs. 1 Crore. Means if your illness cost you anything upto Rs. 1 Crore, your health policy will pay for the hospital bills.
But before having a Health Insurance, you should understand that Health Insurance can’t get you any return on your Investment like Life Insurance. You pay premium for Health Insurance and if you do not fall Ill then your money will be wasted. As well as Health Insurance doesn’t cover all the diseases. Those who can afford both Life Insurance and Health Insurance, can opt for this.
We all love automobiles. Either it is Car or Bike. If you have any one of these, then you must have a Motor Insurance. As per government law also to drive any automobile on road, you need to have a valid Motor Insurance policy.
Motor Insurance are divided as per the kind of automobile you have. If you have a Bike, then you need to opt for Bike Insurance and same applies for Car and Car Insurance.
It is a crime not to have a Motor Insurance and drive on road. Motor Insurance is beneficial in many ways. Such In case if you met with an accident, either fatal or non-fatal, with the help of Motor Insurance you can claim for the loss of money.
As per the life of your Automobile, you can opt for First Party or Third Party Insurance.
These are the Types Of Insurance you must have. We hope that, you have all of them. Be safe and happy. If you have any suggestion or complaint, please comment below.