The 4 Most Important Insurance Policies Everyone Should Have
The world we live in is full of uncertainties and risks. Individuals, families, businesses, properties, and assets are exposed to different types and levels of risks. These include the risk of losses of life, health, assets, property, etc. While it is not always possible to prevent unwanted events from occurring, we can ensure financial security for us and our families when it’s needed the most by opting for various insurance policies.
Read on to learn about the 4 major types of insurance covers and why you need them!
Motor insurance
The consequences of an accident can be severe, and besides financial loss and personal injuries, it also causes severe mental stress. Apart from the fact that motor insurance is mandated by the law, it helps relieve a lot of your financial and mental pain by covering your expenses in the event of vehicle damage or injuries to other drivers, passengers or pedestrians.
Click here to learn why motor insurance is much more than just a legal requirement
Health insurance
Having a health insurance policy for yourself and your family is important because medical care is expensive and hospitalization can burn a hole in your pocket. This can be avoided by just paying a small annual premium which would lessen your stress in case of medical emergencies.
Click here to know more about health insurance and how it can safeguard your long-term financial goals
Life insurance
A life insurance policy is an inexpensive way to give you and your family members peace of mind, knowing that they will be protected if something happens to you. According to experts, a life insurance policy should cover “ten times your yearly income.” This sum would provide enough money to cover existing expenses, funeral expenses and give your family a financial cushion.
Click here to learn how a life insurance policy can safeguard the future of your family in your absence
Travel Insurance
A travel insurance policy covers you against travel risks such as lost or stolen luggage, cancellation cover (should you not be able to travel due to unexpected medical reasons) and most importantly, unexpected medical costs abroad. By opting for a travel insurance, you can be stress-free of all these untoward incidents and enjoy your holidays!
Click here to know why travel insurance is a must while traveling abroad