While insurance gives strength to our family to face any untoward incident in future, there is also a huge basis of savings. Many people take an insurance policy only for savings.
The corona epidemic has made people understand the importance of insurance. Many people used to consider insurance as a wasteful expense, but now it is not so. Alam is that after the outcry of Corona last year, there has been a tremendous boom in the business of insurance companies. The number of people buying insurance has increased rapidly. Insurance companies have also increased the prices of their products.
Insurance stands as a strong base with us in any emergency, especially in financial situation. While insurance gives strength to our family to face any untoward incident in future, there is also a huge basis of savings. Many people take an insurance policy only for savings. However, here we must understand that both investment and insurance are different things. By insuring for investment, you do not get the return that is expected.
The insurance market has also expanded. Today everything is insured. There are hundreds of products in health and general insurance itself. But here we are talking about those insurance products, which are essential for a family.
Term Insurance
It is very important for the head of the household to have term insurance. Term insurance provides financial assistance to the initially dependent people in the absence of the earning person. The earlier the term insurance is done, the lower the premium is and the higher the coverage. According to today’s requirement, the head of the household should have a term insurance of at least one crore rupees.
Health Insurance Policy:
The way medical expenses are increasing, health insurance has become very important. Every member of the family should have health insurance. The entire family can also be covered in a family floater policy. A good health insurance policy covers the cost of doctor’s consultation charges, medical tests, hospitalization expenses and operations etc.
Motor insurance (Motor Insurance )
If you’re a car or run two-wheeler you must know that the Insurance Act of vehicles is required. Therefore, comprehensive motor insurance cover must be taken along with third party insurance. This insurance has to be renewed every year.
Accident insurance
helps in meeting the financial loss of the family due to accidental death under the Prime Minister’s Suraksha Bima. Under the Pradhan Mantri Suraksha Bima Yojana, insurance coverage of Rs 2 lakh is available. It is linked with the savings account in the bank. 12 of the insurance premium is debited to the bank account annually.
Home Insurance
Nowadays natural events have also increased. Theft has also started happening a lot. In such a situation, home insurance should also be there. With home insurance, you can cover damages caused by fire, theft and natural calamities.
Cyber ​​insurance
As we are going digital, the incidents of cyber fraud are also increasing rapidly. The account of our life is floating in the cyber world in the form of data in mobile, laptop. Anyone can break into it. Therefore, to protect your bank accounts, to prevent misuse of credit cards, one should also opt for cyber insurance cover.
