In InsuranceSamadhan.com’s A-Z Blog series on Insurance topics, we try to provide all vital information related to the Insurance sector and demystify certain myths related to the sector. In today's blog, we are sharing detailed information regarding – Why Insurance Cover is Important? – and everything that one needs to know.
A well researched Insurance would always give you good sleep as you know that all risks in life are well covered and financial future of your family is well protected. A well insured person would not have life style diseases like Blood Pressure, Hyper tension or cardiac issues.
Insurance should be seen as Balanced Diet which we have difficulty in managing but always give us good health.
Staple items in Balanced Diet for choosing a perfect Insurance Policy
- Your Morning Tea/Coffee is Term Insurance. This wakes you up towards your responsibilities. You feel confident. It is the most economical option of buying insurance. As everyone takes a morning beverage, in the same way every one must take term Insurance as early as possible. As soon as you start earning, go for Term Insurance and keep adding it with new milestones in life like marriage, children etc.
- Your Breakfast is Health Insurance, this keeps you healthy for the day and protects you from any emergency. A good breakfast is critical for life and you do not move out without having good breakfast. So do not move out unless you have protected yourself and family with a good comprehensive Health Cover.
- Your Lunch is Endowment Insurance – choose it as per your need. This will be most expensive. Depends on your life style and requirement. So endowment is suited for all who wants discipline in life and want a compulsion. If you have energy through alternatives, then you can avoid endowment insurance. Maximum varieties are available in this. Choose after doing necessary research.
- Your evening tiffin is general insurance products like Home Insurance, Car Insurance, Business Insurance, Accident and Disability, Critical Insurance. In evening, you want to have something different so go ahead and fill your basket and balance your life.
- Your Dinner has to give you good sleep. Not heavy but reassuring you for your future requirements. So Whole Life Insurance with inbuilt annual income post retirement should be your dinner.
So have a balanced insurance portfolio like a balanced diet. You will have a long and healthy life through prudent planning.
Insurance Samadhan do not sell any insurance but advocates building a portfolio through a good agent.
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