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WHICH TYPE OF INSURANCE YOU NEED FOR YOURSELF



Life with all its wonderful moments can be uncertain too. We all have to take some preemptive measures to deal with these kinds of uncertainties. Insurance is such offering that provides you a financial cushion to protect oneself and your family members during tough times. There is a wide variety of offers to choose from insurance market such as "Life, Travel, Health, Home and Car Insurance". The choice of right insurance plan as per your requirements gets tougher sometimes with the multiplicity of choices. Here, we are providing you an insight into the type of insurance you need for yourself.

Opt for Term Insurance in Early Age: The motto of your life in your early age should be pay early and pay less. The sooner you buy a Term Insurance for yourself, lesser will be the premium is. It is cheaper than other life insurance products that provide an assured amount to nominee if insured person dies during policy period. This plan expires once the policyholder attains an age of 60. So opting early for insurance will ensure a cover for a longer duration at affordable premiums.

Health Insurance: A health insurance cover must be a part of your financial portfolio, irrespective of your age or earnings. The hiking prices of health care with increased risk vulnerability owing to modern lifestyle mean that health concern can deplete all your hard earned money in one go. Health Insurance gives you ample time to stay financially protected from any existing disease. It also offers tax benefits that can ensure optimum savings.

General Insurance Cover as per Your Needs: When you plan Insurance; Life, Health, Home and car insurance covers are notable ones, but there are various other options that can be equally effective for your needs. There are ample insurance plans that can be customized for your requirements such as insurance cover for misplaced keys of home, cover for amateur sportsmen and even for a second medical opinion. It is advised to do a proper research about these general insurance plans before zero in on the best deal as per your risk and requirement. For example, if you are a pet lover, you can go for a pet insurance with your Life Insurance plan.

Priorities Protection Over Anything Else: When you are about to choose insurance type, priorities protection over any kind of investment, returns or tax saving components. For example "Term Insurance Plans" are not only budget-friendly but they also offer optimum protection compared to investment plans. Opt for insurance as an add-on investment once you have ample coverage and protection plan in place as per your financial requirements, your dependent family members and their future financial goals.

With so many insurance plans available in the market nowadays, choosing up the right plan can be a tough task. Your coverage needs depend upon your age, earnings, long-term goals and protection requirement of your dependents, so you should assess these needs before opting for an insurance plan.

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