The basic aim of insurance is protecting your main resources be it your house, Insurance Policies shop, lifestyle or health. Ensuring your future earnings through insurance is one of the most important financial steps towards building a healthy financial future. The insurance market is full of insurance products with a verity of policies and sizes boasting different attributes in the cheapest premium. In such circumstances, the insurance buyers often get confused about choosing products that they actually require. But this is the worst thing we all do this far financial planning is concerned. The best way to eliminate this situation is to educate yourself; using different sites offered or may seek help from your financial planner or agents.

Know About Insurance Policies 

As insurance need is totally private, and vary person to person, you first determine your insurance needs. Like other items, buying unnecessary insurance providers also is a wastage of hard-earned money only. Suppose you do not have any financial dependents, and you choose to obtain a term insurance policy. Is it the right purchase? Unquestionably it's not an educated choice since no one will get benefits out of it.

Keeping buyer's needs and confusions in purchasing insurance products in mind, I am listing some significant insurance policies everyone should have.

Four Insurance Policies Everyone Should Have


Insurance Policies
Insurance Policies


1. Term Insurance Policy

You must take a term insurance policy of adequate sum insured; since you are never going to need your loved ones to cover your debts when you're gone. The objective of a term insurance policy is not providing financial cushion to you but to safeguard the financial future of your loved ones if you're not around. Have you ever thought about what will happen to your kids if something unfortunate happens to you? Will they be able to continue their schooling? A term insurance policy assures their good fiscal health. You have to take a term insurance policy too because it gives the easiest cover.

2. Health Insurance Policy

Considering the rising cost of healthcare, health insurance policy is another handy financial product to purchase. One minor injury or illness may come into a huge fiscal crisis. For most of us, getting quality health care with a health insurance policy isn't reasonably priced. An illness that needs surgery can quickly rack-up huge amounts which makes you unhappy financial wellbeing.

So it's strongly advisable to take health insurance cover at an early age when you are in better health shape. The premium rate is less when you're younger and decent health.

Insurance Policies
Insurance Policies


3. Motor Insurance Policy

By the India Motor Vehicles Act 1988, it is compulsory to possess third-party liability' cover to all vehicles plying on public roads in India; while 'comprehensive cover' is created optionally. But purchasing comprehensive Cover' to your automobile gives up complete peace of mind. A 'Comprehensive Cover's insurance policy along with providing protection from financial losses to you it also covers liabilities for injuries, damages to other people brought on by your car.

4. Personal Accident Insurance

This is one of the products that most people don't think useful, and therefore, rarely go for it. But the truth is that accidents can occur anytime and anyplace. A Personal Accident Policy is meant to offer financial aid if you are disabled and unable to work an interview after a crash. The unique feature of Personal Accident coverage is that it frees your income when you become disabled, maximum for 2 decades. In any case, such as term insurance policy, it also pays death benefits to your family if something unfortunate should happen to you.