Category Archives: Important Insuarances

Importance Of Child Insurance

Becoming a parent is one of the most special moments in one’s lifetime, but along with the happiness and pride, comes the responsibility of bringing the child up in his best behaviour and ensuring that his/her future is secured.

1

 

The biggest commitment of a parent is perhaps being able to provide the child with the best possible education. Hence, parents should start planning as soon as possible, so that no compromise needs to be made where it concerns the child’s intellectual future. Child Insurance is a necessity and there are several advantages attached with the various insurance plans that are available in the market.

Are these child insurance policies worth the money?

There are various savings policy types available which provide the nominee with the actual amount insured for him/her once he/she attains a maturity age of 18 or 21years depending on the policy that have been chosen etc. Additionally, the insurance company also puts the premium amount into the same plan on behalf of the policyholder. One should opt for term policy, which will depend on the income of either of the child’s parents. Most parents start planning for their children over 10-20 years before their milestone years. Life insurance policies for children are more affordable than any other life insurance policy. The parents are the investors, while the final beneficiary is the child when he/she grows up. In case the parent dies, a lump sum amount is given to the family but the child insurance plan doesn’t cease to exist. It acts as a corpus that remains intact till its exact maturity date. Additionally, the returns on insurance policies for children are tax-free and can save you a lot.

Conclusion:

2

Nowadays, every Indian insurance company has a child life insurance plan. However, differences in the conditions still exist between plans and it is necessary to do your part of research for seeking out the best investment for you before signing on the dotted lines. Calculation done by a professional will give better results as it involves several factors like future market conditions, educational expenses, emergencies, etc. So, planning ahead in advance is your only option. Most of these child insurance plans aim to meet your financial needs. These insurance plans provide you with funds at pre-fixed intervals, which will help to meet your child’s financial needs at different milestone years. Now that you know the different aspects of child insurance and its importance, grab the perfect one for your child.

Insurances You Must Have

Insurance allows individuals and businesses to safeguard themselves against potential losses at an affordable rate. The perfect insurance policies will help you protect your earnings and possessions at least financially, should a disaster happen.

There are numerous insurance options available and with so many options, it can be really difficult to determine what insurance you really need. Purchasing the right insurance must always be determined by specific factors such as age, children, lifestyle, employment benefits and so on.  In this article, let’s guide you through some insurance policies that should not do without.

Life Insurance:

1

Life insurance protects people who are financially dependent on you. It should be high on your priority list of insurance policies. No matter whether you are single or people are dependent on you, life insurance is mandatory. Single persons need life insurance at the very least to cover the costs of their personal debts and medical bills. One of the main objectives of taking insurance is to provide financial coverage to your family in case you are not around but this is not the only objective. It also helps you to build a protection for yourself by providing you with a comfortable retired life and taking care of your lengthy medical bills.

Health Insurance:

health-insurance

Health insurance is a type of insurance coverage that pays for medical and surgical expenses that are incurred by the person indemnified. These insure you against several illnesses, while assuring that you remain financially secure should you ever require treatment. They eliminate all your worries about treatment expenses and allow you to focus your energy on getting better. For individuals and families who do not have proper mediclaim, any sort of hospitalization (a small surgery or something critical) means spending money from their pocket to pay the hospital. With the current medical costs rising year after year in India and worldwide, this can set you back big time.

Automobile Insurance:

2

Automobile insurance is something you should never skip. If you are involved in an accident, and somebody gets injured or their property is damaged, you could be subjected to a lawsuit that may cost you everything that you own. Accidents happen quickly and the results are often tragic. Having a proper auto insurance, saves you from all the unnecessary heckles and loss of your hard earned money.

Home Insurance:

1

We all know that the basic necessities of an individual are food, clothing and shelter. Not only the cost of buying a house is expensive in today’s world, even the cost for renovating a house is quite high. You can insure your house and all the amenities included when you buy a home insurance. It also protects you against damaged caused by unforeseen events like burglary, fire, theft, etc.

Conclusion:

Insurance policies come in a wide variety and boast about many different features, benefits and prices. You should read the policies carefully and talk to the agent to be certain that you understand the coverage and the cost.