Various Insurance Policies One Must Have
Everyone likes to lead a comfortable life, a life cushioned with all the frills and luxuries. People sweat and bleed through their life to fulfill their family’s needs, hopes, and expectations. However, in today’s day and age, the amount of work pressure has increased stress levels tremendously, thereby causing many illnesses. This is why it is essential to protect your family and assets by covering them adequately, and insurance does just that. It provides that extra feeling of security to your family, lest an unforeseen circumstance were to befall you. Given below are a few insurance policies that everyone must have.
Term Insurance is the most basic type of cover that provides no trimmings. In this type of policy, the person insured keeps paying a premium throughout the term period. If the person does not survive that period, his dependents are given the due compensation. Usually offered until the age of 60–65 years, few plans are applicable till the age of 75. It is essential to choose a plan after proper comparison, as different plans have different premium values. There are many big players in the market like Max Life term insurance, HDFC term insurance, ICICI Pru Life and many more who offer term plans with various benefits but it is recommended to choose the best plan according to your need by comparing them all.
Insurance companies offer different policies according to a customer’s needs; one of these is a mediclaim policy. This policy ensures that you receive an assured benefit in case the person insured is hospitalized. They help in supporting and reimbursing any expenses incurred at a hospital during the coverage period. This is helpful in case of a sudden and unexpected injury or illness. It is important to know about the facilities offered by your mediclaim plan. For instance, some plans might offer cashless bill payments, while others wouldn’t. One can choose from the MaxBupa Health insurance, Bharti Axa Mediclaim, Star Health insurance and other major insurance service provider.
Nobody knows what the future holds. It is important to keep your family protected in case of an unforeseen circumstance. In such a case, life insurance helps by paying the designated beneficiary a sum of money in exchange for a premium on one’s death. There are various types of life insurance policies offered by various companies, and we recommend you to choose the one that fits your requirement the best.