Types of Insurance

 

There are several types of insurance plans available. Some of the commonly preferred ones include the following:

·         Life insurance:

Life insurance is what you can avail in order to safeguard your family in case of your death during the tenor of the policy. The most basic form of life insurance available to buyers is term insurance. Life insurance helps secure your family financially with a lump sum amount that is paid out in the event of the policy holder’s death within the policy period.

·         Health insurance:

This is purchased for covering medical expenses revolving around various health issues, including hospitalization, treatments and so on. These insurance plans come in handy in case of medical emergencies; you can also avail of cashless facility across network hospitals of the insurer.

·         ·         Home insurance:

These insurance plans cover any damages to the home on account of accidents, mishaps and natural calamities, among other such events.

·         Auto Insurance:

These are insurance plans for vehicles, including cars and bikes. These offer protection against natural calamities, damages to third parties (people who have incurred losses or been hurt in an accident with the policyholder’s vehicle) and also damages to the vehicle along with mishaps and accidents
Insurance is thus the need of the hour in today’s uncertain times -- evaluate your financial situation to choose a plan best suited to your future financial needs.