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How does a Reliable Insurance Policy Make Life More Secure?

Posted by Royal Sundaram on 07 May 2014

Uncertainty is the only certainty…     ~ John Allen Paulos

The reality is that everything in life is quite unpredictable. While we always hope for the best, it is only prudent to be prepared to face the worst rather than be caught unawares. This is where the various forms of insurance come to our rescue. Insurance is what saves us from a financial crisis when calamity befalls us. Be it a medical condition or the demise of the earning member of the family, insurance can help you cope with the financial liabilities brought up by the unfortunate incident.

173101352How Insurance Brings Security

Knowing that there is a corpus of funds to fall back on in times of adversity can give peace of mind like very few other things can. Here are some of the major reasons why taking on insurance cover brings such security to our lives:

  • A health insurance or Mediclaim policy takes care of the financial needs in case of health related issues including injuries sustained due to accidents, undergoing of surgeries or any other ailment that requires hospitalization. It covers the hospital bills, the doctor’s fees and the various other related costs incurred by the insured.
  • A travel insurance policy covers various kinds of financial needs that could arise while travelling either within the country or abroad. It includes baggage loss or damage, trip cancellation/interruption, medical exigencies while traveling, hijacking and overseas funeral expenses. A travel insurance policy is a must, especially when going abroad.
  • Auto insurance covers your vehicle against various situations that could cause damage or complete loss of the automobile, such as an accident, collision in traffic, theft, natural disasters and other such occurrences. In India, it is mandatory by law to take on insurance cover whenever a vehicle is purchased.
  • Home insurance is a type of property insurance that protects your house and its contents against damage or loss due to various circumstances, such as theft or physical damage to your house due to natural calamities. When buying a new house, make sure to get it insured.

Various insurance policies not only provide you security from unforeseen events but also act as an investment tool, wherein you can claim tax exemptions for the premiums paid or even gain profit on the premiums. So, enjoy peace of mind and a sense of security along with tax benefits and investments with your insurance coverage.

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