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Jun 28

Insurance Policies Everyone Should Have Including Child Insurance Plans!

Insurance is one of the most vital financial instruments everyone should invest in. It protects you through various stages of life and provides cover whenever you need it the most. Be it an emergency medical condition or a death of the earning member, a car accident that leaves your car in a dilapidated condition or a fire that destroys your home, it becomes extremely difficult to arrange finances for these situations. This is when insurance comes into picture and stands tall, thereby protecting you from a condition of financial misery.

There are a wide variety of insurance policies available, such as life insurance, medical insurance, and Child Insurance Plans. We will brief you through 4 most important insurance plans that you should buy today itself

1. Life Insurance
Every earning member of the family must have a life insurance. It is a financial instrument which requires you to pay a premium twice a year, and promises to pay your family the designated amount during the time of your death. While it is considered a bad omen to think about death, it would be advisable to purchase life insurance if you care about your family and dont want them to suffer after your death.

2.Health insurance
Health insurance plans offer complete medical coverage in case of an operation. Since medical treatments are pretty expensive, you shouldnt compromise on this insurance and opt for the best health insurance available in the market. There are two basic types of health insurance policies. The first one takes care of your hospital bills upfront, whereas the second one requires you to pay the bills and then reimburses you for the same. Both the types have their own merits.

3. Auto insurance
Has your vehicle ever been a part of an accident where you werent at fault, yet had to bear expensive repair costs? It happens quite often with a lot of auto owners. To ensure that you dont have to bear your vehicles damage charges, you should purchase auto insurance. It requires you to pay a minimum amount of money towards the premium charges and in return, it covers your vehicles expensive damages. Auto insurance is also known as accidental insurance.

4. Fire insurance
Nobody imagines their personal assets getting destroyed by fire. But we often hear in news channels about houses getting gutted in the fire, and people losing all their belongings. You should be prepared for such types of calamities too. If you are wondering which insurance will come to use, fire insurance is the answer. It can safeguard you against such natural or manmade calamities.

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