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Insurance Types

There are so many types of insurance policies available in the market. You can insure your life, health, home car and so many others. Below I am going to discuss some of the most common policies, which people normally takes.

Health Insurance
This kind of insurance is basically related to your and your family's health related problems. Once you have taken health insurance either for yourself or for any of your family members you can go to registered hospital for any kind of treatment for which you are registered and the payment will be done by insurance company, however you will have to submit bills to them to claim your amount.

Most people get health insurance from their office itself for a limited amount and they can nominate their family members as well in the policy. Always keep in mine some points while taking health policy like how much premium you will have to pay, for how much you are covered and for what all disease.

Nowadays If you going to a hospital for a minor disease like fever it takes some thousands.If you got any major problem it takes more money from your saving.It totally damage your saving account.To prevent you from this type of risk you need to take health insurance for your whole family.It help´s you to save your money from hospital bills.Many companies take health insurance for there employees.In my point of view it is very important policy for a middle class family.In this policy you need to pay some thousands for you whole family.It is very cheap compared to the hospital bill´s that you pay.

Life Insurance
Today almost everybody knows about this policy and people are even aware of the importance of life insurance. Life insurance as understood covers your life in case of any mishappening. People take this policy so that if something happen to their life then their family would have something to survive. The money you invest in Life insurance will come back to you only after maturity or in case of death of the insured person. People who come under income tax slab also get benefit from the insurance and get tax rebate. Following things need to be taken care while choosing a life insurance plan.

  • The policy should be in a person's name that is earning member of the family since that person will have to pay the premium amount of the insurance.
  • Try not to take policy in our children's name, take the policy for other family member for the benefit of your children.
  • Always keep the insurance amount less so that you can invest in other financial plans.
  • Never taken expensive plan like credit or mortgage life insurance, instead always go for general life insurance..
  • Discuss each and everything about the policy from the agent who is giving you the policy like for how much amount you are covered and how much you will get at the time of maturity. What would be the premium annually, half yearly, quarterly or monthly etc?.
Life Insurance is very very important Insurance policy for a family man.If you are in good health condition you can earn more money to your family.But unfortunately you die due to an accident or a health problem your family income is stopped.Your family is always in critical stage by your death.This time the financial problem also give more problem.So if you need to prevent your family from this kind of problem you need to take life insurance.You can choose amount of insurance and you need to pay the premium respectively.After the policy time the money will be back to you.

Home Insurance
If you have your own house and you want to get recover from any kind of damage to your house then you should take this insurance. People take this insurance to protect against damage from any kind of natural disaster. All insurance companies have different rating for the insurance they provide, so you need to check which company is has what standard for each rating.
  • While choosing a plan check what all have been covered in the policy apart from the house, for example garage etc.
  • There are two types of cover resale cost and rebuild cost. Rebuild is a bit expensive but provides better coverage.
  • Mostly when you take home insurance policy it does not cover the households so you need to check this also. If you want to cover households also then you can do so by paying extra fee. Make sure the cover has replacement value.
Vehicle Insurance
These days there is so much crowd on the road in big cities and in small towns as well. So people who have their vehicles must cover with Vehicle insurance. This kind of insurance basically covered you car or scooter from any kind of damage happens on road.

So there are so many types of insurance available and you can take them as per your needs but check thoroughly all the documents, terms and condition while taking any kind of policy.

Vehicle insurance is most important one.Because if you drive your car,bike or other vehicles that are not having Vehicle insurance is illegal.So if you compulsory take Vehicle insurance for your vehicles.Auto insurance can helps when the vehicle theft or it meets an accident.In that time you can claim your insurance amount to the respective insurance company.

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