The Need for Getting Various Insurance

  • 22 November 2015 | 1284 Views | By Mint2Save
The Need for INSURANCE

The bread winner of any family puts all efforts to earn bread & butter enough to quench the hunger of each of the family member. He/she toils all the time putting all efforts to make the everyday life and future comfortable and, in turn, each one of the dependant feels safe & secure. The breadwinner takes care of the family because of the love & affection , attachment by heart, mind and soul  and he constantly worries about the each one`s future too, in all respects like education, employment, marriage, dwelling and what not.

Bread Winner

This stands good so long he is and able to. Imagine a situation where the bread winner faces sudden demise, becomes unable to earn due to old age, sudden illness/ailment, or becoming handicapped for any one or the other reason.

What a miserable and pitiful condition the family may have to face; mere imagination can bring forth shivering. Such a problem/ situation which sometimes appears inevitable/ unavoidable, needs pondering thoughts to find a solution.

Similar financial crunch is faced by the family, when investments such as house, car are subjected to severe damage or unfortunate issues like theft.

Health is also such venue where there can be sudden loss of funds and can bring family on the brink of financial crunch.
It is a well known fact that every one saves money to ensure a provision for a safe and economically sound future. However, owing to the aforementioned events, the future might go dark with clouds of uncertainty and be debt ridden.

Insurance

Having an insurance policy is an effective tool to meet such a situations/circumstances effectively.

By paying an appropriate amount/sum on monthly/quarterly/half yearly/annual basis per convenience, as premium, for a sum assured, to be benefited with the family after maturity of the policy or ensure economic support to the family members in case of sudden demise of the insured bread winner.

It serves two purposes, viz. i) a compulsory saving for future and, ii) assured provision for meeting the economic needs on maturity in life time or in case of sudden demise/death. It is very well said that insurance ensures its companionship with the insured even when he /she is not.

It is always advised to have enough sum assured through an insurance policy per your bearing capacity/need. The government too, encourages investment made in procurring insurance policy by giving rebate in paying income tax.

Need of Insurance

To enjoy higher benefits of any insurance policy by paying lower premium, it is advised to purchase the policy for long term and at a younger age.

Many people use to compare the amont receivable after the maturity of the insurance policy with the amount that can be fetched by investing money of the same magnitude in other saving scheme like F.D./R.D./ Bonds/debenture/ Equity and so on and the value reciveable inclusive of depreciation and, find insusrance as a instrument with lesser gain. But, one forgets about the Risk Cover that is provided by the life insurance policy even by paying just one premium, the only instrument with this beautiful and most adorable & important feature.

You will find many types of insurance polices suiting your need per future plans and affordability ,viz. money back policy,marriage policy,educations policy,whole life insurance poilcy, endowment policy and may other ones. You must choose/select an insurance policy per your future plans & need and afforasbility.

They are many a companies offering various types of insurnace policies. Each one lures the people by offering insurance policy offering lucrative features regarding lower premium, higher bonus, medical facilities in case of accident by reimbursing medical treatment expenses in full or part, wavier of payment of further premium payment in case of disability and so on.

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