Insurance plans are beneficial to anyone looking to protect their family, assets/property and themselves from financial risk/losses. Needless to say that insurance plays a pivotal role in your life by helping to provide financial security to you and your family at the time of emergency. Investing in insurance is not merely a tax-saving option, but making small investments over time will offer you security in advance. Insurance plans will help you pay for medical emergencies, hospitalisation, contraction of any illnesses and treatment, and medical care required in the future. Insurance is playing a supportive role in case of fire, theft, flood etc to recover the business loss and stand by again on the foot.
While insurance comes with costs in the form of premiums, it helps to mitigate the potentially high costs of unforeseen events. It is important to carefully evaluate your needs.Insurance premiums could be expensive but not having the correct type of insurance could be far more costly.
REASONS TO HAVE INSURANCE ARE:
Insurance coverage does reduce the impact of loss that one bears in perilous situations.
Insurance coverage provides a feeling of assurance to the policyholders.
Feeling of assured that in case of business loss there is back up plan who will share your business/medical risk
Person disabled to work is also a financial loss only. So we should value the risk of financial loss accordingly and get insured for the same.
