How Important Are Health Insurance And General Insurance In Our Lives?
Why you need health insurance?
‘Health is wealth’ is not an understatement! Health is so valuable that it should be insured. Your good health can take you to new heights. However, the uncertainty of life can always come in the way. You never know what is going to happen the next moment. I may sound like a pessimist but there is no harm in securing your health. A disease or ailment can come up at any point in life. And what do you need the most when that happens? Money!
So, you need a health insurance that will help you financially when you are in trouble. This way you will not have to run helter-skelter for money when there is a medical emergency. It is wise to cover yourself and your family members under a health insurance plan so that when hospitalization is needed, help is always at hand.
Health insurance is provided by so many companies these days and they are pretty pocket friendly too. You can search for different health insurance providers online and compare the benefits they offer and zero-in on the best plan. Don’t just look at the money part, do consider the benefits offered by the insurance plan. Also note that your current job may be covering you and your family but if you happen to lose or quit your job, your medical expenses have to be borne by you personally. So, just go in for a personal health insurance policy.
Why you need general insurance?
Uncertainty of life just doesn’t stop with health. Catastrophe can strike the things that you own too. If you want to live a risk-free life you should think of securing all the valuables you own.
Basically, the valuable possessions in life are your house, vehicle and business. You need to insure them so that if something untoward happens to your belongings, at least you can get a claim. General insurance includes the insurance of the property against theft and fire, liability insurance and also accident and health insurance.
The main reason for general insurance is to protect your assets and belongings from financial loss. It is obvious that you need to protect your property that you have built with your hard-earned money.
General insurance is classified into 4 categories
- Motor insurance
- Health insurance
- Travel insurance
- Property insurance
We have already discussed health insurance above, so let us talk about the rest.
Motor insurance is compulsory and it protects your vehicle against damages from fire, theft, explosion, accidents, floods, earthquakes and cyclones.
Travel insurance is mainly for travelling abroad. It covers the cost of hospital treatment due to an emergency. The policy also helps monetarily when there are issues like flight delay or cancellation or loss of passport. If, God forbid, the insured person happens to die during travel, the nominee gets a sum of money.
Property insurance covers your property from fire, flood, storm and earthquakes. There are plans that protect from theft too.
Insurance, on the whole, brings peace of mind in life and that will make you live longer.
Are you getting your health insurance and general insurance done?
Hope you found this post on the importance of health insurance and general insurance useful!
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