Insurance policy provides a shield from any unforeseen circumstances that can take place. Many companies are stepping forward to give the best coverage. You can have number of policies but you need to understand the value and need of plan.
Most people always apply for the policy after calculating their families needs, because they want that after them atleast their families should not face any problems regarding finances.
Before deciding the number of insurance policy, you need to consider your salary or earning because your premium depends on your salary structure and by calculating your salary you will have a clear picture that how much can you afford as premiums. The best policy limits you choose t6otally depends on:
- We all travel from one place to another on a daily basis and life is full of uncertainties, accidents can take place at any time and can result in disability, damage or even death. To cover this risk you will need to buy an accidental coverage policy. But you’re expected and estimated value should match accordingly.
- To secure your family you need to take a life insurance.
- You can fall sick or get injured at any time and to cover up the risk you should buy health policy. According to different coverage’s the limits exceed or decrease.
- Your property needs protection from fire and natural calamities. There are various insurances provided by the companies such as: flood, earthquake, home insurance, the coverage also considers the depreciation value of property and will not exceed to 25% of limit. Within 15 days the insurer should submit all the details regarding the loss occurred then only he will get the claim.
Insurance not only covers risk of damages and loss but also help in getting tax rebate on our annual income. Always ask your relatives or friends about the policy because maybe they should know the best coverage providers as compared to others and you can avoid getting trapped with expensive and unsuitable schemes. Therefore, Insurance is the best medium to secure future of you and your family members.