Reducing The Confusion Between The Various Types Of Personal Insurance.

These days I keep hearing about people losing their properties or dying an untimely death, and this has got me to wonder, do we have an assurance of risk management? What happens to our loved ones if God forbid we aren’t there anymore to take care of them? Who would take care of their lives, our properties and the other needs of the ones we leave behind? Insurance is the answer to all of these thoughts that ran through my head. You have various types of insurances that would take care of it all, such as home owners insurance, casualty insurance, life insurance, health insurance and so on. You should think of purchasing personal insurance to ensure that your loved one’s needs are taken care off, long after you are gone. Now this would depend on the number of personal situations you would need to take care of. Think of your age for example, and how long you think you would live. To make it easier for you, I did some research on various types of personal insurances you could think of reading up on.

Your life is precious

Hence without a doubt I chose reliable life insurance coverage. This means my family would be eligible for a good amount of money to take care of their needs, long after I am gone. My spouse and kids are dependent on me, and after me I don’t want them begging from anyone else. Hence the amount I chose on this policy would take care of their needs, which would be paid to them. This would also cover my funeral costs, have you seen what they charge at the funeral homes these days? Even dying can be expensive!!

What if I am disabled completely?

I know someone who went to the shopping centre on two feet and came back home on life support, paralyzed and disabled. God forbid that happens to me, and hence I thought of getting total & permanent disability insurance done for my family and me. This means, if I am disabled due to someone else’s act or folly, there would still be a check coming to me every month. Hence I wouldn’t have to worry about not being able to earn, since a disabled person would be on bed and unable to work. Your life insurance policy would come with this scheme.

Illnesses that are critical

Another form of person insurance would be to take care of serious illnesses, especially when the bills are high. Heart attacks, deadly cancers and strokes could take your life. A lump sum would be given to you for your treatment. And if you don’t have this, expect to pay from your pockets or refinance your mortgage to pay the bills here.

Insurance for income protection

Very important form of personal insurance and should be taken by all. As a bearer, you would receive a check every month, just in case you haven’t been able to work for a long period of time, due to injuries or sicknesses. You would be protected against financial debts and obligations, mortgages too. And if you are self-employed, this personal insurance scheme works better for you, because you would need protection and wouldn’t have an �employer� covering those needs.

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