Insurance is necessary!  Tax savings with security, many more benefits

Insurance is necessary! Tax savings with security, many more benefits

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Insurance News: At one time many people considered the cost of insurance to be a waste of money, but after the corona epidemic, people’s thinking about insurance has changed completely. Alam is that after the outcry of Corona last year, there has been a tremendous boom in the business of insurance companies. The number of people buying insurance has increased rapidly. Insurance companies have also increased the prices of their products.

Insurance has become an essential tool for any individual or organization. In some cases, insurance is required by law. Driving an uninsured vehicle is illegal. Along with protection and investment, insurance is also a great option for tax saving.

Insurance stands as a strong base with us in any emergency, especially in financial situation. Insurance where gives strength to our family to face any untoward incident in future. It is also a great source of savings. Many people take an insurance policy only for savings. It is important to understand that investment and insurance are two different things. By insuring for investment, you do not get the return that is expected.

In the changing lifestyle, the nature of insurance has also changed. Today the insurance market has become huge. The thing is insured. There are hundreds of products in health and general insurance itself. Here we are highlighting the essential insurance products for any family.

Life Insurance
A life insurance policy is a contract between an individual and an insurance provider. In this contract, the insurance company gives financial security to the policyholder in lieu of a fixed fee called premium.

Based on this system, on the death of the policyholder or the policy matures, after some time the insurance provider pays a lump sum amount to that person or his family. There are various types of life insurance policies in the market according to the individual demands and requirements of the policy buyer.

Term Insurance
It is very important for the head of the household to have term insurance. Term insurance provides financial assistance to the dependents of the head in case of non-earning person. The earlier the term insurance is done, the less expensive it is and the more coverage it is. According to today’s requirement, the head of the household should have a term insurance of at least one crore rupees.

Health Insurance Policy
Medical expenses are also increasing due to rising inflation. In metropolitan cities, thousands of rupees are spent on a simple fever. Health insurance has become very important in Aceh. Every member of the family should have health insurance. The entire family can also be covered in a family floater policy. A good health insurance policy covers the cost of doctor’s consultation charges, medical tests, hospitalization expenses and operations etc.

Motor Insurance
If you drive a car or two-wheeler, then you must know that the insurance law of vehicles is necessary. Therefore, comprehensive motor insurance cover must be taken along with third party insurance. This insurance has to be renewed every year.

Accident Insurance
Pradhan Mantri Suraksha Bima helps in meeting the financial loss of the family due to accidental death. Under the Pradhan Mantri Suraksha Bima Yojana, insurance coverage of Rs 2 lakh is available. It is linked with the savings account in the bank. 12 of the insurance premium is debited to the bank account annually.

Home Insurance
Nowadays natural phenomena have also increased. Theft has also started happening a lot. In such a situation, home insurance should also be there. With home insurance, you can cover damages caused by fire, theft and natural calamities.

Cyber ​​Insurance
As we are going digital, the incidents of cyber fraud are also increasing rapidly. The account of our life is floating in the cyber world in the form of data in mobile, laptop. Anyone can break into it. Therefore, one should also opt for cyber insurance cover to protect their bank accounts, prevent misuse of credit cards.

Tags: insurance, Insurance Policy, insurance scheme, Life Insurance

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