How Your Insurance Cover Can Change Your Financial Position!

How Your Insurance Cover Can Change Your Financial Position!

Life has become pretty unpredictable these days. Even as there are lots of opportunities for an individual to grow higher in life and fulfill all his dreams, it has become equally an unfortunate fact that the kinds of twists and turns life offers are fairly uncertain. One moment you’re riding high on success, the very next moment can bring you down with an accident or illness or a death in the family that breaks you down not only emotionally, but physically as well as financially.

When life is going well for us, we don’t care much about the dark side of it. Humans are anyways psychologically programmed to think of being immortals and death for us is always something that happens to others. We somehow tend to think that an accident will happen to others, someone else will fall sick, someone else will face a sudden mishap in life unless all of it happens to us! That’s the time when we panic, scramble for funds and find our lives turn topsy-turvy to reach a point of no return.

Only if we have a vision and the ability to plan ahead can we sail through such uncertain times and come out unscathed or at least be able to move on in life and stand on our feet again. More than family love and support, it is the financial aspect that can make or break us and be having an insurance cover is a small, but firm step in the right direction.

Imagine a scenario where either you or someone very close to you suffers from a critical illness like cancer or kidney failure. This sudden development will affect your mental as well as financial health in a negative manner. Not only will you not be able to focus on your work, but the treatment for such diseases will squeeze out every rupee you have earned or saved and even that might not be enough.

Or think of a situation that the only earning member of a family suffers an accident losing his life or suffers from permanent paralysis! How are the family members going to live after him? Who is going to take care of life-long medical expenses?

These are the situations that call for having an insurance cover. Let’s understand the major types of insurance covers at your disposal:

Health Insurance: This insurance cover can take care of any health emergencies that you or your family member face, which includes hospitalization expenses along with pre- and post-hospitalization care too. In the case of critical illnesses like cancer and AIDS, it also helps to provide a lump sum amount that can be used for a long-term planning. One of the best features is cashless insurance that really comes handy in times of need.

Term Insurance: This is the most common form of insurance available to help your family members in case of your untimely death. The nominee gets the complete sum insured that goes a long way in helping the mourning family to put the pieces of life together and move on.

Motor Insurance: The vehicle you purchased with great care and affection that still has installments pending should not be left to suffer due to others’ driving mistakes or be allowed to be robbed by a thief! With motor insurance, you lessen your risks and even lessen your expenditure in maintaining your automobile with free repairs and personal accident coverage.

Home Insurance: Your heart is where your home is and a home insurance cover ensures that everything related to your heart remains safe and secure. In times of natural calamities like fire, earthquake, storm and the likes, it may not save it from destruction, but it can surely help you to rebuild it from scratch without incurring any financial losses. This insurance covers the material inside the house as well!

Having an insurance cover is like having an umbrella in the rain. It not only keeps you from getting wet but also ensures that you reach your destination without any hassles! Whether you are earning in millions or belong to a middle-class family, the financial setback from illness, death or an accident can be life-long. With insurance, you can reduce your financial stress and focus on rebuilding your life-giving attention to aspects that are more important than money.

It is a wise decision to stop everything you’re doing and get yourself insured as soon as possible. It’s only one life and should not be put at risk just because you can’t spare a few minutes of your precious time on making sure that life goes on smoothly!

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