Many of us think taking insurance is a cost and utter waste. But, remember, this cost is very least when you compare the benefits that accrue to you in the event of an unfortunate event . Moreover, the money spent in insurance contracts can be a good savings -cum- investment for your life and the family. You make a choice of good plans to cover the basic risks of your living like Life, Health, Home, Vehicles, etc...
Insurance takes care of the welfare of your family. For your business or profession, go for the policies that will insure the risks associated with your products, fixtures and fittings like plant and machinery, etc...
Even insurance for human organs or body is available at a special price. Celebrities do have such insurance for their body assets: Julia Roberts for her smile, Daniel Craig for his body, Jennifer Lopez for her derriere.
Do's & Don't s
- Always read the contract notes when received after committing to an insurance cover. Possibilities are there, that even after taking all precautions prior to buying the insurance product, some exclusions to the risks coverage.
- Always keep the policy in force by paying the premium regularly. Your claim will be rejected if you have not paid the premium.
- Always Keep the insurance company informed if you make any changes in the Address, change in the nature and composition of assets covered,etc...This issue crops up in the case of business assets and movable assets like vehicles. When you buy a second hand asset, the risk is more: you have to ensure the title is transferred in your name before taking the insurance.
- Always buy Life insurance covers from the reputed companies which have a good name in the market.
New insurers tend to be inclined towards more business and profit , rather than the payment of the claims under their policies.
So, Insurance cost is a Not a Liability but an Investment for Future asset.
You get more benefit from Accident and Term insurance at a low cost. BE INSURED FOR HAPPY LIFE.