Life is unpredictable and unforeseen events – like accidents and health scares – can occur at any time. However, even in the midst of such uncertainty, you can achieve peace of mind with insurance. Whether you are worried about financial security or the safety of your loved ones, insurance can help you with every unforeseeable aspect of life without burning a hole in your pocket. Let’s take a look at why there is an urgent need of insurance in today’s times.

Today, insurance is an absolute necessity because of the following reasons:

• Financial assistance in emergencies: With insurance, you can pay for medical emergencies, vehicle damages incurred in an accident, home repairs incurred due to unforeseen calamities, and so much more. You can choose from a range of general insurance plans that cater to cover very specific situations of uncertainty.

• Financial buffer for loved ones: Insurance provides a financial buffer to the family in case of the unfortunate death of the sole bread earner. The funds can also be used to repay debts that the deceased person may have incurred during their lifetime and can also help the bereaved family members run their home.

• Safeguards the future: Insurance can also help to safeguard your children’s future, especially in terms of education. Even if you face an untimely death, insurance can ensure that your children will be financially secure enough to complete their education and pursue their dreams.

• Helps with future planning: You can also opt for an insurance policy that comes with savings and investment schemes apart from offering regular insurance coverage. You simply have to pay premiums regularly, and a certain amount of money is put towards life coverage and another towards a savings or investment plan.

Buying insurance needs careful consideration on your part as you must understand what kind of coverage will benefit you the most. To help you out, here are a few common insurance policies that we all must consider having:

• Life insurance: Life Insurance is vital because it can protect your family in case you pass away during the tenure of the policy. It provides your family with financial security through a lump sum payout in case of your death. You can choose between term and whole life insurance plans as per your requirements and budget.

• Health insurance: Health Insurance helps you cover the costs of medical expenses, right from diagnosis and testing to hospitalisation and prescriptions. The cashless facility provided at network hospitals is very convenient during distressing times.

• Home insurance: With this type of insurance, you can rebuild and repair your home in case there is an unfortunate accident, mishap, damage caused during a natural calamity or similar catastrophic events.

• Auto insurance: This type of insurance covers your vehicle against damage caused by natural calamities, theft, or accidents. It also protects you from costs incurred due to damage caused to third parties during any collision.

Now that you know more about why insurance is so important make sure to avail of the protection such policies offer. Be sure to please read the terms and conditions carefully before your buy insurance.