Personal Finance by mishra2013

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									                          Personal Finance

Insurance a word that we often choose to ignore! We wonder "Nothing is going to happen to me. Why do I need

insurance?"


Insurance is a must be for our life, our loved ones, or our home and valuables. We never know what is going to

happen the next second. A sudden illness or accident may cause immediate hospitalization and a lot of money might

be spent on treatment. In such an event, a Personal Accident or Health Insurance policy might come in very handy.


A life insurance policy will support your family if you die in an accident or illness. The insurance company will pay

your family an amount linked to your insurance premiums and original policy amount. This money will help support

your family and provide much-needed financial support to them. This becomes even more significant, if you are the

only earning member of your family.


Similarly home insurance protects your home and valuables in it from the ravages of Nature, fire, terrorist attacks etc.

It takes lot of money and time to build a house. So it makes sense to opt for a comprehensive home insurance

product.


Motor insurance, protects your vehicle from theft, damage due to accident and also offers a personal accident cover

to the insured.


The points listed above bring out the importance of opting for insurance. Now opting for insurance alone does not

protect a person. The person has to pay the insurance premiums on time to avail the complete benefits of the

insurance policy. In many cases people tend to stop paying their insurance premiums after a few years and this

causes the policy to lapse. Every year many cases are recorded where people die in accidents and they do not get

any money from the insurance provider because their policies would have lapsed for non-payment of premiums.


                                                                                                      Thanx

								
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