Insurance policies are highly misunderstood products and often purchased and sold for the wrong reasons. Most employees scramble for investments in in tax saving tools at the end of the financial year. Salaried people need to understand that section 80C tax benefits is only an additional benefit and avoid making it the main excuse for purchasing insurance online. Customer’s main objective of insurance should be to give financial security to policyholders by creating a financial corpus for their future requirements.
Policies should always be purchased by people who have dependents. Before buying a policy, always ask yourself an important question, what if something unexpected happens to a breadwinner? Who will take care of your family in case something happens to you? The answer is insurance that helps policyholders to create a huge financial corpus for their family. Person can take a policy not just to insure him but to also cover his dependents. Majority of people think that insurance products are difficult to understand but it is not true if person seeks guidance from experts.
Some employees may feel that their group insurance offered by employers is sufficient but what in case he or she lose or change his or her job. Suddenly, person will be left without enough coverage. So, do not rely on group insurance only and getting mediclaim cover becomes more expensive at older age due to health conditions and age. Keep online health insurance policies running even if people are covered with group insurance policies. Policyholder will understand the advantages when he or she stops working. Those who are single without dependents have mindsets that they don’t require health insurance, but think of medical emergency.
A single health disorder can easily drain all their savings, so buying a mediclaim policy online and pension plans will definitely make a lot of sense. Remember that if person starts planning early about his financial goals, then it is easy for him to chase his dreams. Due to early financial planning, you may retire rich. Insurance experts suggest every working person to buy health policy online as it cushions his or her savings against unexpected emergencies. In fact, buying a critical illness cover rider to existing plan is also a really good move especially when insured get an illness that keeps him out of action for some period. Mediclaim policy pays the cost of the treatment and hospital and also pays the sum assured only if the conditions are fulfilled.
Term insurance is also one of the best insurance products which serves its purpose and inexpensive. This insurance policy offers a peace of mind as policyholders know that they are covered. But, some people still feel that buying life insurance is a complete waste of money because they are just paying premiums and not receiving anything in return as benefits. Some people judge the importance of policies from its costs. If it’s expensive, then it must be worth it. Generally, term insurance is enough for a life, provided policyholder has the investing discipline and he or she can pursue better investment options.
