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Choosing the Right Insurance for Your Family

Choosing the Right Insurance for Your Family

It’s always wise to choose a family health insurance plan that covers routine health needs provides coverage for any kind of emergency.

We all love our families and want the best for them. Even the thought of something unpleasant happening to them makes us shudder. So it's very important we are always fully prepared for any unforeseen emergency. And choosing the right insurance policies for them is one of the ways we can support and prepare them for the future. But how do we ensure we choose the right plans for them. Here’s a little help.

Health Insurance

It’s always wise to choose a family health insurance plan that covers routine health needs provides coverage for any kind of emergency. Some health insurance covers vaccinations and preventive screenings free of cost. Make sure you check this before buying one. It is very important to get a health insurance from someone who has a good background and is known to have easy processes and minimum documentation when needed.

In a nutshell, here’s what you need to check;

1) Check what kind of health cover is included.

2) See which indemnity cover suits you.

3) Have an estimate of how much health cover will be required for you and your family

4) Check for the sub-limit in the plan

5) Do check from when pre-existing ailments will be covered.

6) Check for co-payment feature

Life Insurance

Life Insurance provides financial help to your family if something were to happen to you. With a ‘term’ life insurance policy you are making sure your family stays financially strong in case of a mishappening. Sometimes employers also offer life insurance to their employees. But its not just limited to that. You can use your life insurance as a means of savings and tax benefits. So make sure you get one that suits both your needs.

These are the major two insurances one should get to make sure you give your family the rightful support it deserves. There are many more that you should research and get the ones that you think suits your lifestyle and needs.

Here’s how you can decide on which life insurance to buy

1) Decide the reason why you need cover

2) Research about the kinds of life insurances and consider which one suits you

3) Consider your life stage

4) Inquire about the features and analyse which ones matter to you

5) Think of premium payments as a fixed expense

6) Take the help of an expert or a consultant if you are not sure.

To know more, click here.

This content has been created in association with YONO SBI.

first published:May 13, 2019, 11:08 IST
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