Life and health insurance needs

If you can manage the risk of life you can manage everything related to life, goes the cliché. Life Insurance is one such tool which helps us to mitigate the risk of financial loss arising out of unexpected turn of events with respect to your health or an untimely death.

The life insurance can be categorized into two categories life insurance and health insurance.

Life insurance

There are various aspects of life insurance which decide as to what kind of cover a person should take and the extent of the cover.

The basic insurance needs are that of savings, pension, investment and pure risk.

Savings are done with the objective of long term financial needs whereas the investment policies are taken for the sole objective of dual benefit of potential returns and insurance.

The pension schemes are designed to cater to your post retirement finance needs – to meet the day to day expenses when the routine cash flows would dry up.

The last and the most simple are the term plans which are a pure risk product. There are no end returns from it but they cover the financial loss due to untimely death of the insured.

There is loads of information and life insurance articles available on the Internet market where you can take some basic idea about this.

Health insurance

With the advancement of technology the health hazards have also been on the increase. With each passing year a new disease is added to the long list of unsolved mysteries. Every decade sees the advent of a new life threatening disease being discovered in our bodies.

And diseases come don’t come alone. They come with a huge financial burden on the patient. At times such costs can be financially distressing on the patient and their immediate family members. The better and safe option is opt for a health insurance policy and secure your financial future in case of any health problems

You can compare life insurance quotes on the Internet and take the help of your financial advisor to reach at a conclusion.