The following is a guest post on behalf of Life Insurance:
Planning for the future – whatever it may hold – is an important and often neglected part of your overall financial plan. In this piece we’ll discuss five types of insurance policy that can give you a solid financial base to fall back on if the worst should happen.
Life insurance protects your family if you pass away. To shield them from the worst financial consequences, you should plan ahead by selecting a policy that would replicate your future earnings in the event of your death. Andrew Watt, a life insurance expert from lifeinsurance.org.uk says: “Long term dedication to health and fitness is a sure fire way to live a more fruitful life and will leave your family at less risk of losing someone they love too early”
Health insurance is a great way to ensure your peace of mind. Hospital bills can be punitive, forcing families to make an awful decision between poverty and proper healthcare. To stop that choice being forced upon you, proper health insurance is a must.
Disability insurance is one of the most underused types of policy, simply because it is awful to consider that one day we might not be physically or mentally able to work. In the USA, one in 5 people is classed as having a disability. Half of those disabilities are considered “serious”. It is better to plan properly that to ignore the possibility that you might become disabled in the future.
Home insurance covers you against damage to your property. Be sure to check whether the policy covers common problems in your area – flooding is a big issue here – before you buy.
Car insurance is required under law in many countries, but even if it isn’t, it’s an indispensable part of owning a car. In the event of an accident, insurance will help you pay for repairs not only to your car, but to other people’s property as well.
Above all, remember to shop around and take professional advice before committing to a policy.