Nobody can prevent the unexpected from happening. but sometimes you can protect your family from the worst financial situations. Insurance can protect your family from this kind of situation.
It’s advisable to choose the right type & amount of insurance for your situation. Various situations like, your age, sex, family dependents, lifestyle etc.
Four major insurances are Life Insurance, Health Insurance, Disability Insurance and Auto Insurance.
Life Insurance
Life insurance is a contract between two parties, a policyholder and the Insurer. Insurance companies promise to pay money in exchange of premium, upon death of the policyholder or after a certain term period. This assured lumpsum amount protects your loved one’s future in case of an unfortunate event.
Generally two types of plan exist.
- Pure Protection
- Protection & Savings
How Insurance Works ?
Now-a-days it’s a must, you should have Life insurance coverage. It protects your income and your family’s future financial situation. You should understand the Life Insurance, which you are buying, what benefits it gives according to your situation and lifestyle.
Health Insurance
Health Insurance covers your medical expenses that arise from illness. These expenses include your doctor fees, medicine costs, hospital charges etc.
Types of Health Insurance
1.Critical illness Insurance Plans
Some diseases give life threatening and long term treatment, called Critical Illness. This insurance covers the expenses of lifestyle and medicines, not all expenses in the hospital. It’s an income for the time of which you could not resume work due to illness.
2.Mediclaim Plans
These plans are hospitalization or Mediclaim plans as basic plans. It covers all the expenses at the time of hospitalization. Most of these plans cover whole family members’ hospitalization expenses.
Disability Insurance
This insurance provides the benefit of partial replacement of income lost due to long term disability. Here monthly income is provided as long as the disability is there.
Auto Insurance
There is a contract between you and the insurer, that insurer will pay you at the time of an accident or theft. On the basis of your paying premium, the insurer pays you as loss compensation.
Auto Insurance provides coverage for Medical. Liability and property.
Property-Damage to or theft of your vehicle.
Medical-The cost of treating medical injuries, funeral expenses, loss of wages etc.
Liability-Your legal expenses due to bodily injuries, property loss expenses
Hope this info will help you in buying insurance for yourself and for your family members in America. For any kind of insurance buying, just take advice from our license holding insurance team PLENTYSURE, USA (www.plentysure.com).. Please click the link given by our Insurance expert team from ETHOS Insurance, USA, for all kinds of purchasing insurance online. Just Click and buy: https://agents.ethoslife.com/invite/d902e. And for any kind of insurance planning, Retirement planning or comprehensive financial planning ( only for NRIs-Non Resident Indians) contact our CFP professional team. (www.moneygrainsexports.com)
What is your experience with Insurance till today ? Do comment.
Thank You,
Team PLENTYSURE
Jyoti Prakash Nayak, B.Sc MBA BA CFP
CERTIFIED FINANCIAL PLANNER & FINANCIAL WRITER
E: moneygrains.invest@gmail.com / WhatsApp : +91 8792238909
www.moneygrainsexports.com / www.plentysure.com
