Insurance planning is to protect yourself, your family and loved ones, your home, your assets, or your business against unexpected events. The idea behind insurance is to get a group to contribute financially to a fund specifically designed to help individuals recover in the case of an unexpected loss. In this way, insurance eases financial burdens that can occur when disaster strikes.
Insurance planning is a critical component of a comprehensive financial plan that includes evaluating risks and determining the proper insurance coverage to mitigate those risks. The principal goal of insurance planning is to identify and analyze risk factors in life and seek proper coverage to attain a peace of mind if disaster strikes. The chances of recovering partly or fully are assured by having insurance. Therefore, insurance is an economic device transferring risk from an individual to a company and reducing the uncertainty of risk via pooling.
Carrying insurance is crucial, but the most important aspect is carrying the appropriate type of insurance. Each person has different insurance needs tied to his/her unique situation, age, health, family structure, economic status, possessions, assets, and many other factors. There are several forms of insurance and there is no "one size fits all". (This is why we need the insurance planning!) Also, any major change in life requires an immediate review of insurance planning to make sure the protection remains adequate.s
The future of our country's health care system is uncertain, but the clear path to a healthy and full retirement requires considering what you might need in the years to come and approaching health care insurance with that uncertainty in mind. Use these three strategies to create a thorough plan:
In the Present Economic Scenario, Medical Care has become an expensive affair today. Instant catering to huge hospital bills may not be probable for everyone. Severe Health Problems like cancer, cardiac problems, severe joint problems, Kindney, etc. becoming common, it has become difficult for the common man to bear the expenses at ease.
As per a survey, less than 10% of the population of India has the ability to pay Rs. 5 lakh or less in case of a surgical emergency.
In the present scenario many take only 2 or 3 lakhs Sum Assured for the entire family, but as days pass and once any small claim is made, you might not be able to enhance your Sum Assured and then on your Financial problem due to medical issues starts.,
We guide you to choose your Proper Medical Insurance Plan and also review your Health Coverages Periodically.