When an emergency happens it just happens without any warning. And, the first thing we get worried about is the amount we have to invest. It’s a very weird situation that happens without any warning. Insurances play a vital role in securing our life, they protect us like an umbrella does during the rainy season. Usually, when it comes to insurances people prefer to have life insurance. Considering, if they have life insurance then they have secured life. But the sky is the limit when it comes to emergencies. So this is important to understand why burglary, fire and health cover are as important as life insurance.
There are various types of insurances available, like life insurance, fire insurance, burglary insurance, health insurance, vehicle insurance etc. But people usually stuck with life insurance. It could be because of two reasons, either they don’t know the importance of burglary, fire and health insurance or else they are dragging it for no reason. Let’s find out the importance all burglary, health and fire insurances.
Burglary Insurance is a secure cover for a situation forcefully happened robbery event. It is a typical term in insurance parlance. It is not a theft in simple terms. It’s a situation when someone does a forceful entry by breaking house or breaking lock or even by using any arm into the premises. This is even applicable in case of violent exit from the premises.
Any individual, association, firm, corporate society or company who are engaged in commercial activity or individuals whose property is exposed to the risk of burglary, robbery, housebreaking, loot and hold-up necessarily requires this burglary insurance policy.
Another type of general insurance is fire insurance. This is again equally important as life insurance, to recover the loss if ever your home catches fire due to short circuit or any other reason. Fire insurance is a contract between a policyholder and the insurance company in which the insurer agrees to compensate the insured in case of loss or damage happens to a particular property due to fire. Usually, people won’t understand its importance and end up with the weirdest situation. The premium is also pre-decided and the insurer compensates for the loss up to the insured amount only. And this is another reason why burglary, fire and health cover are as important as life insurance.
Health Insurance is not that ignored part but still, people take a risk here as well. Many of us don’t understand the importance of health insurances. In today’s fast evolving phase where growing pollution and stressed life is leading to many health concern for all Indians. Be it cancer, heart disease, respiratory disease, all these diseases have become the leading killer in the country.
Also, the medication cost of all these diseases is too much to bear for a salaried person or middle-class families. Considering the rise in health care cost in the form of treatment cost, hospitalization expenses, doctor fee, expensive medicines etc make it difficult to deal in few bucks. The entire cost of any of such diseases is enough to burn a deep hole in an average India’s pocket.
To solve the issue of double-digit inflation in the health sector, health insurance policies are introduced. It’s an excellent way of protecting one’s saving from the axe of medical bills. Also, buying a right health cover is most important as you would want full coverage in the times of needs. And this why burglary, fire and health cover are as important as life insurance.
Sometimes, your policies may not cover all your liabilities but what all are these:-
|If death occurs due to any of these reasons:-
· Alcohol or drug abuse
· Suicide or self-inflicted injuries
|If hospitalized due to:-
· Self-inflicted injuries
· Hospitalization due to war or related issue
· Non-allopathic therapies
· Diagnostic charges if the reports do not confirm the existence of the covered disease
· Existing medical condition before buying the policy during the waiting period
· Medical condition due to a hallucinogenic substance or intoxicants substances.
|Loss or damage caused to property due to following reasons:
· Mechanical or electrical breakdown
· Nuclear peril
· War or terrorism
· Pollution or contamination
|Loss or damage due to :
· Money loss kept in the property
· Damage caused due to wear or tear
· Unoccupied property loss
· Willful destructing of the property
· Loss due to war
Considering the high incidences of own damages, general insurances have been introduced. One must have these protective covers to secure themselves from all these hazardous situations. Following are the sufficient reason for one to understand why burglary, fire and health cover are as important as life insurance.