Lesson 3: Getting Insured
Dear Friend, I hope you have gone through my initial 2 posts and have made the provision for your Emergency corpus and started saving money through Recurring Deposit or Fixed Deposit. Next Step of saving should be getting insured. Please do not take Insurance lightly and think of getting insured in next 5-10 years. This is one of the biggest mistakes that you can do. Today I will tell you about two types of insurance that we need: Life Insurance and Health Insurance . 1) Life Insurance : What is life insurance ? Life insurance is the shield or protection against the financial loss which may happen in case of unfortunate demise of the earning member of the family. Any such calamity is always unforeseen, so you must be prepared to face it always. Life insurance provides a lump sum amount for family to take care of its financial needs like Loans and liabilities, children's tuition fees, daily expenses, etc. for some years. Who should be insured ? Th