Insurance planning is to plan for unexpected events affecting your family, your home, assets, and business. The whole idea behind planning to take insurance is to help individuals recover in the case of an unexpected loss. We here at Ashutosh Securities Pvt. Ltd works with you and identify your requirements and risks and thus suggest you with the cost-effective risk management programs.
We recommend the following insurance to you:
- Life
- Health
- Child Insurance Plan
- General Insurance
- Personal Accident Insurance
Purpose of Insurance Planning
The basic purpose of Insurance planning is to seek proper coverage and attain peace of mind in case disaster strikes and identifying the risk before it strikes. Insurance provides partial or full recovery according to your plan. Therefore, Insurance is an economic device that transfers risk from an individual to the company and reduces the risk via pooling.
How insurance planning is financial planning?
To be honest insurance planning is not financial planning, but it protects you financially in times of crisis. As health insurance prevents you from bankruptcy in times of serious health crunch. Life and death are uncertain and if you have people dependent on you life insurance would give them financial assistance in time your life is lost.
Life
Leaving the world with no life insurance can leave your loved ones with great financial burden. Even your funeral can cost them bucks. So, it’s better to insure them with life insurance and save them from your debts.
Health
Health crisis can make you bankrupt. So, it’s better to have health insurance as insurance of health can pay off your medical expenses incurred from illness or injury or pay for the care provided directly. Moreover, seeing escalating healthcare costs, medical insurance is an ideal choice.
Child Insurance Plan
The purpose of life insurance is to cover the risk of early death and the purpose of Health Insurance is to act as a cushion against hospitalization expenses.
General Insurance
Ensure your valuables other than health, life, and child. It covers the insured against damage, theft, and loss of valuables. Valuables covered under general insurance are house, vehicle, property, etc.