There are many types of personal insurance available to us. This insurance covers all of our needs which means that we can be totally prepared financially against any financial crisis. It is very true that none of us like to think about accidents, illness, and aging. Sadly, they are an inevitable part of our lives.
Investing in a good insurance policy can really help you take the worry out of everyday living. Thinking ahead and ensuring that you have the right insurance to cover you can really help you protect your business, home, lifestyle and (most importantly) your partner or family from the impact of major and unexpected life events.
Life insurance policies support financial security against any kind of health problem. There are many options to choose from in the event of death, trauma or critical illness so you do not lose out. Life insurance remains one of the basic personal insurance known to man as it deals directly with the man.
Critical Illness or Trauma Insurance
This insurance policy provides a huge sum of money on the diagnosis of critical conditions including; serious cancer, heart disease, and stroke. Options are always available to cover a smaller or larger number of defined conditions or medical events in this type of personal insurance.
Disability Income Protection
Disability Insurance providers offer a monthly income to their customers if they are unable to work due to sickness or injury, and are available for employees and those who are self-employed. Options include payments towards rehabilitation, occupation retraining, and payments towards replacement labor.
Income Protection insurance ensures that all your financial obligations (including your mortgage) would be protected in the event that your ability to generate income is compromised by illness or disability. This kind of insurance keeps your income flow steady even when you are unable to work at that time due to physical circumstances
You will receive a monthly income in the event of being disabled as a result of any of the critical health events covered. This type of personal insurance is best for great businessmen and women who are sick in one way or the other and are liable to break down anytime.
Long Term/Permanent Disablement Insurance
This insurance policy pays a huge sum of money in the event of total and permanent disablement caused by accident or illness. One option is specific to individuals with businesses, and the other is specific to their families. This type of insurance is very good for dying people especially those who have cancer and do not wish to treat it. After death or during instant disability, your both your family and you would be catered for.