What is General Insurance and why do you need it?
Life is full of surprises, which makes it exciting. However, unexpected events can also set you away from your goals.
This is where General Insurance helps you in protecting yourself, and the things you value. These things can be anything: ranging from your homes or your cars. These insurances also look at protecting your valuables from financial impact of risks, big or small. Some of these insurances also protect you from fire, flood, storm and earthquake, as well as theft, car accidents, and even travel mishaps. And there are wide range of policies from which you can choose, based on the risk and the features you need.
To understand this clearly, let’s take this situation. Your daughter dreams of becoming a pilot and you have been saving majority of your disposable income to fund her dream. Unfortunately, you are detected with a severe health issue. You need an amount of USD 3,000 for your treatment immediately. Yet, paying for your daughter’s course fees was easy for you. That’s because you didn’t face a dilemma of choosing one over the other. The money you invested in your health insurance took care of your treatment costs. Hence your savings remained unaffected by this unexpected illness.
Now let’s say you are going to Spain for your first international holiday and you have a stop- over at Istanbul. Your first flight gets delayed, which results in you missing your second flight. Now you are stranded in Istanbul. It costs USD 800 to fly to Spain. USD 300 to return back home. Plus, the loss from hotel booking cancellations. A travel insurance approximately worth USD 25 could have ensured that any such additional costs were covered.
You buy a brand new luxury car and you have decided to take your new baby for a spin. Everything peachy until another car tries to overtake you and ends up leaving a huge dent on your car, and also dislocates your left mirror. You need repairs worth USD 500. Yet, your smile hasn’t left your face. This dent on your car hasn’t left a dent on your pocket. All of this because your motor insurance covers for any damage to your car caused by an accident, which would be settled by the insurer directly at the garage.
There are various types of insurances, which you can opt for based on your needs. Seguro’s relationship manager can guide you to identify the right one for you. Contact us to know how.
Life insurance benefits can help replace your income if you pass away. This means your beneficiaries could use the money to help cover essential expenses. Life insurance enjoys favorable tax treatment, unlike any other financial instrument. It will be beneficial to take advice for health care plan like mutual of Omaha medicare https://www.thehealthexchangeagency.com/mutual-of-omaha-medicare-supplement/