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3 Types of Insurance You Likely Need

You know the phrase ‘expect the unexpected’, right? Well, when you begin to age you realise that there is no way possible that you can do that and living your life with that phrase implanted in your head just sets unrealistic expectations. The reality of it all is that there is no way possible to expect the unexpected, instead, just put in preventative measures such as insurance to save you if something does happen.

It really is all that you can do. By taking out insurance, you can make sure that yourself, your family, and your belongings are covered just in case something is to happen. This way, you can have complete peace of mind and though you can’t really expect the unexpected, you sure can make sure that you’re covered if something happens.

Insurance is great because it acts as a safeguard should something happen and most of the time it will allow you financial protection. There are many, many insurance options available which means that there are insurance types for absolutely anybody and everybody. While it can be difficult to pinpoint exactly which type/s are best for you, there are plenty of resources available to help you, for example, check out this resource.

Now, let’s take a look at three types of insurance you likely need.

Life insurance

Life insurance is among the most popular form of insurance as it makes sure that your family is safe if you are to pass away. There are many types available such as term life insurance, whole life insurance, no exam life insurance, and more. However, the one that is right for you can be better determined when speaking to a professional.

Life insurance makes sure that in the event of your death your beneficiary is given a benefit to settle your end of life insurance and make sure your family doesn’t have to dig into their own pockets to cover anything. When your family is dealing with emotional turmoil, the last thing you want to do is leave them with financial stress. Life insurance is the right way to make sure your family is safe.

Auto insurance

Everyone knows that you need a car to get around, without one, you are pretty buggered because you will have no mode of transport which can be hurtful in case of emergency. In 2018 alone, there were over 6.7 million car accidents in the US and in 2019 alone, 38 000 people died as the result of a car accident. Your state may not require you to take out auto insurance, however, it sure is in your best interest.

Auto insurance is great, because in the event of an accident, auto insurance will cover most expenses if someone is injured during the accident and will also protect you against any litigation.

Final expense insurance

Final expense insurance is quite similar to life insurance; however, it can only be used for your final expenses whereas life insurance can be used for other things as well. Final expense insurance will pay out a benefit to your beneficiary when you pass away so that all of your final expenses are paid for.

Written by Casim Khalid

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