Insurance: Protecting Yourself from Unforeseen Disasters

2016-02-16 | 14:19:03

Let’s face it, no matter how careful we are or how thoughtful our decisions may be, there are things in life we can’t avoid or plan for. What makes these situations worse is if it sets you back financially. Luckily, this is where insurance comes into play.

 

Though insurance may seem like a burden to many people, if something unforeseen occurs you will be extremely glad you paid into that insurance policy all those years. Here are 4 types of insurance that everyone should purchase to protect themselves.

 

1. LIFE INSURANCE

Death is inevitable, and though that may seem like a morbid thought, it is a fact of life. If you are a person who has dependants, namely a significant other and/or family, then life insurance is absolutely vital to ensure the protection of those you love in the occurrence you pass away. Life insurance is a policy that does require significant time and effort because you want to ensure that your beneficiaries are properly listed on your policy and that all incidents you may be prone to are covered.

 

2. CRITICAL ILLNESS INSURANCE

This type of insurance covers you beyond your regular health plan in the event that you become critically ill and are unable to work. This coverage will help out in such a situation where your medical bills are unaffordable.

 

3. DISABILITY INSURANCE

The number one reason that people default on their mortgage payments is due to disability. Many employers include this coverage while you are at work, but you need to cover yourself for any incidents that may occur away from the workplace. The prime coverage you want in this regard is third party coverage, meaning that you and your beneficiaries are protected no matter where you may work.

 

4. HOME INSURANCE

Buying a home is one of the biggest investments of your life, and you want to make sure you protect your largest asset. Take the time to speak to your qualified insurance broker to ensure that all specifics of your property are accurate and that adequate coverage is put in place. This will include evaluating the physical property itself and detailing the possessions within the home and their value. Also, make sure to ask your insurance broker any questions you may have about the policy wordings!

 

Everyone knows someone who has been through a tragedy involving death, illness, disability, or their home. In all events, insurance was likely something that was their saving grace or something they wish they had looked into previously. Take some time to do your research and ensure that you are covered! If you have any questions, feel free to give us a call at AC Lending Group. We are always available to answer any questions you may have and refer you to an insurance broker if required.