Every individual has something or the other to worry about in life. Some risks that they foresee is the reason for worrying. It depends on person to person. The reasons can be as trivial as hair fall. Studies have shown that most worries involve careers, concerns about finances and the future of the family.
A good number of these worriers claims that this worrying had affected their well-being, while others admit that these leads to arguments with their family members, even relationship splits and job losses.
How can you manage your worries?
The first step towards that will be to sit down and list the things that you are worried about. You will see most of them are within your control. But, there will also be some that you don’t have any control over. This is where insurance comes to your help. Plan ahead, ensure that you have the right coverage to protect your income and family and take the worry out of your life.
As your situations change the type of insurance policies and the level of coverage required will change. So, these should be periodically reviewed to ensure that it is appropriate.
Life Insurance – Life Insurance protects the family in the event of death of the earning member. This will ensure that the dependents need not be worried about the dreams that they had when the earning member was alive, about things like children’s education, paying off the home loan, etc. Apart from the protection, there are policies that offer cash value, which can be used for planning your retirement.
Disability Insurance – Disability Insurance provides financial protection in the event of Permanent Disability, resulting in loss of earnings. An earning member who has become permanently disabled to work can be a difficult situation to manage. If he / she had a Disability Insurance, on being permanently disabled to work, the company pays the insured amount.
Car Insurance - Protects you from any expenses to be paid due to damages to the car or a third party. The options under Car Insurance are third party liability only, limited cover and comprehensive cover. The Third Party liability is common to all the three types. Limited cover has the coverages restricted to fire, theft, etc. Comprehensive Car Insurance helps you to be sure of the liability, fire & theft coverage, etc.
Home Insurance - Protects you from any losses to your home building or contents. If you own the house and the contents, you can insure both in the same policy. If you have given your home on rent, you have the option to protect the home buildings and the contents that are owned by you. If you live in a rented house, then you can cover the contents that are owned by you.
Health Cover – Health Cover helps you in case of any hospitalisation, by meeting the hospitalisation expenses that you may incur as part of the treatment. You have the option to cover the entire family under this policy.
Dread Disease Cover - On diagnosis of any of the listed illnesses, a lump sum is paid to you.
Funeral Cover - Meets the funeral expenses of a family member. The policy pays the lump sum amount immediately so that you need not worry about the funeral expenses in case of death of an insured family member.
Most of the risks that you fear that causes worries to you can be insured. By having the right insurance in place, you will realize that you and your family have all the financial protection that you need. A few hours of work on the review of your insurance coverage’s can help you come out of your worries and that brings Peace of Mind.
You can learn more and compare the offers available in South Africa with Mister Compare for free.