primbondh/ March 18, 2021/ business insurance

Having a family comes with plenty of responsibilities. Paying school fees, utility bills, buying foodstuffs and a whole lot of miscellaneous bills arising out of either poor health or restoring a damaged property in the house. These responsibilities weigh us down and most often clog the wheel of our family’s progress because of the decline in finance. As a result, there are various kinds of insurance policies that arise to help out in case of catastrophe. If you have a family and are thinking of insurance, there are a lot of insurance policies you can choose from and reading through insurance’s opinions can show you the right way to look. Nevertheless, this article shall discuss some five insurances you can choose if you have a family.

Life insurance

The common denominator all people possess is that we shall all one-day die and leave our loved ones – husbands, wives, parents, children, to bear the brunt of catering for our funerals and in taking care of themselves. Life insurance is one of the most critical insurance every family must have not just to cover costs for the funeral but to replace the income for a significant period of time. Funeral costs are a one-time event that while not insignificant, won’t occur again. The more critical need is to replace the income you would have brought to your family over the coming years. You can learn more about these by visiting

Health insurance

It is well known that a week in an intensive care unit can run into millions of dollars and leave our once bubbling bank account in a state of liquidation. Health insurance can be broken into small forms of dental or vision. Insuring our health and that of our family can prevent our whole life savings from being drained in the pipes of medical expenses. The insurance company covers the expense depending on the health plan we choose.

Long term care insurance

Long-term care insurance helps cover the expenses of daily living, including eating, bathing, dressing, and using the bathroom when you are sick, injured or aged for extended periods of time. Though, Long term care policies do not cover 100% costs, not even the most comprehensive.

Disability insurance

Though life insurance is primordial because of the effect of the emotional effect and taking away income, disability insurance protects one from the loss of income due to permanent disability. Some even consider disability insurance more than life insurance because not only does disability take away future income from you, it also costs money because you’re still a part of the family and are a mouth to feed.

Car insurance

Owing to the importance of insuring cars in case of accidents, some states in the U.S now require one to have at minimum a form of liability insurance coverage that protects them from the liability of running into another vehicle and causing damage. Of course, unless your car is worthless, you will also want comprehensive and collision insurance as well to protect you if someone else runs into you and damages or destroys your vehicle.

A family might choose to partake in all the above types of insurances if the means are available. If not, they can carry out an opportunity cost to determine which to be the foregone alternative.

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