What does typical life insurance cover?

For a typical term life policy, the death benefit fully covers the policyholder for any cause of death, including by disease, accident, injury and natural causes.

If you have an ongoing medical condition or enjoy dangerous hobbies, such as extreme sports like skydiving, you’ll want to make sure your policy specifically covers those situations, but generally, a life insurance policy will pay benefits for any form of death.

What does life insurance cost?

A common misconception is that life insurance is more expensive than a law degree. This is a major turnoff for recent graduates and young professionals who may not have the money saved up for large investments.

Luckily, as a young person, you can actually find term life insurance coverage at decent rates. Here are examples for $500,000 worth of coverage for a healthy 25- to 35-year-old male (women’s rates will typically be lower):

• 25-year-old: 25-year term = $26/month; 30-year term = $30/month
• 30-year-old: 25-year term = $28/month; 30-year term = $32/month
• 35-year-old: 25-year term = $34/month; 30-year term = $37/month

These policies provide a lot of coverage for less than most monthly Internet bills. If you don’t need as much coverage for your beneficiaries, the cost will be even lower. It’s also important to realize that your rate will be locked in whenever you buy the policy, even if you become sick in the middle of the term. This makes it even more beneficial to choose a policy while you’re young and healthy.

If I have employer coverage, am I good to go?

Your new job might come with some sweet benefits, but don’t let the glitz and glamour blind you to the fine print. Many employers offer group life insurance policies that you can join for free or for a small fee. It’s easy to stop and think “Well, that’s something I never have to think about again,” but beware!

Employer-based group policies usually don’t provide anywhere close to the coverage that an individual policy will, and they’re more likely to have clauses that stop or limit benefits from being paid. That’s not to say they’re a bad thing; they’re great as a supplemental policy for extra coverage, but it’s usually not wise to rely on group policies for your main form of life insurance.

How should freelancers handle life insurance?

As a freelancer, you’re less likely to buy life insurance, especially if you’re just starting out, because you’re avoiding any additional costs. But ignoring important cushions like health or life insurance is a great way to forget about them entirely until it’s too late. Term policies are a lot cheaper than you might think, and you’ll be able to find a company and policy that works for you. For more on life insurance as a freelancer, check out this post on Budget Blonde.

Ultimately, you need to decide for yourself whether life insurance is right for you. Taking the time to consider your options now will help protect those you love in the future.

Foods that Will Boost Your Mood

1. Raw chocolate

When you’re feeling down, believe it or not, eating raw chocolate has the ability to make you feel better, says Samantha Peris, a holistic nutritionist and owner of Nu Roots Nutrition in Canmore, Alta. Raw cacao is high in phenylethylamine (the love chemical) and anandamide (the bliss chemical) as well as theobromine, which give you a pick-me-up without any negative side effects—like what you would experience from coffee.

Peris recommends mixing raw cacao nibs with trail mix or in breakfasts, using the powder form for smoothies, breakfasts and desserts, or trying a raw chocolate bar.

New to raw chocolate? Your local health-food store will be able to help you out.

2. Fruits and vegetables

Ok, this is a no-brainer. We all know fruits and veggies are good for us. But who wants a piece of fruit when you hit that 3-o’clock wall? Well, with a little creativity and planning, you can make it work. Try baking kale into chips or yams into fries, dip carrot sticks into hummus or tahini and incorporate all your fruits for the day into a delicious shake.

Fruits and vegetables are high in phytochemicals, which improve the health of our brain cells. “If you reduce the inflammation in your body, you feel better,” says Kleiner. “Everything functions more clearly.”

When it comes to fruit, Kleiner says we should be eating fruits that are high in vitamin C every day, like citrus, berries or kiwis. She also recommends at least one deep orange or red vegetable from the carotinoid family per day, such as carrots and yams; one from the brassica family, like broccoli or cabbage; and one from the allium family, such as garlic, onions or leeks.

3. Fish

Research has shown that depressed people often lack DHA (an omega-3 fatty acid). Peris points to a 2002 study featured in the Archives of General Psychiatry where participants took just a gram of fish oil each day and noticed a 50 percent decrease in symptoms such as anxiety, sleep disorders, unexplained feelings of sadness, suicidal thoughts and decreased sex drive.

“DHA is a very potent anti-inflammatory fat,” adds Kleiner. “It shuts down inflammation in the brain and shuts down inflammation that is about to occur.”

You should eat about 600 to 1,000 milligrams of DHA and EPA per day. Incorporate oily fishes, like salmon, sardines, herring and mackerel, into your diet. You can also find lower doses of these two marine oils in fortified eggs and milk.

4. Milk

“Milk is one of my favourite feel-great foods,” says Kleiner. Milk contains proteins high in tryptophan, which is a building block in the bloodstream for serotonin in the brain. It’s a source of carbohydrates and vitamin D (low levels have been associated with depression), which is required for the production of serotonin. Milk is also a source of calcium, which has been shown to reduce anxiety.

5. Brazil nuts

Brazil nuts are high in selenium. In fact, they have 2,500 times more than any other nut. Selenium, a powerful antioxidant, has been proven to boost mood and mental performance. A study in the American Journal of Clinical Nutrition found that eating just one Brazil nut a day provides you with more selenium than your body needs.

Do away with these mood-busting foods

Overall, we should be eating primarily whole foods that come from the earth and haven’t been processed or refined, says Peris. Here’s what you should be avoiding:

• Alcohol in small amounts is a feel-good food, says Kleiner. But not surprisingly, too much can bring you down as it is a central nervous system depressant.
• Fried foods, fatty meats and fatty snack foods make you feel full and sluggish, explains Kleiner. In the short term, they put the body into a stress response that causes protein breakdown, which ultimately leads to lower levels of serotonin in the brain.
• Refined sugars and starches are also feel-bad foods.
• Caffeine is a stimulant, but in large doses it has a rebound effect.

How to Take Control of Your Health

The amount of time you revel in wonderful moments of joy, contentment, inspiration, laughter, love and learning will be directly proportional to your health, happiness, success, satisfaction, productivity and fulfillment! Maintain a healthy outlook through the power of a positive thought!

1 Cleanse the Soul. For the same reason you wouldn't go a week without a shower, you shouldn't keep a week's worth of mind clutter stored up in your grey matter. Do easy meditations daily in the shower to clear your mind, open yourself up to new opportunities and prepare for a simply fantastic day!

2

Brush Up. Do a daily affirmation twice a day in the morning and at night when you are brushing your teeth. Say it aloud through toothpaste suds or silently in your mind, "I am masterfully creating my ultimate life. Success and health (or sub in what you desire) comes naturally to me."

3

Be Active. Don't just stand around and let life happen to you. Every time you walk to the car, think about tiny actions you could take to move you closer to achieving what you truly desire. Keep a notebook to jot them down before you start up the engine. Watch each baby step start to exponentially propel your life forward.

4

Dress Up. Just as you might think ahead or lay out your wardrobe for an important meeting or date, prepare your mind for important events. Focus on how you want to feel and set your intentions and be very specific on what you'd like to accomplish.

5

Buckle Up For Safety. It's the law. Expect that you will experience life's mishaps, tragedy, injury and unfairness. You can safeguard against emotional distress by getting in touch with your true self. Choose how you want to feel, how you would like to handle difficult situations and think before you let fear, worry or panic creep in. It's your choice.

6

Martin Luther King Jr. said, "The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy."

7

Preventative Prescription. A vitamin a day keeps the self doubt away. Honor yourself and recognize all that you are. When something has gone well, applaud yourself and enjoy it! Don't dwell on what you could have done to improve it or what you would do differently next time. We all make mistakes. Learn and grow from them but remember to enjoy and relish in even your smallest achievements too!

8

Bless Your Meals. Just as you might say grace or spend an extra moment going around the Thanksgiving table to express what you are thankful for, find the good in your life and be thankful for it. Adopt an attitude of gratitude at dinner time.

9

Sleep Tight. Take your last waking moments before you drift off to sleep to focus on something that inspires you. Read inspiring literature, listen to soothing music or breathe in a delightful aroma. You will feel happier and wake up more content when you close your day with inspiring thoughts and feelings.

10 Health is Wealth, Concentrate on your body parts if you feel something is going wrong you should take care of that part without ignoring.

Why do I need life insurance?

Life insurance has several purposes. Its most important function is to replace the earnings that would cease at the death of the insured. For businesses, life insurance is a way to protect key employees and the business itself. A third purpose is to use life insurance to pay potential estate taxes.

If you die during your earning years, your family could suffer a severe economic loss as a result of losing your current and future income. Unfortunately, your family would still have to pay its regular bills, the mortgage, and outstanding debts, and perhaps even continue saving for college and retirement. Unless you're independently wealthy, achieving these goals may be virtually impossible for your family with the loss of your steady income. Life insurance offers a way for your family to continue living comfortably and without worry.

Employers often purchase life insurance policies on key employees to insure against the loss of services or income that might result after an employee's death. Here, the proceeds from the policy are paid to the company. Life insurance works for business partners too, where one business partner purchases a policy to insure against the financial loss that might result from the other partner's death or to buy out the partner's heirs.

Life insurance is also used to pay potential federal estate taxes. Since these taxes must be paid in cash, life insurance can be a good way to ensure the fulfillment of this obligation.

10 Inspirational Quotes That Will Change Your Life

“Just know, when you truly want success, you’ll never give up on it. No matter how bad the situation may get.” - Unknown

“Accept responsibility for your life. Know that it is you who will get you where you want to go, no one else.” – Les Brown

“I don’t regret the things I’ve done, I regret the things I didn’t do when I had the chance.” –Unknown

“Challenges are what make life interesting and overcoming them is what makes life meaningful.” - Joshua J. Marine

“Its hard to wait around for something you know might never happen; but its harder to give up when you know its everything you want.” – Unknown

“One of the most important keys to Success is having the discipline to do what you know you should do, even when you dont feel like doing it.” - Unknown

“Good things come to those who wait… greater things come to those who get off their ass and do anything to make it happen.” - Unknown

“Happiness cannot be traveled to, owned, earned, or worn. It is the spiritual experience of living every minute with love, grace & gratitude.” - Denis Waitley

“In order to succeed, your desire for success should be greater than your fear of failure.” – Bill Cosby

“Go where you are celebrated – not tolerated. If they can’t see the real value of you, it’s time for a new start.” – Unknown

12 Facts About Healthy Living life

1. More than one-third of adults and over 12.5 million children and teens in the US are obese. In the last 30 years, obesity in children and teens has nearly tripled.
2. One can of soda contains 10 teaspoons of sugar and the average American adult drinks 500 cans of soda every year, estimating about 52 pounds of sugar consumed in soft drinks alone.
3. An unhealthy diet leads to diseases like diabetes, hypertension, certain cancers, obesity, and micronutrient deficiencies.
4. In a survey of 9th through 12th graders in 2011, 13.1 percent of the teens admitted to skipping breakfast in the past 7 days, while 11.3 percent had drunk 3+ servings of soda per day in the same time frame.
5. Breakfast is the most important meal of the day because it feeds your body and mind with the necessary nutrients and energy to function throughout the day. Eating breakfast regularly will also help keep weight off because it gets your metabolism going.
6. In the same survey, more than 15 percent of the students were overweight, and more than 12 percent admitted to starving themselves for 24 hours or more in the last month in an attempt to lose weight.
7. Rest is a very important aspect of living a healthy lifestyle. Teenagers need 9 or more hours of sleep per night for their bodies to function properly. Less than a third of high school students in 2011 reported getting 8 or more hours of sleep per night.
8. Sleeping the right amount can prevent sickness, obesity, high blood pressure, and injury.
9. Physical activity like aerobic exercise (walking, running), muscle-strengthening (weight-lifting), bone-strengthening (jumping rope), and balance and stretching activities (yoga, pilates, dancing) are especially beneficial to a healthy body.
10. The more fresh foods you consume, the healthier you will be. Foods that do not expire contain unnatural preservatives, additives, and chemicals that deteriorate your body. Focus on fruits, vegetables, lean meats, whole grains, low-fat dairies, and above all, moderation in whatever you eat.
11. Snacking is important. By eating small meals or snacks throughout the day, you will keep your metabolism up and running to burn the calories you eat. Smart snacking means cutting out the vending machine chips and candy bars and adding in the granola, bagged fruits or veggies, protein bars, or nuts.
12. Depending upon the amount of physical activity you do, you can calculate how many calories per day are healthy for your weight and lifestyle. For teens, the average recommended caloric intake is 2,100 calories, but it is important to base your diet on your activity.

Corporate Health Insurance and Its advantages

One of the major problems that employees face when working for small organizations is that they are hardly provided decent corporate health insurance coverage.  But these days, health insurance policies have become really affordable and providing health insurance coverage as part of benefits is easier than ever.  These days, employers can buy corporate health insurance plans at a discount and the costs can be spread out among the members of the group or the employees in the organization.  Generally, corporate health insurance policies are far less expensive that individual or private health insurance plans.

The company wouldn’t disclose how much it spends on health benefits or how much the change would save, or what part-timers pay for their insurance, Hornbacher said. 

Most part-time workers cannot afford the health insurance premiums “offered’ by Target, Trader Joes and other retailers. Most will be better served with America’s Affordable Health Care Act – except in republican states who refused to expand medicaid.

The Affordable Care Act created new government-run health insurance exchanges to sell coverage to uninsured people, often with premiums discounted by federal subsidies. It disqualifies Americans for subsidies at the exchanges if they have an offer of “affordable” coverage from their employers, defined as an insurance premium less than 9.5 percent of their income.

Target plans a one-time $500 payment to part-timers losing coverage and a consulting firm will help those workers sign up for new Obamacare plans. It said on its website that many part-time workers may prefer coverage from the health law’s exchanges, and that by offering them insurance, “we could actually disqualify many of them from being eligible” for subsidies.

Coverage for Target employees who work fewer than 30 hours will end April 1, the company said. Open enrollment for 2014 under the Affordable Care Act closes a day earlier.

If you are a small business owner of if you are thinking whether or not a corporate health insurance plan will be suitable for you, here are some of the benefits that you can consider.

* If you have a corporate health care plan, you will be able to decrease risks as well as the company’s liability.
* Having a corporate health care plan can help boost morale of the employees and this will encourage them to perform.  Basically, this will show that the employer is concerned about the health and well being of the employees.
* When the employees are provided with a good working environment and great benefits, they will be happy and the company will see its productivity increase.
* As an employer, you will be able to rest assured in the knowledge that the employees have access to good medical care in case anything happens to them.
* By having a corporate health care plan, the company will be able to attract more skilled and qualified employees.
* Small businesses suffer a lot when something happens to one of the members of the group.  The whole business suffers when an employee takes few days off work due to medical conditions.  To reduce the number of sick days among the employees and to ensure that they have access to medical care when they need it, it is a good idea to have a heath insurance plan.
* This kind of insurance plan is cheaper than an individual plan.  Also, corporate insurance is less risky for insurance companies than individual or private insurance because the risk is spread out among a number of people.
* In a number of cases, the employer will be able to pick up all or a portion of the corporate insurance premium. This will make corporate insurance even more affordable.

Most small business owners know that to be successful, it is important for them to offer incentives to their employees.  Incentives can be anything, but one of the most important things that every person looking to join an organization looks for is corporate health insurance plan.  A corporate health insurance can be purchased by any organization that has a minimum of two members and a maximum of fifty members.  Generally, there are two ways a business can offer health insurance to the employees.

Depending on the budget, the organization which provides health insurance to the members can help contribute towards the cost of the coverage.  Secondly, if the employees want coverage for their families as well, the employer may pay the premium for the employee and the employee can take care of the premium for the family.

Motor Insurance is Important

A house insurance policy will never covers physical damage on a motorcycle; however, advertisements are available on some policies . Motorcycle insurance has your typical coverage plus it has some specialized coverage that you may not be familiar with. 

Whether you just bought a motorbike or you have a motorcycle from a long time, you might have a certain questions about insuring your motorcycle. 
All motorcycles on the road are required by law to have motorcycle insurance. Motorcycle insurance protects a motorcycle and its owner in the event of a loss. The term motorcycle policy encompasses motorcycles,motorbikes etc. 

A comprehensive Two Wheeler Insurance policy for your two-wheeler that keeps it secure against damage caused by natural and man-made calamities, including acts of terrorism. Avail of Own Damage, Personal Accident and Liability cover all in one policy. You need your two wheeler to be insured and the best way to do this is to purchase Motor Insurance.

Since motorcycle insurance is mandatory, you had better take the time to understand what you are buying. Get your motorcycle insurance in place before taking the bike for a spin. If an accident ever does occur, you will know what to expect of your motorcycle insurance policy. The one feeling that is better than riding on the open road is riding on the open road with the peace of mind of proper insurance.

The motorcycle insurance would change from state to state or country to country as well as from insurance company to insurance company. Although you might not have much of a choice in terms of the cost, but there is still wisdom to shopping around for the best one and the cheapest one that you can find. Do your homework and find insurers with good claims track records in order to be sure that you are getting the coverage that you need. There are both big,large and small insurance companies that offer you motorcycle insurance coverages.

And finally Getting best quotes from several of these companies would be a good way to go about your search for the best motorcycle insurance coverage. And do Make a side-by-side examination of these quotes and companies to assure yourself that you are really getting a fantastic deal without compromising certain coverage item for insurance.

- See more at: http://insuresecrets.com/motorcycle-insurance/#sthash.mOgTDBHl.dpuf

Affordable health insurance and its Advantages

A health insurance policy is a contract between an insurer and an individual or a group, in which the insurer agrees to provide specified health insurance at an agreed-upon price called the premium.

Why is a health insurance policy needed?

Health insurance has become a necessity in today's world considering the rise in the cost of medical care and treatment. The escalating cost of medical treatment today is beyond the reach of the common man. Even if an individual is healthy and has never had any major problem, it is not possible to predict what may happen in the future. In such times, health insurance provides the much needed financial relief.

The problem is what to select. The Frustration of health insurance companies takes your breath back. It's so difficult to find out what policy to accept, so what's to be done? First you should know that a good health policy is worth its weight in gold. Affordable health insurance is something that should not be rejected – it is a vital need. Everyone needs today some form of health coverage. Affordable health insurance is up to the individual and his or her calculations concerning premiums. If you surf the Web you'll come across numerous so called friendly societies offering expert advice in how to go about registering for health insurance and its benefits.

Affordable health insurance and friendly societies

Many health insurance companies proffering health insurance do not call themselves insurance companies. Perhaps the name seems rather too harsh nowadays and is losing some of its effect and attraction. These companies now call themselves friendly societies. Affordable health insurance can definitely be acquired from these societies and often at very good terms. You can often get excellent discounts and adequate health coverage. Of course if you're looking for optimal health coverage then don't expect Affordable health insurance. For optimal service one has to pay accordingly and this can be very expensive. Affordable health insurance can only be acquired through specific comprises on the quality of the services.

Affordable health insurance and its applicants

Most health insurance companies, or whatever other names they go by – such as friendly societies will boast their wares. Affordable health insurance is one of the central attractions and they will do their best to impress upon you that anyone can afford it. In actual fact, these companies will emphasize their expertise and claim to be specialists in private medical insurance. Affordable health insurance is their goal, their objective, they are out to sell this to everybody as fast as possible. This makes it possible to bargain with them and obtain the best possible terms you can get for a good health coverage.

Importance of Human Life

Human life is important because it is sacred as it comes from the act of creation. Life occupies a unique place in creation since it was created in the image of God. The safeguarding of human life is the definitive value, a pillar of ethics and the basis of all morality. This has been held true in most cultures and societies all through history.

"Your human life path is a journey of great 

importance and significance that is mostly hidden 

from you."

         One returns into the human form, after having wandered through other life forms. And it is also through the human form, that one is released from this cycle of wandering.   If one knows how to fulfill his human birth, then he can achieve liberation but if he does not, then that life becomes a vehicle for endless wandering.  He dissipates his karma's in all other life forms, but it is only in the human form that he binds as well as dissipates karma's. 

         This human body has been acquired with great difficulty, so use it to accomplish your work. The soul has spent endless births to acquire this human body.  If only, this body spends one birth for the Soul, your work will be done in this very birth.

          If as a human one meets a Gnani Purush, then he can acquire liberation.  Even the celestial beings have an intense desire to acquire a human form.  Through establishing a connection with a Gnani Purush, the body that had been a foe for endless previous births now becomes an absolute friend. It is through this body that you have met a Gnani Purush, so get your work done. 

Glossary: Gnani Purush -  One who has realized the Self and is able to do the same for others; The Enlightened One; Perfectly enlightened One, who is free from ego and all worldly attachments and enlightens others.

Benefits of Insurances

               Most people in Pakistan are averse to insuring their property due to the premium involved.
Despite their aversion there are 59 insurance companies operating only in Pakistan, of which 51 provide general insurance- insuring other then life- while the other sight deal specifically with life insurance.
               In developed countries all properties and assets are insured for their actual value against any possible damages or loss due to unforeseen circumstances. In Pakistan, most property transactions are undervalued to save on tax, which when it comes to buying insurance means that the property cannot be insured for its actual market value.
                For property insurance cover to be beneficial it is importance that the following points are kept in mind.

1) It is vital that the insurance policy cover the actual value of property rather then an understated value. For this to happen it is essential that all property documents contain the actual value of the property.
 2) Understand clearly what the sum insured (the amount of money insured) means. Usually this sum covers the property's value at the time of insuring or the cost of replacing it if it is destroyed.
 3) Make sure that the premium, which is based on the sum insured and the risk of damage occurring to the property, is paid on time (monthly/quarterly/yearly) so that the policy does not lapse. Most insurance companies will not entertain any claim if premium payments are not up to date.

                 The events of December 28, 2009 in Karachi are a stark reminder of what can happen and how easy it is to lose one's source of income as the traders and shopkeepers of Bolton Market, Paper Market, Kutchi Gali( Medicine Market) and Light House sadly did. According to the claims made by various traders associations, about 8,000 to 10,000 shop and warehouses were set ablaze and 30,000 to 32,000 people who lost their source of income. Goods worth billions of rupees ranging from plastic products to grocery products, toys, arms and ammunition, electric items, cloth and medicines were destroyed.
                 Unfortunately none of the shopkeepers in these markets were insured. This gives food for thought that majority of the people here in Pakistan, who shy away from the idea of insurance cover.

Insuring what you own your house and contents

Understanding what to Insure

Your home, household contents, and other belongings such as boats are expensive to buy. Many people can’t afford to repair or replace these things if they are damaged or destroyed.

By paying a fee called a ‘premium’ to an insurance company you get a promise in return that it will pay the costs related to incidents covered by the policy.

That can include damage to your car, house or boat, or the costs of repairing someone else’s car or other property that you have damaged accidentally.
Remember, you have a duty to tell the truth when you apply for insurance. If you leave important information out when applying for insurance your future claims may not be paid.

House insurance

Insuring your home protects it against the risk of fire or other damage. Most house insurance provides cover only up to the ‘sum insured’ – a capped amount that is the limit of what you can claim. You need to decide what your sum insured is – how much it would take to rebuild your home in the event of a disaster.
House insurance is usually required by your lender when you have a mortgage. Lenders Mortgage Insurance covers the bank if you can’t make the payments on your loan.

Contents insurance 

Contents insurance covers damage and loss of your belongings.It also provides some ‘third party’ cover if you damage someone else’s belongings in the house you are living in. So it’s a good idea if you are flatting or renting.

What is Insurance?

An arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium.

Most Of the People aren't aware of this Basic Term Insurance, in detail given Below:

A promise of compensation for specific potential future losses in exchange for a periodic payment. Insurance is designed to protect the financial well-being of an individual, company or other entity in the case of unexpected loss. Some forms of insurance are required by law, while others are optional. Agreeing to the terms of an insurance policy creates a contract between the insured and the insurer. In exchange for payments from the insured (called premiums), the insurer agrees to pay the policy holder a sum of money upon the occurrence of a specific event. In most cases, the policy holder pays part of the loss (called the deductible), and the insurer pays the rest. Examples include car insurance, health insurance,disability insurance, life insurance, and business insurance.

Life has risks. From your house burning down, to your car being stolen, to illness preventing you from earning a living.  Whatever the risk, chances are there is an insurance policy available to reduce the financial loss to you should these events happen.

Sometimes in life things go wrong. If your house burns down, an earthquake strikes, your car is involved in a crash or you fall ill, you may face large costs which you can’t afford. The risk of some of these things happening may be small. But if they did happen, the impact on your finances could be huge. You can either face these risks yourself or take out insurance to Cover them.

How insurance works

Buying an insurance policy transfers the risk from you to an insurance company.

Insurance may seem complex, but it is really quite simple. You pay an amount of money called a premium to an insurance company. If an unexpected event occurs and it is covered by the wording of your policy, your insurer pays you a sum of money or repairs or replaces the items that are lost or damaged.

What insurance do you need?

You probably need some kind of insurance, but not everyone needs all the different kinds.
How much insurance you need will depend on your own circumstances and attitudes. It’s easy to buy too much insurance. It’s just as easy to not buy enough.
When you consider getting insurance you need to weigh up the risks of not having the insurance against the costs of buying it. Ask yourself these four questions:

1. What is the risk you would be insuring against? This could be death, a fire in your home, or your car getting stolen. Or getting sick and not being able to work.
2. What are the chances of it occurring? There’s probably a small risk of a fire in your home, but it will cost a lot if it happens. The chances of your car being damaged or stolen is much higher, but the costs may not be as great as losing your home.
3. What would happen? If you died, would your family be able to pay for the funeral and legal expenses, and how would they manage without the income you earned. If there was a fire in your home, would be able to replace the house (if you own it) and all your possessions, or would you lose them completely?
4. How much would it cost? Would you have enough money saved to cover the cost and would you want to use your savings for this?  (For example, would you want to dip into your retirement savings?)

If you can’t afford for something to happen, you should seriously consider taking out insurance. Insurance is important when you’d be badly affected by a loss - even one that is not very likely to happen - and it’s less important to have insurance for losses you could cope with.