Why Insurance is a Must-have for Achieving Financial Independence
Why Insurance is a Must-have for Achieving Financial Independence
In order to be free and independent, you must be prepared for any and all curveballs life can possibly throw at you. With this in mind, here are six things you can learn

Our nation is on the brink of completing 75 glorious years of independence, and the one question that is as relevant today as it was all those years ago when our tryst with destiny began with the unfurling of the tricolour at midnight, is: What is true freedom?

Freedom means liberty from any form of dependence and oppression: this encompasses the freedom of thought, expression, work, worship, and the freedom to live a life filled with dignity.

But are you truly free in the true sense in today’s contemporary scenario? What does freedom imply?

In order to be free and independent, you must be prepared for any and all curveballs life can possibly throw at you. Since there is no dearth of potential exigencies, your level of preparedness must be comprehensive and responsive to change. When you are equipped to deal with a myriad of circumstances, adverse and favourable alike, can you really be independent.

How can you Work towards Freedom?

The path to true freedom and independence is simple and easy to pursue. You cannot predict what is going to happen in the future, but you can certainly make plans for contingencies. One of the most effective approaches to the pursuit of independence from life’s uncertainties is buying a suitable insurance plan, especially health insurance.

By investing in the right insurance, not only do you purchase an insurance product, but you also arm yourself with a protective shield that is of immense significance in the wake of adverse events, ranging from natural catastrophes, accidents to sicknesses and more.

In the unfortunate event of you losing your ability to work and earn owing to an accident-induced injury or disability and/ or recuperation post hospitalisation, a suitable health insurance policy can come to your aid. Similarly damage to home, vehicles, business crop, can be covered through the right insurance policies.

Not only do the words independence and insurance begin with the same letters, but they are also inherently linked in the tapestry of your life vis-a-vis stability and security. The future shall always be uncertain and largely unpredictable, it is, therefore, advisable to future-proof your financial security with the selection of an adequate insurance plan.

With this in mind, here are six things you can learn

Freedom From Stress of Hospitalization Expenses

In case of medical emergencies, we always scout for the best healthcare facilities for ourselves and our families. A comprehensive and adequate health cover will make quality healthcare accessible and during a health emergency you can focus on your or your loved ones’ health and will not have to worry about finances.

Freedom From Worrying About Costs Associated With For Any Critical Illnesses

Nowadays, lifestyle related diseases are becoming commonplace and can have a devastating effect on self and family in the unfortunate event of being stricken down by any such condition. Considering such vulnerabilities, look at additional security by purchasing a Critical Illness policy on top of regular health insurance. These policies are affordable and will guarantee a lumpsum payment in the event of the insured person contracting any of the named critical illnesses covered.

Freedom From Your and Your Family’s Old-age Worries

Providing a healthy and peaceful life to our parents is the aspiration of every child. You must not depend on a employer cover and not wait for a calamity or medical emergency to cover your parents adequately and in time.

Freedom From Losses Due to Unforeseen Events/Calamities

While the pandemic and the increasing frequency of natural calamities are a constant reminder of the significant of having an insurance cover for not just your health but home and businesses as well. Therefore, make it a point to consider insuring your home, its contents as well as your business assets.

Freedom From Worrying About Vehicle Liabilities

While third party motor insurance is mandatory in India, it will not cover you for loss or damage to your motor vehicle. Therefore, invest in a comprehensive motor insurance policy as well as important add-ons which will provide complete peace of mind.

Freedom from Losses Due to Accidents

Personal Accident Insurance helps in the event of injuries, disability or death caused by violent, accidental, external and visible events. Therefore, buying this will provide you with freedom from stress of going about your daily life.

The truest form of freedom is being the master of the ship of your life and the course it takes.

Some things are, however, beyond your control and planning, which is where insurance can add balance to your financial plan.

This Independence Day, choose independence from the shackles of uncertainties and choose control over the chaos that defines life. Happy Independence Day!

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