Newly wed? Insurance plans you must know about

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Newly wed? Insurance plans you must know about

Marriage brings in loads of joy, heaps of laughter and unbound happiness in one’s life. But with that, comes a great responsibility of ensuring this happiness. From being a bachelor, you take a leap to get married, eventually concluding towards starting a family. This doubles your responsibility of insuring the lives, health, financial security and more so, the duty of sustaining blissful moments in your and your loved ones’ lives.

Insurance industry is brimming with various insurances for life, travel, health, critical illness, etc. But before you go on to decide which insurance plan is the best for you – take a step back and first clear your basics!

Assessment of your needs which need to actually be insured should be your Step 1. Well, no one wants to be paying unnecessary premiums every month for something which does not deserve to be insured at the moment.

For this reason, we have compiled a list of insurance needs for newly weds which they can consider:

  1. A cover for insuring the Life
    This is the perfect time to start off with insuring yourself and your partner for a comprehensive life cover. Financial security from the very onset of marriage is a necesity in the current, highly fluctuating scenarios.
  2. A cover for insuring health
    This is the stage in life where you need to set aside regular savings for your family’s’ future needs. This may be for immediate needs such as car or vacation or for buying your dream house.
  3. Secure your health and critical illness
    Health contingencies including critical illnesses can occur any time. It is therefore suggested that we stay prepared for them from an early age. For newlyweds, this becomes an essential part of the insurance plan.
  4. Secure your future travels
    Travelling seems to be an all-year-round activity for the newlyweds. With this, comes a greater need for securing your travel inside and outside Canada.

Now that you have done the essential needs assessment, you can go further to identify the appropriate insurance plans offered by top insurance companies. If you are feeling boggled with the endless options on your list, follow the list above to find the one for you and your partner. Highly suggested: Look for an insurance provider offering tailor-made insurance plans that are comprehensive and customized.

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