Insurance is very important for all whether you are a South African citizen or not.
Insurance is more than just car insurance or insurance on our homes, it also includes:
- Health Insurance
- Life Insurance
- Medical Insurance
- Funeral Cover Insurance
- Hospital Cover Insurance
- Legal Cover Insurance
The insurance types mentioned above are only a few of the categories and available insurance policies available out there.
Of course not every single person should, or for that matter has to be covered for all types of insurance, but having insurance according to your own needs is a matter of importance.
But then how do you choose which insurance types are the most important to have?
Break it down:
- Car Insurance - If you have a car, you need insurance.
- Life Insurance - this is a matter of personal interest and depends solely on personal preference.
- Medical Insurance - ask yourself this question:
- How many times a year do I visit the doctor?
- Do I plan on having a family in the near future?
Having medical insurance is definitely important, but if you visit the doctor once a year and don't plan on having a family any time in the near future then perhaps a hospital plan will suit your individual needs better.
- Funeral Cover Insurance - yes this is indeed very important. Nobody wants to leave their loved ones behind with expensive funeral bills when they are no longer there.
- Legal Cover Insurance - Once again legal insurance is a personal preference and perhaps more of a concern for a business owner than an individual.