One of the finest instruments of savings is Insurance.
There are several types of insurance.
1. Life insurance
2. Medical insurance
3. Wealth insurance
Life insurance means your life is insured for a certain sum, in case, touchwood, if any things happens to the insured, the company pays the total sum to the nominee. This requires quarterly, half yearly or monthly premium to be paid. Depending on your age you can take insurance for 10 lacs, or 25 lacs.
Medical insurance caters to your unexpected ailments. You can have medical insurance for yourself, your wife, your kids etc. Though Government servants are covered by Star Insurance, this is an another type of insurance which requires premium and which take care of us in cases of sudden illness.
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