Everyone wishes for a calmer life after a point of time, and retirement can give you just that if you have planned things well in advance. We all work relentlessly to ensure that our family has everything it needs. At the end of it all, we want to settle for nothing but the best for ourselves as well. Family members and loved ones are bound to take care of you in your retirement years. Planning can give you the leverage of being independent, even when you are not earning.

An excellent way of ensuring this is to get insurance for securing your future.

Disability insurance
If you are the only earning member in the family and some disability strikes, the prime source of income is gone, and the family is left stranded in such a situation. The best way out in this case is to get disability insurance, especially if you are susceptible to injury at work. Some companies offer employee insurance if they fear that someone runs a chance of getting hurt while working. Even if you have savings for such times, they are susceptible to getting exhausted sometime, and disability insurance will help.

Life insurance
Life insurance is for those who want to safeguard their family after they are gone. There are two types of life insurance policies in the market: term life insurance and whole life insurance. The former coverage is for those who have some ailment and know that they will be around only for a limited period. The premiums are low, and the cover in this type of insurance is higher than that in the other type, which is why it is more preferred over the other type. Whole life insurance is a safe way to invest money for the family. This life insurance provides a wholesome amount upon the death of the policyholder and offers a higher interest rate. Those who have an excellent standard of finances and want their family members to continue even when they are not around generally opt for this type of insurance.

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Long-term care insurance
Owing to the lifestyle we lead today, there is a high risk of getting sick and needing comprehensive medical care for extended periods. In such conditions, you may have to spend a considerable proportion of your savings at the hospital if you do not have long-term care insurance. This insurance policy safeguards your expenses of nursing and care for whatever span of time you are in the hospital. There is also the option of buying mutual protection for your and your spouse, and you can share the amount or dip into the spouse’s assigned amount if required.

Burial insurance
If you hold high standards for yourself and want to ensure that even after you are gone, your funeral ceremony leaves your loved one with something to remember by, you can purchase burial insurance. It covers everything related to your funeral, from the casket to the procession and other such services in between. The cost of a comprehensive funeral can range from $5,000 to $25,000. The name of the family person mentioned in the claim will get the money to organize the funeral in the desired manner. The insurance claim can be given in two possible ways: graded payment or upfront payment.

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