There seems to be an ever-increasing number of different types of insurance available. Personally, I only have car insurance, home insurance and life insurance. However, there are lots of others out there too including pet, holiday, travel, funeral and excess to name just a few. How many do you pay out and do you think it is worth it?
My earnings can accommodate a single type of insurance, a pension plan with life coverage, family secure and mutual fund investment options. It's like a 3-in-1 plan that allows me to get back the amount I invested over the last 10 years. If my family expands, so does my coverage. However, my premium remains the same. Pretty neat. My mom and dad took care of the other insurance plans for the sake of the whole family. We have fire insurance for the house and auto insurance for 2 vehicles. I have travel insurance attached to my Miles Credit Card but I can only use it after booking a plane ticket.
It is important to have life insurance, home or rental insurance and auto insurance along with health insurance. Pet insurance can be a good thing if you have pets and don't want to have unexpected medical bills for your pet, having a pet is like having children, there will be expenses. There are policies you can get that will cover more risk at a lower prices, it requires some research.
