Should You Purchase an Insurance Policy Apart from the One Your Employer Provides?

Buying the correct insurance policy is a tricky, especially when you are not familiar with the basics. It is crucial to know the basic types of insurance policies available in the market and the covers that they provide. Most of the companies provide an insurance policy with the job that they offer to the employees. However, is this insurance policy enough for you, or should you purchase an additional insurance policy for yourself? Here, we shall answer this question for you.

Is it Enough?
Most of the insurance policies that the company provide for example the worker’s compensation policy are designed to protect the company’s assets. These insurance policies are directed towards protecting the company from lawsuits while providing a meagre salary for the employee. So, most of the times this insurance policy is not enough for a person and he/she needs to invest in additional policies.

What Other Policies Do You Require?
There are several insurance policies that you can purchase to save money as well as provide the means for additional coverage against financial threats.

•    Personal Life Insurance
The personal life insurance policy acts as an additional cover apart from the insurance provided by your employer. This insurance helps you cover the financial needs of your family in case you are incapacitated or on your untimely demise.

•    Personal Auto Insurance
If you drive a vehicle provided by the company, there is a high chance that it is already protected by a commercial auto insurance. However, if you own a personal vehicle registered under your name, you must invest in a dedicated personal auto insurance.

•    Property Insurance
The property insurance protects your property against financial threats posed by theft, trespassing or physical damage of any kind.

At National IDA, we understand the needs of your personal insurance policies and help you choose the best ones from a long list of policies available in the market. You can rely on the financial intelligence of our team to make sound financial decisions.

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