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Types of Insurance You Shouldn't Live Without

One of the best things to ensure you're secured is getting insurance. However, when people hear this, they're either unaware of what they are, are intimidated by the concept, or they're unsure of what it could do to protect them.

But with uncertainty in our midst, being protected and financially secure are the best things you could do for yourself. For this reason, it's worth talking to a financial consultant to see which insurance policies work best for you.

So, if you're thinking of getting insurance, here are some of the insurance types you shouldn't live without!

Insurance #1: Term Life Insurance

If you have a family that relies on you, you'll need to have a life insurance policy. A term life insurance policy will guarantee that your family will be secure when you leave this world.

This is a great idea for young parents and people dealing with debt. It's imperative that you take the time to figure out how much coverage you'll need to get; that's why speaking to a financial consultant is key.

Insurance #2: Auto Insurance

Anyone who owns a car should have auto insurance. Given the rising costs of cars, having this option is a blessing to anyone who has spent a lot on a car.

Not only will you be able to get the best prices for your vehicle, but you and your family will be protected in case something happens while you're behind the wheel.

Insurance #3: Homeowners'/Renters' Insurance

If you're a homeowner, you should definitely have homeowners' insurance. This will protect you in case anything happens to your home.

If you're a renter, it's a good idea to get renters' insurance just in case your apartment burns down, floods, or gets destroyed in another way. While the rent may be cheap, the cost of replacing your apartment isn't!

Insurance #4: Health Insurance

If you're not insured, you're taking a huge risk. Healthcare costs are through the roof, and they're only going to keep going up!

If you don't have health insurance, you'll end up paying a lot more money than you want to by the time you're in your 70s. Thus, this is one of the biggest reasons to get insurance.

Insurance #5: Long-Term Disability Insurance

If you don't have the right insurance, you could be forced to take a gap year or stop working entirely. Even if you have a small gap or you aren't able to work, you'll either have to cut back on your spending or get loans.

But if you had disability insurance, you'd be able to do what you need to do without taking on lots of debt. This is one of the most important types of insurance you can get.

The Bottom Line: Speak to Financial Consultant to Ensure You're Choosing the Right Insurance Policy for Your Needs

If you want to provide for yourself, your family, and all of your loved ones, then you'll need to take the extra time to ensure you're insured.

If you don't have the right amount of coverage and amounts, you could be held back in your career and financial success. That's why speaking to a financial consultant is a must!

How Can Swell Financial Planning Help You?

The team at Swell Financial Planning can help you figure out the best ways to get insurance to ensure you're financially secure. Whether you need to purchase a policy, get tips on how to save money, or get a financial plan, you can count on us to find you the right solutions.

If you're looking for a financial consultant in the Gold Coast, reach out to us today!


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