- Date : 10/08/2015
- Read: 2 mins
Life Insurance provides financial protection to the family in case of an unfortunate event like death. A basic term life insurance gives maximum cover for the lowest premium.

There’s little you can do when natural disasters strikes, however a small amount of preparation about the unforeseen can help you deal with the crisis. The massive earthquake that recently hit Nepal and parts of India left behind scenes of devastation and despair. Though you can do little about things that are beyond control, yet a small amount of preparation about the unforeseen will help you cope with the crisis.
There are three types of insurance policies available that can help you weather the storm, well literally.
Life Insurance
Life Insurance provides financial protection to the family in case of an unfortunate event like death. A basic term life insurance gives maximum cover for the lowest premium. This includes death under any circumstances — natural or unnatural. However, it will not give any returns in case you survive the policy term. Calculate the amount of life insurance you need depending on your lifestyle and family size.
Personal Accident Insurance:
Different from life cover and health insurance, personal accident insurance provides compensation in the event of injuries, disability or death caused due to accidental, external and visible events. The policy usually provides cover against accidental death, permanent disablement and temporary total or partial disablement. Calculate the amount of health insurance you need depending on your cost of living in residence city and lifestyle expenses
Home Insurance:
The biggest casualty to any natural disaster, especially earthquakes, is your property. To safeguard it, you can opt for a home insurance plan. A normal plan will provide cover against fire accidents and theft. One will have to shell out extra premium to safeguard it against natural calamity. Today, most insurance companies provide householder’s package policy, which addresses insurance needs of a householder by combining all requirements under a single policy. It provides cover against fire and allied perils, including lightening, gas explosion in domestic appliances, bursting and overflowing of water tanks, apparatus or pipes, damage caused by aircraft, riot, terrorist act, earthquake, landslide and impact damage. This also provides protection against burglary and house break-ins, all risks (jewelry and valuables), breakdown of domestic appliances and personal accident. Besides, it gives an optional cover like public liability, thereby compensating the third party for the losses caused by the insurer. Besides, it also provides workmen’s compensation liability (to domestic servants engaged in insured’s premises).
Surviving a natural disaster is indeed a stressful situation. However, being patient and staying mentally strong may help you to get back to normalcy soon.
Source: BigDecisions.com