Endowment Schemes and Investment-linked Plans
   These often combine both savings and protection, and are particularly attractive for parents looking to put aside some money for their children in the future. Investment-linked plans usually make use of the premiums you pay to purchase life insurance protection and units in a fund administered by the insurance company.

Health & Disability schemes
   Health policies cover you in the event of a debilitating illness, tiding you over any expensive medical bills and loss of income. Usually, medical insurance is divided into Hospital and Surgical policies, and Hospital Benefits. The former covers expenses incurred in hospital, like X-rays and operations, while the latter supplements it by covering a pre-set amount per day for each day you are hospitalised (up to a certain number of days). Some companies also offer medical insurance plans that cover you when you are abroad.

Life Insurance: A Basic Primer
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Travel
   Travel insurance typically covers you for death, permanent disability, medical expenses, personal liability, loss/theft/damage to baggage, personal effect, and travel delay incurred during the course of your business or leisure travel. Policy holders can also take out protection for immediate family members. Premiums could depend on your line of work.

Motor
   This type of insurance covers you for vehicle loss or damage caused by accident, fire or theft and windscreen damage. In addition, personal accident cover also includes medical expenses cover for you and your passengers if there is an accident. Third party cover will include death or injury to any third parties and damage to third party's vehicle or property.

Home Insurance
   Protects your home against fire, theft and other hazards. Basically, home insurance covers theft, expenses for removal of debris, malicious damage like vandalism, and hazards like fire, lightning, explosions and bursting of domestic water tanks. In addition, accidental deaths caused by thieves or fire are also covered .

Finding your right policy and agent

Consider Your Needs
   Assess what coverage you require. Aspects of life pertaining to business, your family and you have to be considered. You may have to consider if you want it as a form of investment or purely for insurance. Usually, if you are expecting a lump sum of money to be accumulated over  the long run, you may have to pay more for the premiums. If you often travel on overseas assignments, it makes sense to buy a travel policy to insure one for travel mishaps, rather than for investment. However, if you want to save up for a child's future education needs, an education policy may be a good choice.

Value For Money
   Shop around. There are many insurance companies offering attractive premium rates. Based on your needs, find the policies that are suitable for you and assess which have the most attractive packages. Often, there are members' incentives bundled with the policies.

Financial Planning
   It is quite risky to take up a policy without assessing one's financial health. It is no point taking up an expensive life policy and find oneself slogging it out to make ends meet. Plan wisely. If you cannot set aside a sum of money comfortably for a policy, it may be wise to choose a less expensive policy.

Clauses
   It is important that despite all the glamour that attractive terms in the policy receive, you should look out for any clauses that may limit your claims. There are certain circumstances which are not covered by some policies. For instance, many policies do not cover deaths caused by scuba-diving and bungee-jumping.

Reputation Of Company
   It is always safer to put your savings in a reputable bank. This also applies for insurance. There have been cases of some insurance companies disputing claims by their clients. While it is true that some claims may not be genuine in the first place, it is always safer to choose an insurance company that has built up a reputation for itself.

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