Let me stop your yawn right there because insurance is not something that should be taken lightly. Yes, we tend to nod off a little when someone talks about insurance but if you don’t take measures now, your family will be looking at piles and piles of bills in the future. Every penny you save now means more flexibility and resources for your business and yourself.

There might be a few luxuries that you want to buy now but your goal should be to focus on just the bare essentials. An occasional dip in your savings for a family trip is all well and good but anything else should be put on hold. As an entrepreneur and a family man, you need to think about getting a few insurance policies.

So, without further ado, let’s have a look at the 5 important types of insurance policies that you should invest in:

1.     Health Insurance

Now a days, health care costs a fortune. This is the no. 1 coverage that you should go for as soon as you are eligible. As you get older and develop health problems, the premium increases and makes it difficult for you to make monthly payments. Health insurance covers major accidents that put you on either a permanent or temporary medical leave.

2.     Funeral Insurance

Every person wishes that in case of their untimely demise, their funeral is done according to their liking. Funeral insurance gives you the benefit of planning your funeral’s service and arrangement beforehand. It also gives your family the ease that after you are gone, they are not burned with arranging a funeral. The family gets a lump sum amount to make the arrangements and the service is done according to your specifications.

3.     Disability Insurance

A small illness or accident can cause a lot of problems for your family. If you are the bread maker in your family, it means the house functions on your paycheck. If you are laid out on bed due to a broken leg, your family cannot run just on savings. Disability insurance provides you with backup as you recover. However, it only covers half your paycheck.

4.     Liability Insurance

Liability insurance is one of those “what ifs” that can change your life. Imagine walking on the footpath when suddenly a board from the construction site falls on your head. Such freak accidents is what liability insurance covers, so that you can seek medical help without paying from your pocket.

5.     Life Insurance

Lastly, life insurance is a policy that you can purchase at any age. If you have a family depending on you, this is a policy that you should definitely get. In case you die unexpectedly, this policy will help your family deal with the loss of the steady income. It is worth talking to businesses like Freedom Insurance for getting this kind of cover.

Think of these five insurance policies as your five senses that you need to function. Without any one, your life will not be the same. It’s important to invest in these policies because along with your future, you family’s future also depends on you.