Not all insurance policies give you cover
At present, insurance plans cover the following types of risks:
Any particular organ or part of the body, health insurance for critical illness, insurance related to cyber world (to cover hacking, internet viruses, data leakage, etc), kidnapping and ransom, travel risks, cash risks, jewelry and ornaments, flood and earthquake, mobile and accessories, etc.
The question is, do we really need all such insurances? Of course not. One has to be very selective in what he needs and what he purchases.
Here is a list of insurance products that should be avoided if there is no necessity.
Flood & Earthquake
These types of natural calamities happen rarely. Even if flood occurs in rainy season, the area is specified and is not across the country. So, people living in flood-prone areas may think of taking such policies but for others it is useless.
Kidnap & ransom
Kidnap and ransom insurance covers the risk of ramsom payment to kidnappers. Though all companies donít provide these policies, a few companies do have such plans. The risks covered under such policies are very uncertain. The chance of such an
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