When the weather is nice and bright, you may not think much of an umbrella, but when it starts pouring, your umbrella becomes your only means of protection. Many of us do the same thing with insurance; we buy it only when something bad happens and when it’s too late. Having insurance in place before an accident gives you the peace of mind knowing that you’re covered in the event of an unfortunate circumstances.
Many of us have been stuck in a situation where we had no other option but to rely on our parents for financial assistance. It could be due to loss of job, illnesses or any other personal reasons. In such scenarios, it is always better to be prepared with insurance plans that help you tide over the difficult times.
If you are in your 20s, there are four types of insurance plans that you must never delay to have in your financial plans, to prepare you for that rainy day.