BANGALORE: Today, you can find an insurance policy to cover almost anything imaginable but in reality only a handful of policies are actually needed. You work hard throughout your life to build wealth and live a happy and comfortable life, so some types of insurance can protect your possessions, income and even provide for a loved one when you are gone.

 There are some types of insurances that you absolutely should have, however there are just as many that you probably don’t need. Some of these policies may sound like a good idea but in reality all you are doing is wasting money on the premiums.

Here are some of the insurance policies that you need the most and some that you might not need:

1. Life Insurance

This type of policy is more important if you are married or if you have children. Your life is valuable as you provide the financial stability for your family. In your absence an income gap could put your spouse or children in financial trouble.

If you do not currently have life insurance your best bet is to check with your employer first. Many employers offer a basic life insurance as a benefit and some even allow you to purchase additional coverage at a very affordable rate. Apart from your employer plans, there are hundreds of insurance companies that can provide the right coverage for you. So go for it!