New Year Resolution 2021- Yes to Insurance!

The time has arrived when we all are looking for a New Year Resolution-again! If you’re also gearing up to set yours, then how about making classic ones with a twist this time? Rather than opting for traditional pledges like losing weight, quit smoking or be kind, let’s try something new.

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    Or are you someone who has stopped thinking about them, considering the previous bad records?

    Whichever is the case, you should definitely try some insurance goals this year. Insurance is something that has always been ignored or taken lightly. But in the long run, the benefits are insurmountable. So, here’s our New Year Resolution-2018 list which is comprised of various insurance goals that you should try to achieve.

    Let’s have a look-

    Resolution # 1: I’ll Renew Car Insurance on Time

    Just imagine-You’re all set to celebrate the New Year's eve with your buddies. While heading towards your favourite destination, a traffic policeman stops you. Sadly, you are not carrying valid car insurance. Standing in front of the policeman who is asking for your papers, you go into a flashback and recollect how your insurance advisor had reminded you, repeatedly, to renew your lapsed car insurance. You had ignored all of it with deaf ears.

    This is as horrible as a festive-mood-spoiler can be. Just to avoid a spill-over, you could end up paying thousands as fine or face an imprisonment of 3 months, as car insurance is mandatory by the Motor Vehicles Act, 1988.

    Who wants to party? All hands are raised. And who wants to get into these legal hassles? All disappear.

    Many of us know that plying a vehicle without insurance is a legal offence. Unfortunately, more than 60% of registered vehicles on the roads are without insurance. Statistics say that out of the 21 crore vehicles registered in India, only 6.5 crore are insured with insurance companies.

    To make yourself responsible towards your prized possession, you can add 'renewing car insurance on time' to the list of your New Year Resolution-2018. This could very well be one of the best things you do this year!

    Resolution # 2: I’ll Stay Healthy! Obviously, with a Health Insurance Cover

    By this, we’re not talking about weight loss or a stringent workout. Health can also be related to mental or financial stress. The lesser the stress, the happier you are in life. A happy life leads to healthier one. On the other hand, being unhealthy means frequent hospital visits and a huge monetary drain. As we already know, quality medical treatment costs are sky-rocketing steadily and affording these expenses is not everyone’s cup of tea.

    In this regard, health insurance appears as a saviour. Health insurance saves you from financial stress as it supports the insured by covering pre and post-hospitalisation expenses, providing free medical check-ups after a fixed tenure, maternity benefits (however, only a few cover this under a basic health insurance plan). Looking at these benefits, one must consider health insurance in his/her financial kitty as well as New Year resolution list. Though, we hope you never have to claim your insurance. Also, by keeping yourself healthy, you can avail these plans at a cheaper rate as well.

    Resolution # 3: I’ll Travel as Much as Possible! Obviously with a Travel Insurance Plan

    “The world is a book and those who do not travel read only a page.”  — St. Augustine

    Travelling gives us excitement and a bunch of good memories. While travelling gives us a peek into how the rest of the world lives, it also sparks joy into our busy and monotonous lives. And when it comes to exploring new places and people, the risk of unforeseen possibilities is not far. What if you meet a road accident and get injured? What if your trip gets cancelled? What if a calamity struck your destination? It is quite tough to handle the odds in an unknown state or city.

    If you’re planning to visit a foreign land in the upcoming year, then do consider the expenses that may arise out of an emergency. Hence, purchasing a travel plan is a good option to cut through any sudden expenses and enjoy the trip without any hassle. So, if travelling is in your resolutions, then make sure you travel only with a good travel insurance plan.

    Resolution # 4: I’ll Save More for the Future

    How are you going to save more in 2018? Will you limit your shopping? Will you stop regular eat-outs, or will you limit your visits to the bar?

    Believe it or not, you need not put a full stop to the above to cushion yourself financially. Can you guess what can help you save more?

    An insurance plan!

    Whether it is Life or General insurance, it always stays with you. As life is unpredictable, no one knows what's in store for the next morning. There is no point in worrying about all that can go wrong. The best you can do is prepare for the worst. When you invest in something like life insurance or health insurance, you create a financial back-up for your family in case of your sudden demise.

    Moreover, when you keep aside a separate fund from your earnings, unplanned expenses wouldn’t bother you too much. If it is a bit difficult to spare some money every month, insurance plans come in handy as you can pay a certain amount annually to get continuous coverage.

    This way you can save more and remain happy! So, if saving is your concern then shop for an insurance plan that helps you save more!

    In a Nutshell!

    New Year resolutions are a kick-ass way to welcome a year full of goals. No matter if you don't achieve each of them, what matters is that you put in your best efforts to fulfill them. Consider adding insurance to your resolution list as is not only a good idea but also a financial backup plan for you and your family. Add it to your New Year Resolution-2018 list, and see how far and wide you can go with it. Have a great year ahead!

    Written By: PolicyBazaar - Updated: 25 April 2022

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