Granted, money can’t buy happiness. But it can make life easier. People are desperate to earn money, for both right and wrong reasons. Desperation is never a good thing as it clouds one’s judgment.

Those desperate people lack the ability to think critically and refuse to mull over the most fundamental question – what’s the point of earning money if it slips through the hands?

The answer is none. People are not half as serious about managing money as they are about earning it. We can only wish they were but since they are not, here are some actionable tips for them – tips on finding insurance to manage money better.

Select an insurance policy

Insurance policies are like caregivers providing relief when you need it the most. Buying an insurance policy gives you relief from a lot of things. Knowing your hard-earned money is in the safe hands brings peace of mind.

Life insurance

It is the most basic form of insurance. And there are a number of benefits of life insurance.

Assuming life insurance is your investment priority and you’ll invest in whole life insurance, you might receive annual dividends. Dividends are not always taxable, and when they are taxable, that’s a sign you are earning a lot. Third, if you outlive the policy’s maturation date, you’ll be paid the whole amount your off springs were to inherit.

With all these benefits, it’ll be foolish not to siphon money into the insurance bucket. To be more precise, into the life insurance bucket.

Life insurance is one type of insurance. There are other types, including:

Home insurance

There’s no better way to protect your home than to have it insured. Insurance protects your home from theft, accident and natural calamity. Hurricane Irma is still fresh in the collective memory. Thousands abandon their homes in its wake. When natural disasters strike, property damage is the outcome. It’s impossible to avoid it. But it’s possible to get reimbursed. That’s why home insurance is for.

And it doesn’t have to be a natural calamity. Imagine in the eve of Christmas, when everyone’s celebrating, when you are least prepared to counter a mishap, your beautiful home catching fire from the well lit Christmas tree. An unlikely scenario, but a primer on the need to have home insurance.

You can play your part by installing cutting-edge home security and accident prevention equipment. Such equipment include fire alert, smoke detector, fire extinguisher, doorstep alarm, burglar intruder DIY kit and many others. In the insurance market, securing your house means low premium.

One more thing to keep in mind if don’t ask for compensation when the damage is minor. This might engender the insurance company to flag you as a high risk buyer and delist you. The wisest thing to do is read the policy carefully to know the company’s policy regarding minor damages.

Health insurance

Health insurance is the third most important type of insurance after life insurance and home insurance. In the United States, 87% people are covered by some form of health insurance. If you are among the remaining 13%, get a health insurance now.

But before you rush to get one, understand the affordable care act may be repealed in the future. Changes have been proposed by Republican senators to make affordable healthcare reflect President Trump’s vision. Of all the proposed changes, one is insurers will offer plans to those who don’t meet Obama care’s requirements.

This proposed amendment is controversial. Nobody knows how it will play out for the uninsured when/if it’s implemented. If you are uninsured, check how many pre-existing conditions you have. It’s best if you consult a lawyer.

Auto insurance

Is your car insured? If not, have it insured already. The law mandates all the car owners in the country to insure their vehicles. Auto insurance is a very competitive market. Providers know that and try to dish out the best to customers, which means you have a lot of bargaining power.

Take your time, comb through all the policy details and compare different policies. Meanwhile, improve on the look and feel of your car. If the vehicle is not in good shape, expect high premium. Top rated insurers offer best policies, so it’s best if you buy from a widely known company. Be extra careful of deductibles. They should be set right.

Pet insurance

Have a pet? Care for it? Then insure it. You’ll be shocked to learn how much Americans spend on the upkeep of their pet. It’s over $60 billion. Yes, you heard it right. More than $60 billion and not a dime less.

The last thing you want is your pet to get seriously injured or sick. An insurance policy will come in handy if it indeed happens. What many pet owners don’t know is pet insurance premiums are cheaper than other insurance premiums. A comprehensive pet insurance policy will cost you few hundred dollars a year, which is darn cheap when compared to home or auto insurance.

Unplanned costs hurt terribly. With pet insurance, you’ll feel at ease knowing you have insurance to cover veterinary fee and emergency care expenditure. What can be a better way to manage your money and taking care of the pet?

Conclusion

It’s time to wrap up this lengthy discussion. Hope you’ve derived the takeaway – that buying insurance policies is a step that reflects prudence. Your money will be safe and so will be a lot of other things.