Five Insurance Policies You Must Avoid

     Concern of the future persuades us to buy insurance policy. In an attempt to safeguard our future we opt for insurance policies but many of insurance policies available in the market are none of our use. But we buy them as we can't foretell our future. We try to cover our bad time financial needs. Insurance companies well know this common public fear and provide a range of insurance policies planned to shield us from a horde of disasters that sort from disease to disability and rest in between. Here are top five insurance policies that are probably of no use for us.

1. Credit Card Loss Insurance

     This circumstance is already covered by banks and they offer no liability of card holder in case of credit card theft and purchase. So any insurance policy covering your credit card loss is of no use or simply wastage of your premium.

2. Credit Card Insurance

     Opting for a credit card insurance coverage is also of no use as in most of the adverse circumstances credit card companies themselves cover the part of wrong payment, misuse, or any other type of unwanted fraud or loss over credit card. So any credit card insurance policy will remain of no use for you.

3. Mortgage Life Insurance

     Mortgage life coverage may seem to you as a useful insurance policy as it recompenses your house in the incident of your death. But the fact is it will just add to your insurance premium or to the list of your insurance policies. Instead you should opt for a good life insurance policy and that will deliver sufficient money to recompense your mortgage as well as rest expenses. At the end, the mortgage isn't the rest bill your dependents will have to pay after you.

4. Flood Insurance

     Flood insurance is of no use unless you live in a severe flood prone region or having a fruitful farm house and agricultural land that can be affected of flood. So don't even bother to think of flood insurance.

5. Disease Insurance

     Health insurance policies exist to cover heart, cancer and other diseases. So don't try to figure out and opt for all likely diseases that you may come across. Rather than think of a good health insurance policy and invest into that. This policy will alone cover your medical bills and saving your pocket at the time of need.

     Insurance companies will flash a number of policies but very few of them are highly suitable for average people. In fact you may already have several policies which you just use to save your taxes. Broad insurance policies providing coverage for a host of possible events are far better choice than single focused insurance covers.