Tsunami is one such thing that insurance companies will never be able to forget in their lifetime. It was one worst day in the history of mankind as well as for insurance companies who had to shell out huge claims following that. The figures show that the claim is expected to reach up to $10 billion. The case was even bad when the deadly Katrina Hurricane hit US. The claims are expected to reach to a staggering $27 billion and it is said that the year was the most expensive year in the history of the insurance companies with Japan typhoons, Tsunami and Katrina all happening in the same fiscal year. The impact of the natural disaster certainly hit the insurance companies most of the big insurance companies in India and Asia were to celebrate the quite period without any hassles. But this was marred by Tsunami.

Still the insurance companies did not get affected that much as most of the parts of the territories hit were not insured. In India the parts of Tamil Nadu and Karnataka which were badly hit were not covered fully. It was then that the Tamil Nadu government woke up and got the families and land covered under various insurance schemes but till then the damage had been done. So what is more important is what lesson have we learnt. We mean the Life Insurance Company and the general public.

As for the insurance companies as a result, insurance premiums have risen to record levels. But insurance companies and regulators will already be on alert for specialist insurers - for industries such as oil and gas - who may be destabilized by the costs of the disaster. The exposure is said to be limited to holiday resorts, personal accident, travel insurance and marine risks. For general public in large it is in the best interest to get themselves insured. For people living in areas prone to natural calamities it is very important that they are covered by insurance. The cost of getting insured and the benefits thereafter are far more then the actual cost. First and foremost advantage is that it creates compulsory savings in the way of premiums that are paid to insurance companies. Secondly asset protection this is one of the major benefits of having an insurance policy because the kind of asset protection it lends to all your valuable assets which may otherwise have not yielded any returns had it been affected by natural calamities. Life insurance is the only product that offers tailor made customized solutions for all your savings need at all stages of life be it for yourself or for your loved ones.

The above table exemplifies at each stage the needs and how life insurance products can help you achieve these goals. So next time when you are hit with any kind of natural calamities please make sure that you are insured. It does not mean that only those people who are affected by natural calamities should be covered with insurance but also general people who work today in this highly stressful life also need cover. Their cover is basically from the diseases arising out of this highly stressful life and also most of the office goers are either traveling through public transport vehicles or private vehicles and they also need cover against unforeseen circumstances arising.