The outbreak of the pandemic Coronavirus has caused the worldwide economy to collapse. Millions of people have become unemployed due to the shutdown of industries, businesses. This number is also increasing rapidly in India. The coronavirus crisis is not just a health crisis, it has put mankind in trouble in every way. Most companies in the country are doing salary cuts, layoffs. In such a situation, there are some things that you should also learn to deal with this unexpected crisis.
Health insurance required
Coronavirus is an unprecedented health crisis that has killed millions of people worldwide. It has broken the health services of many countries. So at such a time, you should have health insurance. One reason for purchasing a health insurance policy is that the insurance cover given by your employer will not be ineffective in the event of retrenchment/job loss.
It is very important to have an emergency fund
Often people do not have an emergency fund. However, a lesson can be taken from this epidemic that it is very important to have an emergency fund. People without emergency funds will have to go through a financial crisis after loss of jobs or after salary cuts, as they will not be able to pay MI, bills etc.
One source of income is not going to work
Have you ever wondered why millionaires, billionaires have many sources of income? This is because life is unpredictable and having many sources ensures that in times of crisis, you will have options to trust. People who are completely dependent on a job for income often face economic crisis.
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