Insurance planning are an essential element of budgets for all kinds of lifestyles. There are so many types of insurance -- The New Savvy illuminates them and shows how to determine which ones are right for you in various life stages. Explore how to shop for plans, compare terms and assess premiums, benefits and payment plans in the context of your own lifestyle. With insurance offerings on the market ranging from supplementary medical, disability, travel, car, property, life, mortgage, endowment and even pet health policies, it’s crucial to understand the pros and cons of each type and how taking out a policy can affect your financial planning.The topic of insurance may appear to be complicated, and the typical policy’s fine print doesn’t make for light reading. This insurance planning and buying guide for women can help you figure it out.Insurance was designed to protect the holder from major liability in the case of catastrophe. It’s not hard to imagine the financial meltdown that would occur if a dream home were decimated by fire or a new Audi A4 wrapped around a tree. Including a position for insurance premiums in a household budget is a logical step on the part of any savvy woman.A crucial aspect of purchasing insurance is figuring out what you need to own in the first place. This guide offers great tips to help women figure out if a policy purchase makes financial sense. Sometimes it’s a matter of rationally weighing the odds of a significant event like serious illness interfering with your holiday plans, and how much money you stand to lose in prepaid airline fares. Other times there are factors to consider from a more emotional point of view, as the prospect of children becoming destitute following the death of parents with no life insurance.There are several pathways to a prudent investment in insurance. Above all, it pays to be a thorough researcher and educated shopper. Insurance is a retail product which is marketed and sold directly to the people who need it. Agents, the internet and even telephone salespeople are some of the very accessible points of contact to start comparison shopping for insurance of almost any kind. Employers often offer medical, dental, disability and life insurance packages and may deduct the premiums from your pre-tax income to lower your overall taxable base. Government-sponsored safety net medical insurance programmes designed specifically for the retirement years are now a given in most countries.This insurance planning and buying guide for women, particularly when used in consultation with your financial planner, can help you maximise your insurance benefits while keeping your premiums low. Familiarising yourself with insurance jargon with The New Savvy’s help will go a long way towards developing any woman’s strategic thinking about insurance.