Not many people, especially when they are a 100% fit, can think that they would have to miss work because of an illness, or maybe because of an injury or an operation, and that paying mortgages could prove to be tough. However, what people don't realize is that healthcare is expensive and can result in costing you heavily.

The Southern Cross Health Center has stated that a cost of a knee replacement surgery can reach $23,000, apart from a year off work.

According to the information available 50% males and 70% females are unlikely to work for a month because of illness or another injury, before the age of 65. Further statistics show that 11,000 people suffer a cardiac arrest every year and that 33% men and 25% women suffer from one or another cancer, at least once in their lifetime.

The number of illnesses affecting people is proof enough that why people should opt for insurance. Insurance is of many types, like Health Insurance, Trauma Insurance, Income Protection Insurance, Permanent Disability Insurance and Mortgage Repayment Insurance.

Health Insurance is basically used to cover all medical expenses like surgery or a visit to the GP. While in Trauma Insurance, a person, who happens to be diagnosed with a life threatening disease, is paid a certain amount of money.

Disability Insurance, in the same way would provide a certain amount of money, when a person suffers an accident or sickness. While Income Protection Insurance, provides with a fixed amount of money on a regular basis, because of loss of work cause by an illness or an accident.

Provided the types of insurance and the risks involved, it is always better to opt for insurance and be safe, rather than sorry.