Money will not sink even if the marriage is canceled, wedding insurance will cover the expenses, know

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Indian weddings are famous all over the world for their grandeur. Most people spend a lot of money on weddings. People often go beyond their means in terms of spending. This is the reason why it is very difficult to get a marriage annulled in India. There are very few occasions when a marriage gets stalled due to some reason. But if it happens then you should be prepared for that situation also.

If the wedding gets cancelled, you may have to pay cancellation fees and upfront charges for many of the previously booked services. In such a situation, marriage insurance can prove to be very helpful for you. Professional wedding planners highly encourage their clients to purchase this insurance. Weddings are very expensive and insurance will protect you from financial loss in case of cancellation due to any untoward situation.

understand the math of insurance

If you take an insurance cover of Rs 20 lakh, then you will have to pay Rs 2,000 to Rs 20,000 as premium. Now the question comes that in which case of cancellation of marriage, the benefit of insurance cover will be available. If the marriage gets canceled due to natural calamities, fire and riots, then the insurance cover will come in handy. Also, if the marriage gets canceled due to an accident or the money is stolen, the bride, groom or any of their close relatives will get the benefit of the insurance cover. If the marriage is called off due to lack of funds, the bride or groom not attending the wedding, or court orders and summons, the insurance will not cover the benefits.

According to an expert associated with the insurance industry, it is not much preferred in India as many times the wish is not even considered by the bride, groom or their family members. He said that wedding insurance is generally taken for weddings where the expenditure is more than Rs 50 lakh.

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