The entire world is looking towards life post-COVID-19 lockdown in fear. This is a dreaded disease and can strike at any time and so far, no real magic drug has appeared on the horizon. A drug will take time. Payout for hospitalisation and treatment is high. However, everyone has realised by now the importance of insurance policies and the need to get covered. According to tax and investment experts, in reality, while insurance should be the first priority for all, in fact it is actually mostly ignored. Now that Covid-19 has put fear in everyone's mind, people are expected to buy insurance. But they should not do it blindly. In  fact, there is a strategy for buying insurance too. Here, experts reveal top 5 must-have policies.

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On the top 5 insurance policies that a person must have, SEBI registered tax and investment expert Jitendra Solanki said, "Insurance has three primaries — health, life and disability. For life, buy life insurance or term insurance, for health, buy health insurance, while for disability, buy accidental insurance. Apart from this, buy home insurance too because it helps a person to claim insurance in case of disaster or theft." He said that these 5 insurance policies are a must for any portfolio.

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On which insurance policies should be bought and at what time in the stage of the life of the investors, SEBI registered tax and investment expert, Manikaran Singhal said, "At the beginning of a person's career, there are few financial dependents. So, first buy personal health insurance and for the dependents too. After that buy personal accidental insurance and then life insurance. While buying life insurance, term insurance should be the top priority. Later on in career, when also buy a home insurance." 

Singhal said that while making a portfolio, a person should first focus on the insurance part, once done with it, start investing in various money-making return-oriented funds and schemes.