You have planned all the things regarding wedding so that you can relax on your big day and make it happen smoothly. But what if unforeseen events take place on your big day and ruin all your effort, and stop your wedding from occurring?
We wish nobody has to face unfortunate situation on their auspicious day but unfortunately accidents happen to people sometimes that’s where the concept of wedding insurance comes which helps you to recover your loss or give you the financial protection.
Like other types of event insurance, wedding insurance is designed to protect you from various potential losses associated with your big day. These events generally fall under liability coverage or cancellation coverage.
In Nepal wedding insurance is not prevail but in western country it is already implemented. It is really for the couple when they have to cancel or postpone their wedding, but not under all circumstances. The causing event must be out of control.
Likewise if there is damage of property at your nuptials party due to bad weather or accidents that hamper your wedding from happening can be compensated by the insurer.
As the world is globalizing in the rapid process there is high chance that Nepal also will start the concept of wedding insurance.
In West or even in India, you can take loan for your wedding. It is not exactly a wedding loan but a variant of a personal loan which can be used for purpose of funding marriage.
You can have a wedding loan as per your income. To take this loan you must be eligible and fulfill all the requirements as per the lender like your age, source of income and other documents. After analyzing all your documents and records they will decide whether to give you a loan or not.
If you meet all the criteria for the process, then you will easily get the wedding loan. The system of wedding loan is very beneficial for the people who want to get marry in a magnificent way but not able to spend in that way to make a wedding grand but able to pay the loan in an installment later.
Maybe in the future, the system of wedding loan may be created in Nepal as well and we can also take a wedding loan to cover our wedding expenses, and pay it in an installment.
But before you take a loan, use EMI calculator to ensure that amount in the future won’t be a problem for you to pay. We won’t suggest you to take a loan unless it is needed desperately but if it is really needed for you to take a personal or wedding loan in the future and you are going to take it then, we suggest you to assess your monthly income and expenses.
We hope this article is helpful for you to know the simple concept of wedding insurance and wedding loan that exist in other countries. We only want to have a knowledge about it as it is not prevail in Nepal. For deeper and thorough concept of it you can browse on the internet.
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