Life insurance is a contract between an insurer and a policy owner. If you are insured, understanding your policy ensures you can enhance your financial protection while also avoid leaving gaps. A lack of understanding may cause unwanted surprises which may have adverse financial consequences. The thing is...insurance policies can be difficult to understand for policyholders! Don’t fret! We’ve listed down the key things you should understand from your insurance policy to help you on your financial protection journey.
Insurance is essential because it financially protects you or your loved ones against unexpected events such as hospitalization, critical illness, or even the unthinkable. When it comes to something so important, it’s advisable to avoid insurance mistakes for better financial planning and proper coverage. To avoid confusion, here’s a guide to avoid those mistakes.
You’ve met the one, settled down, and had kids. That comes with responsibilities not only to yourself but your family. With a spouse and kids now to support alongside your parents, the years can become financially demanding with expenses such bills, mortgage, petrol, etc. What if the unthinkable happens and your family has to go on without you providing or even having to bear your debts? What if you can’t afford your medical bills? What if you do not have enough for retirement, and one day you might have to rely on your family?
Young and single? Feeling healthy? Have no commitments to a spouse or any children? So why get insured? As an overall benefit of being young, it’s because premiums are cheaper and you could be saving money in the long-run. But there’s more to it! Here are 4 types of insurance to consider as a young single person and why.
Insurance can be confusing. Questions can come in many forms. What insurance is right for me? How do I make a claim? How to make a nomination? A Google search may not always be enough as insurance plans can vary due to fitting different needs. Queries can be personal. So customers turn to insurance Customer Care. Even then, their problems might not end there. Here are some of the top problems faced by customers in insurance Customer Care. a) Limited working hours