Guidelines to Select Worthy Insurance Policies
Insurance can do magic. Selection of right insurance policies not only helps you tackle severe situations that cost money and also, helps to secure personal financial plan for self and family. Below are the 5 must have insurance plans for an individual to select wisely depends on there status and requirements. Success of an insurance policy selection entirely depends on identification of your exact requirements. Prior to apply any, a person should do a self assessment to identify his/her present and possible future status, dependent requirements to select right policies. Below mentioned 5 insurance policies are very specific in its kind and combination of any or all of these are highly recommended to individuals depends on his/her situation.
1. Term policy – One of the most required and friendly policy for an individual who have lots of responsibilities. If you are the only bread winner in your family and worrying about the future of your dependents in case of anything bad happening to your life, of course, term policy is an excellent option to meet all your requirements. Term policy offering huge life cover with comparatively cheap and affordable premium. Taking maximum term by contacting multiple insurers to identify the best product is a good idea. A thumb rule is, choose a term policy with life coverage equal to 6 times of your annual salary.
2. Health Insurance policy: A must required policy for individuals to insure him/herself and family members through family floater policies available with cheap premium and more facilities. Hospital expenses are the major culprit to spoil your financial plan in a great extent, having a right medical policy is highly appreciated. Reading the features and compare the same with other insurers will give exact idea with what policy you need to select and go.
Remember these points: Cover all your family members with family floater, select the best insurer with excellent service record, opt cashless plan with networked hospitals, contact various insurers to identify the features as well as the cheap premium availability. Even if you have an employer sponsored health policy, it is better to select your own policy to meet any requirements that happening between the period of leaving a job and getting another one. You should be asked and well aware about the possible discounts on future premiums in case of no claim.
3. Accident insurance: Here, I have to crack a myth, most people considering that, subscribing an accident policy only helpful to those who have a vehicle and any possible accidents that can happen in the road. That is not true. An accident policy not only intended to deal with road accidents but, any kind of accident that can harm your physic, whether it is visible or not visible, can be covered under this policy. You have option to choose cover for death, partial disability, total disability both temporary and permanent depends on your requirement.
Remember to contact multiple insurers to identify the best available policy in the market in the sense of maximum facilities as well as product features. Select all required covers depends on your needs and pay premium as per that. Many policies have option to add or avoid any categories later depends on your future requirements. Remember to cross verify your policy certificates once after receiving the same.
4. Motor insurance: If you have a vehicle, it is highly recommend selecting a proper motor insurance coverage. Such policy should include third party liability cover to protect you from any incidents that cost large money from your pocket. Compare with any policies mentioned above, this is the only policy required proper negotiations to get right premium and facilities. Prior to select a company, you are required to contact multiple vendors to identify the best in the sense of policy features as well as cheap premium. Remember, motor policies providing a facility to transfer your no-claim bonus to a new vehicle. Remember, the premium of this policy entirely depends on the age of driver, his back ground and the age of vehicle. You can negotiate for a possible discount without compromising any added features or clauses.
5. Home Insurance: Your home probably your big investment in life. If you had owned a new home, it is better to protect with proper home insurance policies. Remember, a home policy not only protecting the home from any events like natural calamities or earthquakes but, you can even select protection from burglary, protection of valuables, electronic items or any other consumer durables. Contacting various home insurers will give you exact idea on various features available with such policies as well as the add-on features upon your additional requirements. You have an option to negotiate and get discount prices due to the competition on this space.
Understanding various independent features like Fire Protection policy and Householder package policies enable you to take wise decisions by adding all required features when choosing a home policy. You also highly required to compile a list of belongings to identify which all required to protect through a policy as well.
In general, it is important to have some preparations to identify your exact requirements prior to applying any or all of the above policies. You should know and well aware why you are doing such and how this will worth to you or your dependents. Well vision and preparation prior to applying any of these policies help you to select the best and add value to your money with little possible error on selection.
Insurance: A Guide
"Remember kids, I have life insurance" - Adam Savage
This is a guest article from Tatyana Levin
These days one must be financially savvy. Money is not easy to come by and should be managed carefully. With the availability of tools that make it easy to keep track of current events, the stock market, and even your own money, it would be almost a crime to not utilize these tools to make the best and most informed financial decisions. Unfortunately, the more there is, the more there is to keep track of. This applies both to tracking tools and money (the small curse within the comfort of having money to keep track of).
The savvier ones of us dabble in investments, and the savviest make their living that way. The key is that they know what to invest in. Not magically, of course; investors do a significant amount of research to learn how to optimize their portfolios, but they have the understanding.
A grossly overlooked investment is insurance. This may be because is not typically referred to as an investment with the exception of whole life insurance that has a specific investment component within it. Webster’s defines the word “invest” as a commitment of money for a return and “insurance” as a guarantee. This makes insurance the safest type of investment, because your returns are guaranteed. But returns are not always financial in the case of insurance. They can be, if there is an unforeseen accident, but the most certain return is the feeling of security.
Now there are many different types of insurance, and what you need depends on your current situation. Obviously you only need auto insurance, found using auto insurance leads if you have a car, and you only need renter’s insurance if you rent and have possessions that you would need insured. Insurance is for those who have something to lose. With an attachment to something, either emotional of physical (or dependence, not like physically being glued to your car), comes the fear that it will be damaged or ruined in some way. For example, if your house caught on fire, you would be devastated. What would add insult to injury is not having a way to recover from this horrible disaster.
These types of examples are not unique to this article. That is the way that insurance is sold. As they say that clichés are clichés for a reason, insurance is promoted this way for a reason. The foundation of the concept of insurance is uncertainty, and it is the same uncertainty that is conjured up when investing.
The main difference between insurance and investment is that not having insurance creates a feeling of uncertainty while investments by nature are uncertain. Therefore, investing in insurance creates security and is the only secure investment that exists (and is legal). Getting insurance should be one of the easier financial tasks if you apply all the resources available with technological advances like smart phones.
About the Author: This article was written by Tatyana Levin, a copywriter for InsuranceFiles.com
Insurance can do magic. Selection of right insurance policies not only helps you tackle severe situations that cost money and also, helps to secure personal financial plan for self and family. Below are the 5 must have insurance plans for an individual to select wisely depends on there status and requirements. Success of an insurance policy selection entirely depends on identification of your exact requirements. Prior to apply any, a person should do a self assessment to identify his/her present and possible future status, dependent requirements to select right policies. Below mentioned 5 insurance policies are very specific in its kind and combination of any or all of these are highly recommended to individuals depends on his/her situation.
1. Term policy – One of the most required and friendly policy for an individual who have lots of responsibilities. If you are the only bread winner in your family and worrying about the future of your dependents in case of anything bad happening to your life, of course, term policy is an excellent option to meet all your requirements. Term policy offering huge life cover with comparatively cheap and affordable premium. Taking maximum term by contacting multiple insurers to identify the best product is a good idea. A thumb rule is, choose a term policy with life coverage equal to 6 times of your annual salary.
2. Health Insurance policy: A must required policy for individuals to insure him/herself and family members through family floater policies available with cheap premium and more facilities. Hospital expenses are the major culprit to spoil your financial plan in a great extent, having a right medical policy is highly appreciated. Reading the features and compare the same with other insurers will give exact idea with what policy you need to select and go.
Remember these points: Cover all your family members with family floater, select the best insurer with excellent service record, opt cashless plan with networked hospitals, contact various insurers to identify the features as well as the cheap premium availability. Even if you have an employer sponsored health policy, it is better to select your own policy to meet any requirements that happening between the period of leaving a job and getting another one. You should be asked and well aware about the possible discounts on future premiums in case of no claim.
3. Accident insurance: Here, I have to crack a myth, most people considering that, subscribing an accident policy only helpful to those who have a vehicle and any possible accidents that can happen in the road. That is not true. An accident policy not only intended to deal with road accidents but, any kind of accident that can harm your physic, whether it is visible or not visible, can be covered under this policy. You have option to choose cover for death, partial disability, total disability both temporary and permanent depends on your requirement.
Remember to contact multiple insurers to identify the best available policy in the market in the sense of maximum facilities as well as product features. Select all required covers depends on your needs and pay premium as per that. Many policies have option to add or avoid any categories later depends on your future requirements. Remember to cross verify your policy certificates once after receiving the same.
4. Motor insurance: If you have a vehicle, it is highly recommend selecting a proper motor insurance coverage. Such policy should include third party liability cover to protect you from any incidents that cost large money from your pocket. Compare with any policies mentioned above, this is the only policy required proper negotiations to get right premium and facilities. Prior to select a company, you are required to contact multiple vendors to identify the best in the sense of policy features as well as cheap premium. Remember, motor policies providing a facility to transfer your no-claim bonus to a new vehicle. Remember, the premium of this policy entirely depends on the age of driver, his back ground and the age of vehicle. You can negotiate for a possible discount without compromising any added features or clauses.
5. Home Insurance: Your home probably your big investment in life. If you had owned a new home, it is better to protect with proper home insurance policies. Remember, a home policy not only protecting the home from any events like natural calamities or earthquakes but, you can even select protection from burglary, protection of valuables, electronic items or any other consumer durables. Contacting various home insurers will give you exact idea on various features available with such policies as well as the add-on features upon your additional requirements. You have an option to negotiate and get discount prices due to the competition on this space.
Understanding various independent features like Fire Protection policy and Householder package policies enable you to take wise decisions by adding all required features when choosing a home policy. You also highly required to compile a list of belongings to identify which all required to protect through a policy as well.
In general, it is important to have some preparations to identify your exact requirements prior to applying any or all of the above policies. You should know and well aware why you are doing such and how this will worth to you or your dependents. Well vision and preparation prior to applying any of these policies help you to select the best and add value to your money with little possible error on selection.
Insurance: A Guide
"Remember kids, I have life insurance" - Adam Savage
This is a guest article from Tatyana Levin
These days one must be financially savvy. Money is not easy to come by and should be managed carefully. With the availability of tools that make it easy to keep track of current events, the stock market, and even your own money, it would be almost a crime to not utilize these tools to make the best and most informed financial decisions. Unfortunately, the more there is, the more there is to keep track of. This applies both to tracking tools and money (the small curse within the comfort of having money to keep track of).
The savvier ones of us dabble in investments, and the savviest make their living that way. The key is that they know what to invest in. Not magically, of course; investors do a significant amount of research to learn how to optimize their portfolios, but they have the understanding.
A grossly overlooked investment is insurance. This may be because is not typically referred to as an investment with the exception of whole life insurance that has a specific investment component within it. Webster’s defines the word “invest” as a commitment of money for a return and “insurance” as a guarantee. This makes insurance the safest type of investment, because your returns are guaranteed. But returns are not always financial in the case of insurance. They can be, if there is an unforeseen accident, but the most certain return is the feeling of security.
Now there are many different types of insurance, and what you need depends on your current situation. Obviously you only need auto insurance, found using auto insurance leads if you have a car, and you only need renter’s insurance if you rent and have possessions that you would need insured. Insurance is for those who have something to lose. With an attachment to something, either emotional of physical (or dependence, not like physically being glued to your car), comes the fear that it will be damaged or ruined in some way. For example, if your house caught on fire, you would be devastated. What would add insult to injury is not having a way to recover from this horrible disaster.
These types of examples are not unique to this article. That is the way that insurance is sold. As they say that clichés are clichés for a reason, insurance is promoted this way for a reason. The foundation of the concept of insurance is uncertainty, and it is the same uncertainty that is conjured up when investing.
The main difference between insurance and investment is that not having insurance creates a feeling of uncertainty while investments by nature are uncertain. Therefore, investing in insurance creates security and is the only secure investment that exists (and is legal). Getting insurance should be one of the easier financial tasks if you apply all the resources available with technological advances like smart phones.
About the Author: This article was written by Tatyana Levin, a copywriter for InsuranceFiles.com
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