- Personal Finance
Insurances: would you like to buy one?
Is it costly or not?
It serves as protection for life, so they say. If you get sick or be involved in a freak, unavoidable accident the insurance company will pay for the cost of operation. Or I may say the partial or total cost of the services of equipment and medical personnel in the hospital you’ve been admitted will be paid by the insurance company.
Choosing the Life Insurance Company
There are many major life insurance companies selling proposals in your community through their branches situated in the populous part of the vicinity.
Walk-In Client. If you go to their office directly and didn’t involve the middlemen or the agents, you can get their special promotional discounts in paying the principal or the amount of money to be paid initially.
House to House. There are agents who will visit your homes and convince you about their offerings. If you fall in their baits, they will now promote the benefits of having life insurance.
Yellow Pages. Some insurance companies will send you pamphlets without you knowing applying for them. I’m sure they scanned the yellow pages of telephone directory and tracked your address. Then , presto, you are receiving their insurance pamphlets and brochures crowding your mailbox.
Mall Watch. Every time you go to the mall, better watch out for the insurance agents who are frolicking inside the building. Here in the Philippines, even you’re just about to enter the mall, they will greet you at the facade and accompany you at their table situated at the ground floor of the mall. If you're still not convinced, you have this book from Amazon on marketing strategy. (Please refer to the book at the right corner of this hub.)
Sell it or Buy it
This is an additional income for you and your family. Many wives in the cities or even in the countryside are testing their luck selling life insurances. They are sweet talkers that they can convince almost everybody in the community.
If you are single and in need of additional income, you can add selling life insurance to your resume.
If you are capable of buying their proposals, then you can avail one of the plans suited for your lifestyle. It can be for one year only or five-year coverage, depending on how you will manage your life in the future.
Trusting The Insurance Salesmen
Trusting someone requires a patient analogy or investigation of the character or a person. When the insurance salesman says “Trust Me,” you should have a thorough research about an array of insurance policies that will or will not happen to you. Take for instance:
Whole Life Cover. It is a good ploy, which covers death, total permanent disability and critical illnesses. There are set of term plans from 5 to 25 years that are easily payable. As I said, you can still enjoy insurance benefits while you are still living and not decomposing at the grave. “Death-in-Service” covers the mortuary services like the wake, and funeral rites as well.
Travel Insurance. If you are travelling abroad, it’s necessary having insurance. You can buy the cover offered by your tour operator. If may be doubled if you charge it with your bank or specialist insurer. A yearly policy offers the best value while you are travelling.
Income Protection. We are happy to insure our car, home, holiday or travel and life, but we never protect our income. I we get sick or become disable, our income protection or disability income insurance pays a regular tax-free monthly income of about 50 to 70 per cent of the insured’s pre-disability income and depending on the policy. At least you will be receiving your income as long as you are sick or unable to work.
ID Theft Insurance. This is very common here in Asia. ID fraud or stealing someone’s personal account is very alarming. AIG, for instance, offers ID Guard insurance that covers up to $3500 per occurrence if your credit card number and ID details have been compromised. You may need to pay for only $35 a year for the policy.
Credit Card Protection. It’s the same as the ID Theft Insurance. Once you discover that your card is missing, you call a helpline and the insurer contacts all you card companies and arranges for the card to be cancelled and replaced.
Extended Warranties. Buying a refrigerator, for example, will ask the salesman if you would like your purchase for an extended warranties. If the product is exclusive to the retailer, you could apply for the warranty, including the repair supports and parts. But, if the gadget or equipment is common and can be purchased at other store, then you need not apply for the extended warranty.
If you're interested in buying insurances, you better have a better review of its benefits and good options.