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Monday, 7 January 2008

MaMaN Says....# 7 - I Hate Insurance !!!....but....

I hate insurance! And my hatred to those who sells Insurance were 10 times more!! They were so annoying!!! They will pestling, bugging and used that "scary movie-type" storyline(what happen to your children if you die?,What if you met an accident and lose your leg? and bla...bla..bla...) until you bought their plans.

But even I say so, I have insurance for my home, insurance for my car, insurance for my life(Cash Back Life Insurance), insurance for my kids(Life Family Plan Insurance), insurance for my health, insurance for my teeth, insurance for my prescriptions, insurance for my bank loans, insurance for when I travel....and the entries goes on.

Wow! It's a wonder, I don't have insurance for my insurance. Don't laugh, I'm sure I heard somewhere that there is an insurance company that insures other insurance companies. Someone must be making a killing off of all this. The only insurance I don't have these days, is pet insurance. Only because we don't have a pet, and the kids are lobbying hard on that front.

Insurance can be boring as well as confusing, but it is important that you get the basics right so that you don't get caught out.When you are looking at which types of insurance you need, it is easy to overlook some things that you need insuring. If you can afford to insure something or be protected against something then it pays to do so. You usually need more insurance than you think, both in terms of types of insurance and levels of cover.

Don't pay too much
Although insurance is necessary, you don't want to pay too much for it, you must Lower Your Insurance Premium. Insurance is only worth it at the right price. Paying too much for insurance will outweigh the advantages that it gives you. Always shop around for your Insurance Plans Pros and Cons, and consult independent financial advice if you are unsure about which insurance package is right for you.

Look online
If you want information about insurance terms, prices, or lenders then the best place to look is online. Some of the best insurance deals can be had online, and using one website to compare prices is much more convenient than walking round your high street talking to different lenders. If you want to save time then look online for your insurance first. And you might also consider on Online Insurance Policy.

What insurance do you need?
Obviously the type and amount of insurance you need really depends on your lifestyle and individual needs. However, there are a number of types of insurance that most people should have or at least consider having. These include:

  • Life insurance
  • Vehicle insurance
  • Property insurance
  • Liability insurance
  • Travel insurance
  • Medical insurance

Obviously there are many other types of insurance, and if you have something that you want to protect then you will probably be able to get insurance for it.

Is insurance worth it?
Many people think that insurance is a waste of time because it costs them money and they never claim. This is a good thing, because you really don't want to have to claim on your insurance. Good insurance is essential, because it protects the things that we value most. If anything should happen to these items then we know we will be compensated for it or be able to replace it.

Insurance to avoid
As well as good insurance there are plenty of types of insurance that you should avoid. Never pay too much for your insurance or more than you think it is worth, because this defeats the point of the insurance policy. Also, don't sign anything that has strict limits on what you can claim for, making the policy almost worthless. Try and get a good level of cover at the right price, and before agreeing to anything check that the lender is reputable and that if you need to claim they will be able to compensate you.

What Is My Deepest Fear?
We all want guarantees, we all want to know everything is going to be alright. We hope that things remain status quo, and their are no major disruptions in our lives. That's what insurance buys. Peace of mind. Protection from the unknown. At the same time we can Save Money on Insurance. Salvation from disaster. And when it works, that's great. Insurance is kind of a socialist sort of thing. Everybody chips in a little bit to protect the unfortunate. And that's good. I do feel better, if I think of my insurance premiums saving someone else from a life altering disaster. And the optimist in me believes that is what truly happens most of the time. It's when insurance companies refuse to pay out for people that really need it, that irks me the most. Especially when it's done just to line the pockets of shareholders and greedy CEO's. That's really not what insurance is for. So, be smart with your insurance purchases, and remember, we're all in this together.

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aYu said...

pening aaa pasal insurance nih..
But this yr resolution, I must get an insurance for my family!!!

Gill Graham said...

Great INFO !!! nice way of writing actually try to promoting this isn't it? :) nicely done!

Azlynn said...

Maman, i am a financial planner which is insurance is included in my scope of work. I know most of people don't like insurance agent...well, it's up to agent how they approach. for me, the most important thing is you decide what you want because insurance can be tailored made suits to your needs. it is good for you to know all the information about insurance becasue most people don't.

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