One of the most frustrating processes to endure can be completing an application for a life insurance policy. The agent gives you a complete, and I do mean complete, run down of the companies various life insurance policies on offer which could take half an hour more of your valuable time, usually as you are ready to sit down to a meal. When he's convinced you of which policy he thinks you need, he laboriously fills out the form for you, in case you make a mistake. During the form filling, he remembers to tack on a few more provisions, adding to the cost of the premium. At the end of the process when you finally say goodbye to the agent, you are left with the feeling of weary confusion and uncertainty about whether you have done the right thing.
The first recorded instance of insurance was related to shipping. Back in about 1750 BC, Babylonian sailing merchants negotiated loans to purchase cargo with the proviso that if the goods were damaged or stolen or lost at sea, the lender would guarantee to cancel the loan. The borrower paid an additional fee, the premium, for this guarantee.
Most of us never consider that we need life insurance until much later in life when we are old. Consider the tragedy of a young couple who, after joyously announcing the birth of their first child, were later given the news that their daughter was blind. This condition required complete round the clock care from at least one of the parents. The couple cashed in their whole life policies to supplement their dwindling savings. Later, the husband was involved in an accident at work and failed to recover from a coma, leaving the family without the means of financial support.
There are some drawbacks with purchasing on line insurance policies that you should be aware of. Online plans are often preset so you can't tailor a plan to suit you or negotiate a change in the premium price. Some customers benefit from having the policy provisions explained fully by an agent before purchasing a policy, something that it isn't available with online plans. As yet, not all insurance providers have an online claims service so that if you need to make a claim, you will still need to contact the company in the normal way.
Insurance is important for all kinds of reasons. Life insurance is important and needs to be factored into the family income plan early in life, before tragedy strikes. It is always more beneficial to stay protected than have to worry about making decisions without enough money.
The first recorded instance of insurance was related to shipping. Back in about 1750 BC, Babylonian sailing merchants negotiated loans to purchase cargo with the proviso that if the goods were damaged or stolen or lost at sea, the lender would guarantee to cancel the loan. The borrower paid an additional fee, the premium, for this guarantee.
Most of us never consider that we need life insurance until much later in life when we are old. Consider the tragedy of a young couple who, after joyously announcing the birth of their first child, were later given the news that their daughter was blind. This condition required complete round the clock care from at least one of the parents. The couple cashed in their whole life policies to supplement their dwindling savings. Later, the husband was involved in an accident at work and failed to recover from a coma, leaving the family without the means of financial support.
There are some drawbacks with purchasing on line insurance policies that you should be aware of. Online plans are often preset so you can't tailor a plan to suit you or negotiate a change in the premium price. Some customers benefit from having the policy provisions explained fully by an agent before purchasing a policy, something that it isn't available with online plans. As yet, not all insurance providers have an online claims service so that if you need to make a claim, you will still need to contact the company in the normal way.
Insurance is important for all kinds of reasons. Life insurance is important and needs to be factored into the family income plan early in life, before tragedy strikes. It is always more beneficial to stay protected than have to worry about making decisions without enough money.
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