General Overview of Life and Non-Life Policy

GENERAL OVERVIEW ON COMPOSITE INSURANCE
Life itself is risky and it is a risk not to be part of the risky adventures of life. Buying insurance is one of the adventures in life that are risky not to be part. As many of you know, we live in a world full of risks and threats. Because of this, we have to transfer our risks to reliable and good third parties who can reduce risk at an affordable cost for us. What this means is that should the unforeseen occurs, we and our family members as the case maybe will have something and someone to come to our aid. However, besides cost, there are also many important aspects we have to take note of before finding the right insurance for ourselves. Now, read on to find out what aspects you need to scrutinize before buying insurance.
Life assurance should be the first insurance policy that I would recommend for someone to acquire before other insurance polices. This is because it provides financial benefit for policy holder, beneficiary or a family member in case the insured dies. It will also pay for the burial or funeral expenses. There are companies that offer cheap insurance, so check out by requesting quotes and compare. That's the best way to get a better deal. However in an economic meltdown situation where most companies are striving to survive, its only reasonable for one to look at the books ( financial statements) of these insurance companies and also look at there pedigree in terms prompt and effective claims payment.
Another type of insurance that you might arouse you interest is home insurance. If you own a house, you may purchase a policy to assist you in case it will be damaged due to natural calamities like flood, earthquake, typhoon, and the like. Ask a representative for inclusions and exclusions on the standard coverage to manage your expectations. This comes as a cheap insurance because those who are renting can buy a separate policy for renters. However home insurance are for people that have a home. For some who does not have a home and desires to get one, mortgage insurance to cover the mortgage loan received from a financial institution would meet the perfect need of the persons. It will also reduce the risk of the assured or the beneficiaries losing the property should there be eventuality or incapacitation to offset the mortgage loan.
On the other hand, auto insurance is considered as widely purchased policy. If you own a car, you would likely purchase a policy to help you lower the cost of repairs in case of vehicular accidents. This is thought to be costly but there are still ways to get cheap insurance for your car. If you have two or more cars, you can insure these vehicles to get discount. The difference in the premium is very minimal when you purchase a policy for two cars as compare to purchasing one policy for one car. However the contemporary third party insurance cover are the most sought after in less developed and developing country like Nigeria where the awareness and the perception of the an average Nigerian citizen still have some reservation about the business of insurance.
Other form of Insurance that are not common though are usually required by Embassies at one time or the other especially when people is migrating from one country to another are The Health Insurance and The Visa Insurance. Students who are wishing to study abroad can visit the link below for a guided information.

Generally you can get cheap insurance when you pay your premiums annually (lump sum payment) rather than paying monthly or quarterly. It helps to reduce the cost of your premium since you will have less management cost. Thus, you can opt for a one-year policy to have a big discount. Always read and understand the terms and conditions contained in your policy. Some dubious insurance companies do not stick to the principle of utmost good faith and disclosure in their transactions with the public. It is advisable to seek the advise, services and recommendation of an Insurance broker and don't be afraid to request for discount from your provider. Choose a good company that offers cheap insurance. Remember to get different quotes from various providers offline/ online before signing up or renewing your policy.
Inflation is one factor to watch out for in our quest to buy insurance protections. Always check if your claims are adjusted for inflation. To many people, this is vital because inflation has usually been on a rising trend since historical times except for some periods of deflation during the Great Depression. Because of this, the purchasing power of money is constantly declining and if money can get devalued, so can your insurance claims. Nevertheless it is better to get our lives and properties protected against unforeseen than not protecting them at all as a result of our not being comfortable with the adjustment provided for inflation.
Should your claims not be adjusted for inflation, you will be gradually paying more premiums to get less coverage and by the time you really need the claims, they may be insufficient to cover your losses. With this, you will retain risk that ought to be transferred and help the insurance firms save money. Now, if you want to transfer risk, why not transfer everything to third parties instead of retaining some for.
Furthermore, you should also take note of the changes in benefits over time and how they can affect you. This is important because some policies can change as you age. For example, term life insurance where the premiums get higher (as you have higher likelihood of dying) and claims get lower (because the firms want to save money). Given this part where many overlook, people tend to make mistakes on buying the cheapest policy which may not be as effective in transferring risk away. Because of this, buyers must explore this component very thoroughly. However I have always emphasize that it is better to buy a cheap policy and get protected no matter how cheap the policy may seems to appear than to an unprotected life in a world where the economic situation increases our propensity to be exposed to risks. Most of us who are looking for a company to buy insurance policy try to choose one that offers the cheapest policy. As we are facing economic downturn, we always look for ways on how to save on everything. And getting a cheap insurance is a great way to make do a tight budget.
Be constructive in your bargaining power and negotiations skill so as to get a better deal from the Insurance Company. In addition, you should also know the percentage of previous income the policy pays to you if something tragic happens to you and you get covered. A general guideline would be to get the highest percentage. While this is sometimes hard to achieve, it is nevertheless still possible if you want it because there will always be providers who will want to earn the extra buck. After all if prospects like you do not exist, the Insurance companies will not be in Business.
In conclusion, after covering these vital components in insurance tips for policies, I have no doubt that readers are now smarter in picking the right policies to transfer certain risks away from them. Being equipped with this knowledge, protect yourself well and remember that you are your most important asset. Invest in yourself now, Buy Insurance today for a secured tomorrow

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Life Assurance Policy in Children Education Planning

When a child is born, the parents owe that child the responsibility of giving him/her basic,sound and qualitative education. The success of the child is the success and the pride of the parents. One of the key to success is sound and qualitative education. In the course of my research i discovered that parents do not always fancy sending their kids to public schools especially in developing and less developed countries. This as a result of the poor standard of teaching and management of the public school at all level. Also i discovered that the least paid primary school in Abuja, Nigeria goes for about #20,000.00 Naira/term (about $133.00), the least paid private secondary school in Abuja, Nigeria goes for about #60,000.00 Naira/term (about $400.00) and the least paid private University in Abuja, Nigeria goes for about #200,000.00 (about 1333.00) Naira/acedemic session

The amount of money which has to be paid for a period of 6 years in some school system may not be so easy for parents who did not plan very well for it. Even in public schools, school fees run into several thousand of naira which still need adequate planning to ensure availability of fund to pay for these fees when a child is due and ready to enter a particular level of education. The education of our children should not be based on the speculation of when the comes, there should be a way to settle the bills (school fees), our children education should be based on the certainty of making sure that there is something(a plan)on ground to take care of the school fees and up keep of our children whether we are there or not.

There are Life Assurance companies that has a plan that can guarantee a child's education at whatever level whether the parent is there or not. It is a plan that centers on what the parents want for a child, the type of school they want a child to attend and the fees obtainable in such schools. It is a plan that can guarantee the availability of fund whenever your child is ready to enter any level of education. What this means is that your children must go to school whether you are there or not. The agony of stopping a child from going to school due to the exit of a bread winner or sponsor has been taken care of. We believe that parents who have education policies for their children sleeps more soundly when they go to bed and even after there exit on this earth.

The Expectation of the children education policy money at maturity from my company will psychologically add more years to the life of the parents by giving them peace of mind and little worry over the children school fees. The parents have bought in installment the principal amount or capital he requires for a child's level of education which shall be delivered in lump sum at the maturity date of the policy. We all know that the prices of goods in the market and the amount of money we pay as school fees in schools cannot bend in our favor and there is no separate market/ school for the poor or orphans. Hence there is need for parents to plan effectively in order to protect themselves and their families in case of eventuality.
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Life Assurance Policy Overview

The overview of the discussion life assurance is based on the presumption that people generally believe in savings, proper planning of life, sound and qualitative education and above all the need to protect our beloved ones financially. Life generally is in seasons. Seasons of harvest and seasons of famine. The Season of harvest always come before the seasons of famine. In the seasons of harvest everything seems to be working smoothly, normally as planned and numerous opportunities are bound everywhere, unlike in the seasons of famine where opportunities are not as much when compared with the season of harvest. The good thing is that the seasons of harvest if properly handled is meant to neutralize the impact of the seasons of famine
The Big Question now is what season of life are you in this stage of life? The Holy Bible in the book Ecclesiastes 11:4, says "If you wait until the wind and the weather are just right, you will never sow anything and never harvest anything". Vs 11;6 says "Do your sowing in the morning and in the evening, too. You never know whether it will all grow well, or whether one sowing will do better than the other". It is only with solid investments that we can enjoy a bumper harvest within our short life on earth. It is with the same solid investment that a widow and beloved ones left behind can bear the sudden turn around(death) with fortitude. There are no separate market for the retirees, widows, orphans and bill do not go on holiday in their favour. Hence we got to protect our mortgage homes with the right mortgage insurance, our lives with the right life assurance.
If creatures as little as the ants can gather for themselves during the dry season, whatever they would require or need in the rainy season, bearing in mind that there is a possibility of them being swept away if they come out to look for food during the rainy season. We as humans should as well carter for ourselves and loves one,protect our families financially whether we are there or not. One may argue that ones a man is dead, he does not care about what happens to the family. However this may be true, but the fact remains that life does not stop for families of the decease left behind. They still need a roof over their head, the children must grow and go to school. Thus it is better to help members of our families left behind in case of eventuality solves some family problems as a result of the exit of the bread winner than compounding problems for them.
Death is a reality and the only solution is to plan ahead for it, so that our loved ones will not cry forever. Even though we are dead we still have to live in the heart of our beloved ones. The amount of live assurance we have is the price tag we put on our future and it is the measure of the value we attach to our families. No one remains at the top forever but whatever one puts aside will always make one feel like being on top even when one is no more in active services. The Inability to provide for our families means that we are acting against the natural law of provision.
The word of GOD in 1st Timothy 5 Vs8 and 9, says "If anyone do not take care of their relatives,especially the members of their own family,they have denied the faith and are worse than unbeliever". Similarly, the Glorious Qua ran 13:11 says "Allah will not change the condition of people until they change it themselves". The need for insuring has been with us even at the time of Noah but people would not listen. Even the famous king Pharaoh's dream interpretation by Joseph which suggested enough grains to be stored during the seven (7)years of harvest to take care of the seven (7) seven years of famine is an act of insurance.

Finally, Seasons of harvest which is meant to neutralize the effect of the seasons of famine. Whatever money we make and invest wisely today can acts as a shock absorber and reserve for this season of famine/lack
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