Author: Randall Morris

Reasons You Should Get Yourself A Life Insurance Policy

Most young people make the mistake of thinking that life insurance is something that they are only going to need when they are old. However, this is not the case. Deciding to buy yourself life insurance is one of the most important decisions that you could ever make Leonard Financial of Middletown This is because regardless of the amount of money that you take home, no one is really certain about what the future holds as well as what may end up happening then. If you are the sole breadwinner of your family and you die suddenly, then things may become tough for them. They may end up having a very difficult time trying to pay up debts, expenses around the house and even something as simple as trying to maintain their standard of living.

Therefore, the least you can do for your family is to go ahead and take a life insurance policy that is going to work best and come in handy for your family. Other reasons as to why you should get such a policy include:

  • It is a way of handling debts

You do not want to leave your family with the financial burden of having to deal with debts when you are long gone. Any debts that are outstanding like a personal loan, a home loan, an auto loan or any other loan that you may have may end up been taken care of by the life insurance policy that you are going to take.

  • You will be looking after your loved ones

This is one of the most important things that you can be able to do by making the decision of taking a life insurance policy If you are the bread winner, and the only one for that matter, then it is clear that your family is going to be depending on you throughout. You do not want to leave your spouse with the financial burden of having to take care of everything on their own. Having a life insurance policy is a way of ensuring that your spouse will have all the financial security that he or she will need to move on with life.

  • It is a way of supplementing the retirement goals that you may have

Every single person would want their retirement savings to be able to last them as long as they are alive. When you have life insurance, you can at least be sure that you are going to be having a stream of income that is going to be coming in every single month. Think of it as some kind of pension plan that will benefit you in the future or your loved ones.

How Singaporians Travel In Style

AUTO INSURANCE

Auto insurance can be defined as a contractual agreement between an individual and an insurance company; that aims at protecting the individual from financial loss in case of an accident or theft. The insuring company commits to pay your losses as outlined in the insurance policy, in exchange for your payment of a premium. Individuals applying for an AXA SG insurance policy need to obtain a quote: a quote is an estimate of the premium for the insurance coverage selected and the details entered.

This type of insurance covers for:

  • Property – damage to or theft of the car
  • Liability – individual’s legal responsibility to other parties for bodily harm or damaged property
  • Medical –treating injuries, rehabilitation and in some cases loss of wages and funeral budget

To allow for customization of coverage amounts to suit individual’s exact needs and budget, auto insurance cover policies are priced individually. As a general rule these policies are issued at periods of six-month or one-year and are also renewable. The SG traveller insurance options provider will send a notification to renew your policy or pay your premium.

An auto policy covers an individual and their family members on the policy, whether driving your car or someone’s car. It also covers someone driving your car with your permission. A personal auto policy only covers personal driving, but does not provide coverage if the car is used for commercial purposes.

After covering for damages caused by your car, it’s essential to cover your own car for damages. The following covers can be considered:

  • Collision – this reimburses you for damages to the car that occurs as a result of collision with another vehicle or object when you are at fault. It also covers for damage from potholes or in case of your car rolling.
  • Comprehensive – covers against theft and damages resulting from an incident such as fire, vandalism, flooding, falling rocks or trees and hail.
  • Glass coverage – covers the wind shield from any damage. This policy may include no-deductible glass coverage like side windows, glass sun roofs and rear windows. Under this policy you can also purchase the supplemental glass coverage.
  • Towing – this cover pays for a tow if the vehicle cannot be driven after being involved in an incident.
  • Uninsured motorist coverage – this provides cover for medical and property damage if you get involved in an accident with a motorist who is not insured or under insured.

It is advisable that before purchasing an insurance policy, you need to research about the insurance provider you intend to contact. This will enable you to make sure that the policy you pick covers your vehicle at all the times. You should also investigate on their financial strength as this will directly impact on their ability to pay your claims and the time the take to pay.