Life insurance can be one of the most important financial decisions in your life. Why? If an accident happens to you, then the benefit from the insurance policy can be a great financial support for you or your loved ones. How to choose the best life insurance? I am suggesting.
Are you wondering why you need life insurance? Is it worth spending a few dozen zlotys a month on a premium, if you can’t really predict whether you will use what you pay for? And maybe it is worth, although financially secure your loved ones? These questions show that life insurance is not such a simple product as it may seem.
From a psychological point of view, it is much easier for us to imagine a house fire, which is why we decide to insure it. It is similar in the case of traveling abroad, when we use additional tourist insurance. It is much more difficult to decide to take out a life insurance policy. We suppress the thought that something may happen to us. And anything can happen …
What is life insurance?
The basic purpose of life insurance is to protect the health and life of the insured. Under the agreed conditions of the life insurance policy, the insurer guarantees you payment of benefits in the event of a fatal accident, reaching a certain age or suffering from health damage as a result of an accident. Life insurance belongs to the group of personal insurance.
What does life insurance cover?
The most popular events that life insurance covers include:
death of the insured,
inability to work or work independently due to an accident.
Life insurance price – what influences it?
How much truth is there to say that the higher the price, the better the quality? Unfortunately not much. If I agree that the price of the policy affects the scope of protection, this does not mean that a good life policy must be expensive.
The amount of your insurance premium depends on what you expect from the insurance. It is obvious that the preferences of a family of four have different preferences, while a different single or a person practicing competitive sports has different preferences.
Another point is the purpose of your insurance policy. As I mentioned earlier, you can protect your loved ones in the event of your death, and you can also use insurance as a form of saving.
So how much does the life insurance cost? There is no clear answer to this question because many factors influence the price of insurance. The most important are:
– INSURANCE AMOUNT
The biggest impact on your life insurance cost is how much benefit you expect to pay. The higher the amount, the more expensive the insurance premium.
– SELECTED SCOPE OF PROTECTION
If you choose death insurance only, the cost will be less than for a broader coverage, which also includes unfortunate accidents.
– PERIOD OF INSURANCE
You can insure yourself for a year (and this is usually the minimum period), as well as for an indefinite period and for life. Depending on the contract, you pay the premium once or regularly. The longer the period, the higher the cost.
– THE INSURED AGE
The older you are, the more you will pay. This is because the risk of getting sick or dying increases with age.
– INSURED HEALTH
If you have a chronic disease or are genetically burdened with the risk of serious illness, you will pay more.
– PROFESSION PERFORMED
Many professions are classified as at higher risk, e.g. a miner, fireman or police officer. People who perform them must take into account more expensive insurance.
– PERFORMANCE SPORTING
If you train professionally, you are at risk of injury. Therefore, you will pay more for insurance.
Insurance policy – choose the one with which you will be satisfied
Have you decided to take out a life insurance policy? However, you are wondering what life insurance is the best? I will tell you that good insurance is one that you can adjust to your needs. Do not choose the first better offer, but compare what price conditions are offered by different companies as part of the same insurance sum or what they offer as part of the same amount of premium. Only in this way will you make the best choice.