| Insurance is a confusing business. Odd | | | | large amount of debt that will be paid off by the |
| terminology, fine print and high pressure tactics | | | | end of the policy's term. |
| may keep you from really researching and | | | | Whole life insurance is permanent insurance that |
| comparing your options. While quick insurance | | | | remains in effect as long as the premiums are up |
| shopping may get you a policy, it probably wont | | | | to date. The policy does not need to be renewed |
| get you the right insurance policy. | | | | and the premiums remain the same throughout |
| There are many types of insurance out there and | | | | the life of the policy. It provides your beneficiaries |
| countless policies offered for each insurance type. | | | | a lump sum at your death regardless of when |
| Educating yourself about how the insurance | | | | that occurs. |
| system works should be your first step before | | | | Universal life insurance cover is structured the |
| choosing a policy. | | | | same way as whole life in that it is permanent |
| It may surprise you to know that 65% of South | | | | insurance with level premiums. In addition, it adds |
| Africans have no auto insurance at all. When we | | | | provides financial products such as a savings plan, |
| take the incidents of accidents and road injuries, | | | | investments and the ability to add a person to |
| this shocks us. | | | | the policy. It is the most expensive life insurance |
| Auto cover comes in three forms. Third party is | | | | option due to its flexibility. |
| the minimum coverage and protects you if you | | | | Your life changes and it is always beneficial to |
| injure someone or damage someone else's | | | | check on the current status of your life insurance |
| property in an auto accident. Third Party Fire and | | | | to make sure it is still meeting your needs. |
| Theft includes cover provided under Third Party | | | | Your options for homeowners insurance have |
| and adds protection for damage caused by fire, | | | | expanded thanks to the National Credit Act. |
| theft or attempted theft. Comprehensive | | | | Previously, borrowers had to purchase their cover |
| coverage adds to this by providing protection for | | | | from the bank that financed their loan. Now, you |
| your vehicle in an accident that is your fault. | | | | can shop and choose the cover that fits your |
| To ensure that you aren't paying too much for | | | | needs and budget. You'll be required to cede the |
| expensive auto insurance, be sure to compare | | | | policy to your lender so that your policy can pay |
| prices and quotes. To reduce your costs, try | | | | your bank directly. |
| negotiating with the insurance companies for a | | | | When shopping for insurance, remember the old |
| lower rate. Also, think about asking for higher | | | | adage that the cheapest policy isn't always the |
| excesses, as well as increasing security measures | | | | best. For example, a bicycle costs less than a car |
| to further reduce your premiums. | | | | but it will not serve the same transportation |
| Term life insurance is the least expensive option | | | | needs. Hence, you need to find an affordable |
| and provides cover for a specified amount of | | | | insurance policy that meets your particular |
| time or can be linked to specific debt obligations. | | | | coverage concerns. |
| Term life is beneficial for families that may have a | | | | |