Insurance 

4 Things to Consider Before Buying a Term Insurance Plan

Here are 4 considerations when buying a term plan. Make sure you leave nothing to chance! 1. Establish the cover amount To make a decision on the amount of cover you need, you must assess and consider aspects such as: Your age, Your financial responsibilities, Your family’s future financial requirements, Your basic expenses based on your lifestyle habits, The loans you are servicing today, and Whether you are accounting for inflation and rising costs. Ideally.. 2. Determine the policy period     a) Based on your age – Primarily, you can determine your pulicy…

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Insurance 

Why do you need car insurance?

Having car insurance is a legal requirement and with the right level of cover, provides financial protection in the event of your vehicle being damaged. It will also provide cover for injuries to other drivers, passengers or pedestrians, and their property. Accidents happen, so it’s reassuring to know that you’re covered financially if you’re involved in one. Why is car insurance necessary? Having car insurance is essential because it covers your expenses in the event of vehicle damage or injuries to other drivers, passengers or pedestrians. All motorists must be…

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Insurance 

Advantages and Disadvantages of Insurance

Ever since private companies could solicit insurance policies, there has been a steep growth in the insurance sector. With more people realising its importance, the future looks promising for the insurance industry. Often it is being reiterated by financial experts that an insurance policy is not an investment. However, many fail to understand this concept and continue to use it as investment instrument to make hefty corpus. If that was the intention, it could be a sheer disappointment as insurance needs to be treated differently. Just like a coin has…

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