Buying insurance is an essential aspect of financial planning, but understanding the products and purchasing the right policy can be a delicate process. So, how do you make sense of all the choices that are available?
Most people depend on the knowledge and capability of their insurance broker or sales representative to help them choose the appropriate course of action. Even so, there are ways and means of ensuring you find the policy that works, without having to look for additional advice or second opinions.
Of course, with FRANK.NET – who offer life cover policies that pay up to R10 million to the beneficiaries of your choice, when you die – you don’t have to experience the added worry of getting outsider opinions. All of our products are straightforward and easy to understand, allowing you to secure your loved ones’ finances without cause to be stressed.
Contact FRANK.NET if you’re interested in buying life insurance cover – or even for a free quote – and be sure to read on to find out more about choosing the right policy.
5 tips to help you choose a life insurance policy that’s right for you
Read the below tips to find out more about buying the appropriate life cover plan:
- Determine your requirements – Who understands your financial circumstances better than you? Exactly, so why let someone else tell you how much protection you need? You can get a rough estimate of your insurance needs by adding debt, funeral expenses and six months to a year of income replacement together. Remember, you don’t always need an excessive policy, just one that’s appropriate for your family’s needs.
- Realise that life cover is for security, not investment – Life insurance policies pay out to beneficiaries when you die. Only whole life policies offer a savings element. When buying regular cover, one should look to invest savings elsewhere.
- Pry – Before buying a life insurance policy, make sure that you know it like the back of your hand. How long are premiums guaranteed for? What are the exclusions and stipulations? Don’t be afraid to ask questions.
- Compare products – Certain cover policies may not have the same name, but that doesn’t mean they offer equal aspects. When you price shop, make sure you compare similar products so that you get the most value for your money.
- Stick to the basics – Strive to make things as uncomplicated as possible. Because life insurance is meant to protect your family and loved ones, it should be based on their requirements. Anything else is can be considered supplementary, and shouldn’t be made priority.
You don’t get more straightforward than life cover from FRANK.NET. Contact them for a free life insurance quote online!
