5 questions to see if you buy the right life insurance
- by leormotrmo
- December 3, 2021
life insurance
Financial management
Life pension insurance is the most common insurance company product, and many people in Hong Kong buy it. However, some people who buy me with a buying mindset just choose a cheap insurance; some people spend thousands of dollars a month to buy insurance, but they can’t provide enough protection for their families; some people don’t fully consider high-premium products As a result, 僱員補償保險,the supply will fall short of demand in a few years, causing the policy to lapse.
Do you check your life insurance plan regularly?
With changes in life stages, such as getting married, having children, buying a home, or even getting a promotion, your financial responsibilities will also change. With inflation, the life insurance coverage you have purchased may no longer be sufficient; As you get older, such as entering retirement, completing your children's studies, or paying off your mortgage, the amount of insurance you need will also decrease, so we should regularly review life insurance needs.
You can browse the websites of different insurance companies to collect basic information before planning to apply for insurance, change insurance or add insurance. You can also consult different intermediaries to compare the characteristics of different products. When comparing policy terms and premiums, make sure you are comparing items that are equivalent. Simply comparing premiums is not necessarily a wise move, because the cheapest insurance policy may not provide the protection that best suits your needs. Also, please note that the return provided by the policy is expected, not guaranteed. Your insurance intermediary should clearly explain the details of the policy to you. If you don’t understand, let the intermediary explain clearly. At the same time, do your homework and read the policy documents carefully. Before signing the application documents for insurance companies, students must ensure that they can clearly understand the relevant legal provisions. If there are any problems, they should check with the insurance company or the intermediary during the cooling-off period of the policy, and keep a copy of the signed application and the relevant information. All country-related product sales management documents obtained by the intermediary. The insurance contract has legal effect. If there is any dispute over the terms of the policy in the future, the document you signed will become objective evidence.
New life insurance policy holders can cancel the policy and refund the premium during the cooling-off period. The cooling-off period begins when the insurance company delivers a life insurance policy to you or your representative or issues a notice (whichever is the earlier), and it lasts for 21 days.
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