Overlooking or procrastinating over insurance is something many of us are guilty of, but it represents a critical safety net for life’s unexpected, unpleasant moments few of us can afford to ignore. Spending countless hours dwelling on the worst things that can happen to us is not high on most people’s ‘to-do’ list, but with modern technology at our fingertips, the requisite focus, and expert guidance and information, the task is much easier than it may appear.
This article examines some underused types of TAL insurance that can protect us in times of need and how we can use modern technology to simplify and de-stress the experience.
Do I Really Need Insurance?
The simple answer is that unless you are independently wealthy to the point where you can afford to maintain your lifestyle and standard of living indefinitely if things go wrong, you need insurance to protect yourself and your loved ones. Evaluating which kinds of policies to purchase can be intimidating, but some highly recommendable, often underestimated ones include:
- Total and permanent disability insurance—Much-needed practical and financial assistance for policyholders who unluckily find themselves permanently disabled. The extra associated costs can be devastatingly high, and TPD insurance is an invaluable lifeline.
- Critical illness insurance—Comprehensive cover for policyholders who experience long-term illnesses that prevent them from working and bring additional expenses.
- Life insurance—A must-have policy for individuals with financial dependents to protect and provide for them if the worst happens.
- Income protection insurance—A practical safety net for adults who cannot work and need financial assistance to maintain their standard of living.
How Modern Technology Can Help Source and Research Insurance Quotes
We are immensely fortunate to live in an age when serious amounts of time and effort are no longer required to acquire appropriate insurance quotes. The power of computers connected to the Internet means we have everything we need to source, research, and compare insurance policies from the comfort of home. A practical, efficient way to acquire insurance quotes is as follows:
- Determine the type of insurance you need
- Give yourself enough time, focus, and work systematically
- Locate the necessary documents
- Research online comparison sites and select one
- Add the requested information to source quotes
- Analyse each offered policy and remove unwanted ones
- If the site has a side-by-side feature, use it to compare your shortlisted quotes
- Highlight any differences and keep notes separately
- When finished, choose another comparison site and repeat the process
- When you have a handful of potentials, contact each provider by telephone to ask questions and clarify the finer details. This phone call gives you a chance to assess their service levels, and tempting telephone deals are sometimes offered to attract your business.
Purchasing Insurance: Why it Matters
The future is uncertain, but there are things we can do to maximise our chances of it being long-lasting, fruitful, and enjoyable. Whether we are spending time exercising and eating healthily to stay fit, working hard to secure our finances, or purchasing insurance to protect ourselves and our loved ones, we have more control than we might imagine.
