Health
insurance, car insurance, travel insurance, etcetera. With so many insurance
products available, choosing one is quite a burden today. However, if you
should compare between two or more products, here are a few things I look out
for in choosing insurance for myself.
1.
What
Do You Need?
When I was
still in a business-processing outsourcing company, I assessed the risks in the
job I’m taking. It can go on a day or night shift, depending on the company
priorities. In short, there was much to do with so little time to rest. While
the company insurance provided for my possible sicknesses and accidents, I knew
it was not enough. I had an insurance that would protect me from serious
illnesses caused by the toxic workplace. Assess what you need, and you will get
what you pay for.
2.
Know
Your Financial Capability
Insurance
take huge chunks of money off your budget, so be sure that you know your
financial capability. Financial planners may tell you that your budget could accommodate
the monthly, quarterly or annual repayments, but it is up to you to know where
your money is going, and how it would flow into your insurance investments.
3.
Which
One Helps You More?
In terms of
interest rates, it would be clear to get the more affordable one, but it is
also a bad idea to invest in something that will not deliver. Some insurance
are more affordable for a reason, and they may have hidden costs as well. A
higher-premium insurance might seem expensive, but it can certainly fit the
glove of your lifestyle, which makes it a better choice than the other.
