General insurance Facts you need to know about insurance premium

Nite

Valued Contributor
All these facts outlined above are pretty important. The premium of the insurance is what these companies make use of when it's about ensuring coverage for all the liabilities linked to one policy. Premium may also be invested by these companies in securities for earning returns, and also covering the costs tied to the coverage.
 

sincerem

VIP Contributor
This is why it is good to spend money and get your insurance policy sorted properly and rightly out than hoarding the money and end up not getting what you should. So it is never a waste when one needs to get an insurance policy and the attention of an agent is drawn into it. It is for one good
You spoke well buddy. I can't hold an extra money and put in the bank when I know uncertainty is always available. I'll secure both my business she my well-being. Life is too short to think about only profit alone, we should think about what the future holds, either good or bad. With insurance we are safeguarded in both our business and well-being when challenges unbeknownst happens.
 

Wisdom01

Valued Contributor
Yeah getting a good agent doesn't take much provided one is using a reputable site to sort for one. The truth is that they are scams out there so one need to be very careful when getting an agent online but it is the easiest way of getting an agent. One just need to be careful when choosing especially it money will be involved
Yeah surely the person needs to take more precautions , because there are truly scam agents online ,and when browsing them online you need to check properly so you don't pick the wrong insurance agent even offline too and online too , know more about the thing you are doing first
 

Augusta

VIP Contributor
You could even help your self find a legit insurance company to give a try like checking on blogs , searching on social media , even if everyone seems not to be very helpful to you when trying to find the best insurance company that you would try and get protection against any form of risk you want to insure against
Yeah getting a good agent doesn't take much provided one is using a reputable site to sort for one. The truth is that they are scams out there so one need to be very careful when getting an agent online but it is the easiest way of getting an agent. One just need to be careful when choosing especially it money will be involved
 

Augusta

VIP Contributor
You're right bro, working with an insurance broker, or simply through the hands of an agent will guide us, provided it's legit. We shouldn't just go into insurance policy without knowing what matters most concerning the insurance policy we are going into, to avoid infringement or had I know issues in the future.
This is why it is good to spend money and get your insurance policy sorted properly and rightly out than hoarding the money and end up not getting what you should. So it is never a waste when one needs to get an insurance policy and the attention of an agent is drawn into it. It is for one good
 

sincerem

VIP Contributor
Sure this is why it is always of immense importance to know the working of a thing perfectly well before indulging in it. To get the perfect picture when it comes to insurance it is good to work with a broker or registered agent. They will be in a better place to help one understand everything better
You're right bro, working with an insurance broker, or simply through the hands of an agent will guide us, provided it's legit. We shouldn't just go into insurance policy without knowing what matters most concerning the insurance policy we are going into, to avoid infringement or had I know issues in the future.
 

Wisdom01

Valued Contributor
Yeah the watchword is get legit and be in business only with a legit company. No need wasting time with companies that are not registered company because you would just be throwing away your money. It can be really frustrating to note thst no one to help when you really need the help.
You could even help your self find a legit insurance company to give a try like checking on blogs , searching on social media , even if everyone seems not to be very helpful to you when trying to find the best insurance company that you would try and get protection against any form of risk you want to insure against
 

Augusta

VIP Contributor
Before we even venture into any insurance policy. We should always think of how to be paying the premium promptly. There are some people that started one insurance policy or the other but it was later canceled because they couldn't further the payment of the premium may be because of lack of money
The truth is that since this is business for insurance company they do not joke with their premium because non payment means no money for them. So it is pertinent to be sure that the money stated as premium is what one can afford to avoid avoidance of payment which can lead to cancellation
 

Augusta

VIP Contributor
Thanks for the information @Augusta. This are few recommended tips when it comes to premium policies of insurance to the insured. Anyone going into insurance should simply look up to what you said, in order to avoid making the mistakes that will lead to premium policy cancellation which brings loss to the insured.
Sure this is why it is always of immense importance to know the working of a thing perfectly well before indulging in it. To get the perfect picture when it comes to insurance it is good to work with a broker or registered agent. They will be in a better place to help one understand everything better
 

sincerem

VIP Contributor
Thanks for the information @Augusta. This are few recommended tips when it comes to premium policies of insurance to the insured. Anyone going into insurance should simply look up to what you said, in order to avoid making the mistakes that will lead to premium policy cancellation which brings loss to the insured.
 

btaliat

VIP Contributor
very good article you have written here and it is also well explanatory. Insurance premium as you have stated is the money the insurer is expected to pay it to the insurance company. it is actually very important to keep the contract going and promptly doing so will give you a whole lot of benefits when the need arises.
Before we even venture into any insurance policy. We should always think of how to be paying the premium promptly. There are some people that started one insurance policy or the other but it was later canceled because they couldn't further the payment of the premium may be because of lack of money
 

Augusta

VIP Contributor
Thanks for the enlightenment, I think before getting an insurance premium cover you definitely need to find possible ways and medium to buy from a legit source ,so you are not scammed, because there are so many insurance broker that are ready to recommend fake insurance company for you online too
Yeah the watchword is get legit and be in business only with a legit company. No need wasting time with companies that are not registered company because you would just be throwing away your money. It can be really frustrating to note thst no one to help when you really need the help.
 

Chibson

VIP Contributor
very good article you have written here and it is also well explanatory. Insurance premium as you have stated is the money the insurer is expected to pay it to the insurance company. it is actually very important to keep the contract going and promptly doing so will give you a whole lot of benefits when the need arises.
 

Mandy96

Valued Contributor
Insurance premium itself sounds more upgraded than the usual. Well this is very good and more educative because I would not believe something like this do exist in policy plans. I am very appreciative to know about this. It is a very great opportunity to know about this. I just learnt more about it
 

Augusta

VIP Contributor
There are salient facts you need to know about insurance premium. There will be outline below

  • Insurance premium is the money an individual or a business owner is expected to pay for an insurance policy contract.
  • The premium paid is an income to the insurance company and at the same time is a liability. This simply means that the insurance company is owing to the insured coverage which must be fulfilled when due.
  • When once an insured defaults in the payment of premium at any point in time, it leads to the cancellation of the policy
  • Premium can be paid monthly, quarterly, or semi-annually and it depended on the policy on the ground
  • To find affordable premiums you might need to shop around.
What do you think?
 

Wisdom01

Valued Contributor
Thanks for the enlightenment, I think before getting an insurance premium cover you definitely need to find possible ways and medium to buy from a legit source ,so you are not scammed, because there are so many insurance broker that are ready to recommend fake insurance company for you online too
 

Augusta

VIP Contributor
Lol I perfectly understands your stance on not wanting to indulge in insurance especially when it has to do with making claims and it takes almost forever to pull through but paying your premium they want it done almost in.a breeze. But for some good companies that are reputable it might just worth it
 

btaliat

VIP Contributor
I think this is one of the reasons people especially those in the middle class orthe average Joe's shy away from taking part in insurance since it sometimes looks like it going to be an unproductive venture indulging insurance but all the same if they can be of help in times of risk and losses then it good
To amaze you, I don't like insurance policy and I don't wish to do it. The only one I want to do is the business insurance. The reason is that why going for health insurance when your health is in your hands. You can be taking café of yourself by eating good food, sleep and exercise to prevent spending money on one insurance policy
 

Augusta

VIP Contributor
Premium is money paid by insurers every month or yearly but majority of insurance premium are paid yearly except the one savings which is paid every month,it is like you investing for sometime mostly from five years to twenty years and within the period of savings you are entitled to get 50% of your savings and still continues.
Yeah when once you sign the insurance contract with your insurer or insurance company you need to start paying your premium as when due because if one default in payment then there will be a cancellation. So one needs to be sure that one is ready to carry out what it entails till the last day
 

Augusta

VIP Contributor
This will let some people argue against insurance companies to be a scam. They always complain that insurance companies like to go after insurance policy that has lesser chance of happening in order to avoid paying premiums. Aside this, they will need to take eternity to investigate the cause of the even before paying out the compensation.
I think this is one of the reasons people especially those in the middle class orthe average Joe's shy away from taking part in insurance since it sometimes looks like it going to be an unproductive venture indulging insurance but all the same if they can be of help in times of risk and losses then it good
 
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