General insurance Facts you need to know about insurance premium

[Good luck]

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.

 

[btaliat]

You are right on that mate, this is why the insurance company are always about policies that have very little chance of happening. They don't want to pay for compensation so they opt for those that might rarely happens. So yeah if it never happens they premium no matter the amount is gone

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.

 

[Augusta]

People that are working online may not need instance policy for their business but that does not mean they don't need insurance policy. There are many insurance policies that they can still opt for apart from the business insurance, they can as well go for health insurance, life insurance and even auto insurance and will still he paying premiums.

You are right I didn't see your comment before leaving mine above. The truth is that there are different insurance policies that can suit different people with their needs. So if one is really interested it is to go for one that will be of utmost benefit. This is why a broker is needed

 

[Augusta]

Well I think this really concerned a lot of people with business but people who are working online may not really have to insure their business because it is not the physical business that can be seen. People who are working on line should be looking for an opportunity to pay tax to the government but government does not make an opportunity for that.

I think I will have to agree with you I think they wouldn't really need to insure their online business since it not as if they can encounter for incident or theft from stealing by customers. But there are other policies they can indulge in like health or life insurance. So they still need insurance

 

[Augusta]

Thanks for this insightful post. Let me add a fact again. Paying premium doesn't mean the insured person will be automatically eligible to be compensated. The premium paid is only for the case of in casity when event occurs, if the even doesn't occur, the premium will not be gotten.

You are right on that mate, this is why the insurance company are always about policies that have very little chance of happening. They don't want to pay for compensation so they opt for those that might rarely happens. So yeah if it never happens they premium no matter the amount is gone

 

[btaliat]

Well I think this really concerned a lot of people with business but people who are working online may not really have to insure their business because it is not the physical business that can be seen. People who are working on line should be looking for an opportunity to pay tax to the government but government does not make an opportunity for that.

People that are working online may not need instance policy for their business but that does not mean they don't need insurance policy. There are many insurance policies that they can still opt for apart from the business insurance, they can as well go for health insurance, life insurance and even auto insurance and will still he paying premiums.

 

[Sotherefore]

Well I think this really concerned a lot of people with business but people who are working online may not really have to insure their business because it is not the physical business that can be seen. People who are working on line should be looking for an opportunity to pay tax to the government but government does not make an opportunity for that.

 

[btaliat]

Thanks for this insightful post. Let me add a fact again. Paying premium doesn't mean the insured person will be automatically eligible to be compensated. The premium paid is only for the case of in casity when event occurs, if the even doesn't occur, the premium will not be gotten.