Life insurance Why It's Important To Know Your Insurance Policy.

There are things in life that we have no control over. Death is one. But unless one is planning a suicide, the where, what and how of our life's end are things we simply have no prior of or power over.

The same is true for accidents and illness we don't know when they will hit us of these three risk, however, death is more devastating as its effect on our family's future is permanent.

Does this mean therefore that we are completely powerless to deal with this eventuality? Not really. Granted we have no idea when death will befall us, there is something we can do to soften it's blow.

We can plan. We can make sure that, if and when death happens, we are ready. This in essence is what life insurance is all about. It's our positive response to negative risk.

For this response to be effective, however,we must be sure it is the right one. Simply put, our life insurance policy can only guarantee our beneficiary's future as far as we allow it to.

We need to make sure therefore that we purchase one that is well suited to our needs. More importantly, we need to understand the provisions of our policy.
 

Nite

Valued Contributor
It is very important to know your insurance policy before buying. Insurance policy is a legal contract between an insurance policy provider and a person or entity being insured, therefore understanding it helps one to verify that their needs are met. Many insureds buy a policy without understanding the main factors, and then end up suffering later on. Understanding and reading the entire policy helps to avoid problems and disagreements in the event of a loss.
 

Good luck

Verified member
You should know your insurance policy to be able to follow the plan and the process that it entails.there is a premium for every insurance policy you do and there is also terms and conditions to follow and if you don't know your policy there is no way you will a good idea of how such policy is being run or done.
 
D

Deleted member 28127

Guest
Most of the insurance does not practice their charts very well means what is described in the contract between you and the insurance company like policy and terms of services isn't applied most of the time. So even you know contract details this will not change anything.
 

Abigael

Valued Contributor
It is very wise for one to have a life insurance policy. It is very important for securing the future of your beneficiaries, especially if you are the breadwinner to the family. Your death will cause so much financial devastation to those you will leave behind. Without a life insurance policy, even your funeral will cause so much trouble to the family members. But if you have saved earlier, they will have no trouble with the expenses of burying you. Another thing is that if you leave children behind that depended on you for school fees and other basic needs, they will continue getting those need when you die.
 
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