Wednesday, October 31, 2012

Are we as insured as we should be?

Life insurance is a pretty essential thing to have if you have a mortgage - otherwise it could mean that the money left owing on the property would lead to the house being taken back by the bank. Which in terms of scenarios is far from ideal - unless, perhaps, you live alone without dependants and aren't minded about the value being transferred back.

And in an article in Health Insurance magazine this week, there's some interesting info on just how well (or otherwise) insured we are generally. Apparently - according to a study that's been carried out - while a many of us have a mortgage that is still being paid off, about a tenth of people don't have life insurance which would mean that if they died then they could be leaving their family without a home.

In terms of insurance it's sometimes the case that people will also often forget which financial products they have - and sometimes what the cover includes.For instance the report in the news over the summer that some people were going on holiday without dental insurance while others were unsure if their policy covered dental treatment. In terms of private medical insurance there are different levels of cover available, so if you're looking at getting life assurance or a pension for the first time it's also well worth checking out the different levels of health coverage available. Like life assurance, medical cover is affordable and you can choose the things you require - meaning peace of mind should you require any of the treatment you're eligible for on the policy.

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