Life happens. But with the right type of insurance you can protect your possessions and create a financial safety net for your family.
Think about what’s important to you. Perhaps it’s your car. Maybe it’s your laptop. Could you afford to replace them immediately if they had to be lost or stolen? If the answer is no, then you’re going to want insurance. Now think about what you’d like to do in the future. If you have children, having enough money to pay for their education is a must. But what would happen if you had to pass away? Again, this is an instance where you’re going to want insurance – to help ensure the financial protection of the people you love.
Simply put, insurance companies play a critical role in safeguarding your assets and finances through various types of insurance coverage. Generally, these can be divided into two types – short-term and long-term insurance – and to enjoy maximum peace of mind, you’re probably going to want to invest in both.
What Is Short-Term Insurance?
Generally, short-term insurance, covers your possessions. Examples of short term-insurance would be car insurance, home insurance and so on. As the name suggests, short-term insurance covers you for a set amount of time. You’d pay a monthly premium and in return, your insurance policy will cover your possessions, protecting you from theft, damage and a loss, depending on the terms in your contract. Still, not all insurance is created equally so it’s a good idea to always shop around to get the best quote, the right amount of coverage and brilliant benefits.
As an example, if you had car insurance with MiWay, you’d be offered an affordable insurance premium to suit your budget and can choose the value for which you’d like to insure your vehicle, You’d also get to enjoy a hassle-free claims process via their App as well as 24-hour roadside emergency assistance and the use of WeDrive, their take-me-home driver service.
What Is Long-Term Insurance?
Long-term insurance is great way to get peace of mind regarding big life-altering events. Examples of long-term insurance include life insurance, disability cover and funeral policies. Typically, you’d pay a monthly premium to an insurer and receive a lump sum if or when the event you are insured against happens.
To use life insurance as an example, if you had a life insurance policy, you could nominate a beneficiary to receive a lump sum pay out in the event of your passing. This way, even if you weren’t around, you’d be able to ensure your children could afford to pay for that education we mentioned. In short, it’s an invaluable tool to help protect your finances and create a financial safety net for your family. Again, it’s important to shop around to find an insurer that can provide the best amount of cover. For the record, MiWayLife’s 4-in-1 policy includes funeral cover for your family members and a terminal illness benefit all for one low monthly premium. Why not get a quick online quote today?
Did you know you can apply for a will online with MiWayLife? You can also take out life cover with us online in a few simple steps. No calls and no agents! Make sure to take care of those you love today by buying MiWayLife cover online.
