What are the true benefits of Insurance policies?

June 16, 2020 1:04 pm

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It seems that whatever we buy these days is covered by an Insurance Policy!  From Vacuum cleaners, washing machines, cars, jewellery and especially our Homes we are met with requests to invest our hard-earned money into taking out an Insurance Policy.  Appliances like Tumble dryers and Fridge-freezers are covered against breakdowns and can often be repaired or even replaced by the Retailer if you have an Insurance Policy in place.

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Most of us at some time or another have decided that we will take out this type of policy but what about our most precious and valuable asset?  Our Lives, how many of us have thought about investing in a Life assurance Policy, provided by companies such as https://www.cavendishonline.co.uk/life-assurance.  Providing immediate financial security, reducing the impact of losing a loved one by paying for any Funeral costs, paying off any debts owed by the deceased and mostly giving you Peace of Mind that family left behind are taken care of.

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There are different types of policies to cover any personal requirement and some even offer “Critical Illness” cover that helps with loss of earnings if you become terminally ill.  An Insurance of any kind is usually paid for by you, in small monetary increments over a long period of time and the benefits are that should anything unexpected happen you will receive a lump sum of money to cover any financial necessity.  This helps you to continue to enjoy the standard of life you are accustomed to or to provide for your loved ones left behind when you pass away.