Insurance is like a safety net that catches us when we fall. However, making sure our premiums are paid for and up to date can feel like a chore, until we need our insurer to swoop in and save the day. So it is important to take every precaution and not skip steps when choosing an insurance company to take care of you during your difficult times of loss.
Research
In order to find the right insurance company, conducting thorough research is crucial. It’s essential to evaluate your own needs and financial situation to determine what coverage is necessary. Identifying the specific risks, you need protection from can aid in pinpointing the perfect insurer. For example, suppose you belong to a co-operative and are searching for an affordable funeral policy for 30 members – Orchard Insurance Group has just the product to suit your specific needs.
Shopping around for insurance should be just like shopping for a good jacket. You need to get the perfect fit and colour, and it should cover you completely and in a satisfactory manner when the time comes. Settling for any jacket or insurer is not a good idea because you might be left exposed at your most vulnerable of moments. So take the time to understand what you are being offered, at what cost and if it is the best offer you could get.
Be Budget Wise
Whether you’re a seasoned accountant or a busy professional, budgeting is integral to your financial wellbeing. So, take a moment to reflect on your monthly expenditures and identify areas where you can make some changes. Specifically, be cautious when setting aside funds for insurance premiums. In many sad but common instances you find that premiums are missed, the grace period passes and when it’s time to make a claim, the insurer is unable to pay out. To avoid falling victim to this common yet avoidable mistake; it’s best to start keeping track your finances now.
The relationship between insurers and their clients beneficiaries is based on trust, and when that trust is broken, it can lead to devastating consequences for both parties involved. As stated by Shawn Plummer, CEO of the Annuity Expert, it’s also essential to select an insurer that has a solid financial standing to ensure stability in the long run. Hence when considering how much to spend, it is equally important to consider who to spend on.
Customer Service is Key
As you search for the perfect insurance policy, don’t forget to pay attention to the level of customer service provided by each company. Take a look at their social media presence, the details available on their website, the friendliness and availability of their customer service representatives – these are all key indicators of how efficiently they’ll handle your claims when the time comes.
The Financial Services Regulatory Authority (FSRA) instructed that all funeral claims be settled within 24 hours after all necessary documents have been submitted. This is according to Circular No.1 released by FSRA on January 8 2021. So, when choosing an insurance company, it’s important to pick one that not only values you as a customer but also respects the regulations meant to safeguard you as a customer. Don’t settle for any less. Your satisfaction and peace of mind should always be top priority.
