Tuesday, June 17, 2008

Beware of Junk Insurance Policies

Beware their are a new range of junk insurance policies being sold. Income Protection / Disability policies that only cover you for 1 year on claim, non renewable after 5 years in place (drop out generally when you need them most, are older and may hae some health issues affecting your ability to get a new policy) and have a very limited definition of disablement. The premiums are only slightly less than a quality policy to pays you to age 65, is guaranteed renewable (as long as you pay the premiums the policies will be in place till age 65) and have much better definitions of disablement and can also pay a partial claim as top up income.

The devil is in the detail.

Don't pay good money for half baked protection.

Regards


Damian Ebzery B.Bus M.Bus AFPA ASA

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