Obtaining insurance is one of the living conditions that you must study very early in your career, especially because you can still work and earn money. In addition to the ability to pay more for insurance, young people also pay less (forsikringsselskap norge). This is one of the principles of insurance. Because young people are less likely to die, they have lower rates than older people.
The insurance will protect you and your family financially in the future. Depending on the type of insurance you choose to obtain insurance, the insurance can also cover your health problems, retirement, and even your death and burial.
But while it is important that we protect ourselves from any unexpected possibility, some people are still reluctant to buy insurance and prefer that their companies do it for them. As with legal issues, this mumbo jumbo insurance tends to confuse people and sometimes intimidate them.
Here are some of the questions he asked a lot about insurance.
What types of insurance?
There are two main types of insurance. Life and no- life insurance. As the name implies, life insurance protects a person’s family if something happens to them. Upon the death of the insured, the insured’s money will be returned to the beneficiary of their choice.
Non-life insurance is the insurance that protects the property. In this category, there are several different types (Personforsikring). There are car insurance, which protects cars from debris in the event of an accident, property insurance, which protects property, especially homes, against fires and other forms of destruction, deposit insurance, which most banks must protect depositors from losing money in case of financial difficulties, and health insurance, which helps cover medical expenses and hospitals. Among the various insurances not related to life, the most popular are health insurance and car insurance.
Some insurances also foresee the future. Some insurance plans are retirement and death plans, which cover funeral expenses.
What is the difference between the premium and the insured amount?
The premium indicates how much you have to pay each year for insurance. Some insurance companies also offer installment payments to monthly installments to help their clients. The amount insured is the amount you have insured. For example, if the insured amount in your policy is $ 500,000, the beneficiary will receive $ 500,000 when you die.
What do you mean by double compensation?
Some insurance policies provide an occasional clause that would double the face value in case of a declaration of accidental death. This is done to protect the insured family in case of premature death. The double compensation means that the insured amount will double when the death is accidental.
Is the beneficiary still the legal spouse?
No, contrary to public opinion, the husband is not always the beneficiary. It depends on the person who chooses the beneficiary (Reiseforsikring). It can be any member of the family as long as the insurance department is established. If in the case in question, the children are designated as beneficiaries and have not reached the age of legal, a guardian will be appointed to assume control of the funds.