Budgets are tight, but keep your insurance; it is even more necessary during difficult economic times.

 

Insurance is not a luxury to have when times are good and abandoned when circumstances are tough. In fact, it is best to maintain your insurance current, whether it is short-term or long-term, because an unexpected death or any other life-threatening event can hit you hard if you are unprepared in these difficult economic times.

 

“Let me keep my life insurance just in case I die,” you could reason, “but let me cancel my car or medical insurance.” It’s possible I won’t need it.”

 

This may appear to be the case, but why not consider other options for maintaining your insurance coverage without cancelling any of your policies?

 

Most people find medical, home, and car insurance to be a tricky issue. Do you want to pay a premium to be insured for a life event that may or may not occur when you are struggling to make ends meet? This is a difficult question to answer.

 

Things that we say will never happen frequently do so when we least expect them. When you drive your car, you don’t constantly entertain the probability of being in an accident. What will you do if something bad happens to you and you don’t have insurance?

 

Health insurance should not be compromised. Keep your medical aid current, but ask your consultant if your benefits may be adjusted or if you can switch to a different plan to save some money.

 

You cannot afford to drop your life insurance if keeping your family together and financially secure is a priority for you. Life insurance must be budgeted for and purchased at a reasonable cost. Instead of cancelling, consider what your present payments will signify in the future.

 

Speak with your insurance and ask for assistance; you might be able to come up with a better way to pay. If you can afford even a little amount of coverage right now, do so, and consider increasing it as the economy improves.

 

Many individuals are unaware that insurers are more flexible than they think, and a difficult economic period can be the ideal time to review our policies and rethink what we really need to be covered for.

 

Speak with one of our independent consultants to help you understand your insurance solutions and products better. Call: 011 768 6406 | WhatsApp: 061 351 6820 | Email: info@moso.co.za