Is it possible to save on life insurance or on insurance upon accident? It is quite possible. If you know some features of work of the insurance companies you can make the insurance the most effective and inexpensive. What discounts can be received under the insurance? Discounts on payment of policies of assurance of a […]
Is it possible to save on life insurance or on insurance upon accident? It is quite possible. If you know some features of work of the insurance companies you can make the insurance the most effective and inexpensive.
What discounts can be received under the insurance?
Discounts on payment of policies of assurance of a life and insurance upon accident are not especially extended yet. Usual practice of the discount from the company does not practise because this market is young enough. When market coverage becomes more, that, I think, the competition between sellers will amplify, accordingly, such marketing tools as discounts and bonuses will be used more widely.
Nevertheless discounts for these kinds of insurance can be received from the agent interested in attraction of the client. The above there will be a payment for insurance (the insurance award) under your contract, there will be commission fee of the agent more, it is easier to receive it from the discount, and its size will be more serious.
For the agent it is the most favourable to sell a mix – memory life insurance plus the additional inexpensive insurance from accident. For the client it makes sense as though the life policy of assurance protects from accidents but insurance upon accident turns out more favourable at hospitalisation.
In some insurance companies constant clients can agree about the discount «for break-even». As any insurance company aspires to keep available clients if you prolong the contract of insurance upon accident on which it was not made any insurance payments, it is possible to count on the discount in 5 – 10 % of cost of the policy of assurance. The same principle operates in sphere of voluntary medical insurance.
It is favourable to get some insurance at once, either on yourself or on members of the family, and the kind of insurance has no value. If you already have the operating insurance contracts got in the same company, it also can form the basis for the discount.
Each company on life insurance defines discounts independently and very individuallys. At life insurance clients can count on the discount at a high regular payment.
Expenses under the insurance in certain degree depend on periodicity of payment. Choosing monthly or quarterly payment at insurance registration you pay for life insurance a little more than if payments of times in half a year or once a year paid. The difference will make approximately 3–7 % from a total sum of cost of the insurance.
The same principle is fair and for insurance upon accident. The main difference consists that in this case it will be more favourable to pay cost of the policy of assurance at a time as standard term of such insurance – 1 year.
The franchise
One of ways to save on insurance cost quite often is the franchise. This term means that in the established limits the part of the damage put to you will not be compensated by the insurer. Therefore cost of the policy with the franchise is cheaper than without the franchise.
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