There are insurance policies that cover just about everything, from home and car insurance to life insurance and even pet insurance. While everyone who drives a car is obligated to have motor insurance, most other insurance policies are optional. Those serving within HM forces and preparing to deploy to other countries may want to look for some HM forces insurance before leaving. Those remaining at home can also take advantage of the special military insurance policies offered by some insurance companies. Just like civilian policies, these cover a wide variety of events, starting with military kit insurance and military forces travel insurance and ending with wedding insurance.There are numerous things that can go wrong when leaving the country and those serving in HM Armed Forces going abroad regularly would do well to be prepared and take advantage of the special policies available to them. Most people believe that they do not need insurance because nothing will happen to them, but it is always better to be safe than sorry. There is no way of telling when something unexpected will take place such as a loss of kit or personal possessions in transit or an accident whilst off duty requiring hospitalization when you do not want the cost to be an issue if it is not being covered by the M.O.D.After all, there is no point in taking a risk and leaving without proper insurance, when it is only a couple of clicks away. In the past, obtaining insurance was a long and complicated process that required a lot of paperwork. However, as technology has evolved greatly, it can now be purchased directly online after filling out some electronic forms. This eliminates most of the hassle from obtaining insurance and now there is no excuse for anyone not to get it. Not only that, but purchasing online also has the advantage of price, as most of the time policies are cheaper if purchased directly online. The application can be filled out in several minutes and the paperwork is received via email afterwards, ready to be printed.As mentioned above, military professionals have special insurance policies available just for them. Travel insurance policies are a common policy among civilians as well as those in HM Armed Forces. Frequent travelers would never think of leaving the country without comprehensive travel insurance and most get annual insurance, but those who only travel once or twice a year may think that there is no point in getting annual travel insurance.However, the price of annual travel insurance can be lower than the price of two single trip policies depending on your destinations, plus it allows the insured to take unplanned trips as well, knowing that the insurance is still in force. Getting insurance strictly for the duration of the trip is not always a good idea and it is good to find a policy that allows the duration to be prolonged, or to get an annual policy directly. Events can take place that will extend the duration of the trip, and not being insured in the final days of the trip is an extra worry.Most insurance policies have special prices for couples or families and most of the time children under a certain age are insured for free. Some insurance policies cover the family but only if all the members travel together, but there are also those who offer independent travel insurance, allowing family members to travel separately or to different locations and still be insured.The special military travel insurance policies offered to military personnel have some extra benefits, as is to be expected. Most of the policies have cancellation cover due to unforeseen postings in HM forces, which allows them to claim under the policy if they could not go on the trip due to their posting overseas or emergency and unavoidable duty. This cover may be included automatically or offered for an additional premium payment.Even though HM forces travel insurance and regular travel insurance are among the most common policies, there are also others that need to be considered. HM Forces personnel traveling abroad are especially encouraged to get insurance, as the military insurance policies offered to them have several advantages, as mentioned above. It is always better to be prepared in case of unexpected events and out of the many hm forces insurance policies available, military kit insurance and travel insurance are among the most important ones. Leaving the country without these insurance policies can have serious consequences.
Why insurance? An Introduction:
Human life is full of risk and uncertainty, which may involve various unforeseen events like physical injuries, threat to life, financial losses etc. Insurance gives you the confidence to deal with these unexpected situations and bear these emergency losses and expenses against a set of payments called insurance premiums. Read on carefully to learn more about the various types of insurance and some of the benefits associated with them.Types of Insurance:
Insurance can, in simple terms, be defined as the transfer of your (policyholder) risk or a loss to the insurer (insurance companies) in return for your premium. Insurance has over the years spread its wings to almost all areas of human life to cover all damages and losses incurred. Examples below:
Life insurance: To protect against the loss of life.
Health insurance: To cover the medical expenses and emergencies incurred through illness or injury.
Home insurance: To protect your house against the damages caused by unforeseen events, e.g. theft or fire.
Travel insurance: To cover the type of risk that may occur while traveling.
Income Protection: Useful in repayment of loans in case of unemployment, disability etc.
Some of the major insurance types, which compensate you at times of unforeseen events, are discussed below.Life Insurance:
Life insurance guarantees that in your absence, your family members are at least financially secured as per the terms of your life insurance policy in spite of the personal loss associated with your death. They can to meet the financial cost of the crisis if you were the main earner of the family. As laid out in the terms of the life insurance policy the policyholder has to pay a set of payments known as a premium and in turn the insurer will compensate the policy beneficiary in the event of insuredâs accident or death. Life insurance comes in different types, e.g. Mortgage Protection, Level Term, Convertible Term, Whole of Life, Section 60 Life Cover and serious illness cover.Nowadays life insurance is essential for everyone to provide financial assistance and peace of mind in their most difficult times.Health insurance:
Health insurance will help you to get your chosen level of medical care and cover you and your family against health related issues, surgeries, medical expenses etc.You should keep the following points in mind before choosing your health insurance.
You should look for total health coverage given by the policy rather than the total cost of the insurance.
You should be familiar with the terms and conditions of the policy to know about the Conditions, diseases, ailments, events and the body parts which are covered in the policy and the conditions, diseases, ailments, medical conditions and events which are excluded from the policy etc.
You should also carefully compare the coverage, deductibles, premium and the compensation against the claim paid to pay a lower premium and to avail of as broad a cover as possible.
You should decide what type of coverage you require based on your personal circumstances.
If you invest early in health insurance, it may reduce your financial burden in the inevitable situations and medical emergencies of the future.
Home insurance will help you to safeguard your home and personal belongings against theft, accidental damage and damage cause by the natural calamities. The basic home insurance policy can cover against damage from lightning, fire, smoke, theft, snow, windstorm, volcano etc. Some policies cover against losses caused by the heating system malfunction, flooding due to leaky plumbing, freezing of plumbing and the factors against the loss of belongings and property etc. One should always ensure that the home insurance policy covers the events that you feel need to be covered to the value that is needed. It is important to familiarise yourself with the terms of your home insurance policy and ensure that you are adequately covered for the events that you feel you need.Travel insurance:
It’s a good idea to have travel insurance whether or not you expect to travel in hazardous environments. Basic travel insurance usually covers loss of luggage, theft of belongings and some flight issues. You should check your travel insurance to know what the policy covers in case of evacuations, military conflicts, acts of nature, theft, and health issues etc. especially if you are traveling overseas frequently. Getting your travel insurance can provide you a complete peace of mind while traveling.