16 Jan Understanding the basics
Why do I need insurance?
It doesn’t matter how careful you are, there are things in life you can’t control. And even the smartest plans can come unstuck if you don’t give yourself adequate protection.
Whether you’re looking to protect yourself, your family, or your assets, insurance can give you the second chance you need to get on with life – without having to start all over again.
What types of insurance are available?
Most insurance companies classify their products as either ‘general’ insurance or ‘life’ insurance.
Many of us may already have some kind of general insurance, particularly if we own a car. General insurance provides protection for loss of your assets. This includes things like your home and its contents, your car, and even travel insurance.
General insurance is a great way to protect your property against the unexpected. Yes Insurance Solutions offers a range of general insurances to safeguard everything you hold dear.
Life insurance protects you and your family from the financial consequences of sickness and injury. There are a range of different kinds of life insurance products, but we’ve made things easier by grouping them into three categories:
- Life insurance to protect the financial contribution you make to your family.
- Income protection to replace your income, living expenses, and business expenses.
Trauma Insurance to protect against the financial consequences of trauma and disability.
How do I buy insurance ?
Because we all shop differently, Yes Insurance Solutions provides solutions that cater to all kinds of lifestyles. Here’s a brief explanation of the ways you can purchase insurance.
1. Talk to Us
A financial adviser can help you choose the right types of life insurance cover, and work out how much of each you need. We can also help you structure your life insurance in a way that suits your circumstances and budget.
2. Top up your insurance through super
Many of us already have some life insurance within our superannuation fund. If you have life insurance within your fund, it will most likely be shown somewhere on your annual statement. To increase the amount of cover you have, contact your superannuation fund directly, speak to a financial adviser.
How much does insurance cost?
The cost of insurance is called the ‘premium’. It is calculated based on the amount of cover you want, and the risks associated with the asset you want to cover. You can usually pay this premium monthly, half yearly or annually.
Some factors can impact the cost of the premium – like the age of the asset you wish to protect, or in the case of life insurance, whether you are a smoker or non-smoker. You can also receive discounts for having multiple policies with various Insurance Companies, or for maintaining your insurance for a specified period.
What happens if I need to make a claim?
There’s a perception insurance companies don’t pay up when the time comes for you to make a claim. Yes Insurance Solutions, we stand by our commitment to deliver on our promise to help our clients. In 2016 we help various clients with their claims. Yes Insurance Solutions Clients got paid over $172,389.04 in claims in 2016.
If you have any inquiries, want a policy health, or want a free quote.
Please contact us on 1300 512 229.
Yes Insurance Solutions also provided General Insurance for more inquiries please call us 1300 512 229