One of the most frustrating processes to endure can be completing an application for a life insurance policy. The agent gives you a complete, and I do mean complete, run down of the companies various life insurance policies on offer which could take half an hour more of your valuable time, usually as you are ready to sit down to a meal. When he's convinced you of which policy he thinks you need, he laboriously fills out the form for you, in case you make a mistake. During the form filling, he remembers to tack on a few more provisions, adding to the cost of the premium. At the end of the process when you finally say goodbye to the agent, you are left with the feeling of weary confusion and uncertainty about whether you have done the right thing.
That scenario could have taken a different outcome if there had been fire insurance and life insurance. The family could have rebuilt their home, paid off their debts and been able to feed itself comfortably. There possibilities are endless.
Nowadays, Lloyds of London undertake a similar role for ships and all things relating to shipping. Lloyds of London itself started from simple origins. In 1680, Edward Lloyd opened a coffee shop where most of the customers were ship's captains, merchants and ship owners. The current shipping news of the day was generally discussed and it eventually became the place where cargoes and ships were insured by those wishing to underwrite such sea ventures.
There are some drawbacks with purchasing on line insurance policies that you should be aware of. Online plans are often preset so you can't tailor a plan to suit you or negotiate a change in the premium price. Some customers benefit from having the policy provisions explained fully by an agent before purchasing a policy, something that it isn't available with online plans. As yet, not all insurance providers have an online claims service so that if you need to make a claim, you will still need to contact the company in the normal way.
In 1732, Charles Town, later known as Charleston in South Carolina, was the home of the first insurance company to underwrite fire insurance in the United States.Insurance premiums can be a financial drain on the family or corporate budget. Could we afford to rebuild after a fire destroyed our home? How would we survive if the bread winner of the family became sick or died, leaving debts and no means of support? Are we able to rebuild our business after a natural disaster without insurance cover? We often take insurance for granted but where would we be today without it?
That scenario could have taken a different outcome if there had been fire insurance and life insurance. The family could have rebuilt their home, paid off their debts and been able to feed itself comfortably. There possibilities are endless.
Nowadays, Lloyds of London undertake a similar role for ships and all things relating to shipping. Lloyds of London itself started from simple origins. In 1680, Edward Lloyd opened a coffee shop where most of the customers were ship's captains, merchants and ship owners. The current shipping news of the day was generally discussed and it eventually became the place where cargoes and ships were insured by those wishing to underwrite such sea ventures.
There are some drawbacks with purchasing on line insurance policies that you should be aware of. Online plans are often preset so you can't tailor a plan to suit you or negotiate a change in the premium price. Some customers benefit from having the policy provisions explained fully by an agent before purchasing a policy, something that it isn't available with online plans. As yet, not all insurance providers have an online claims service so that if you need to make a claim, you will still need to contact the company in the normal way.
In 1732, Charles Town, later known as Charleston in South Carolina, was the home of the first insurance company to underwrite fire insurance in the United States.Insurance premiums can be a financial drain on the family or corporate budget. Could we afford to rebuild after a fire destroyed our home? How would we survive if the bread winner of the family became sick or died, leaving debts and no means of support? Are we able to rebuild our business after a natural disaster without insurance cover? We often take insurance for granted but where would we be today without it?
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