tommy johnson insurance

tommy johnson insurance
People spend a lot of money on complicated financial products and it is sometimes difficult to keep track of what products perform what tasks. Many people are not aware of all the financial products that are available or they only know of them vaguely. They may not know how much they cost or the potential benefits they offer. How can consumers make informed decisions on what products they would be willing to buy if they do not have this basic information? This problem can often lead to consumers buying unsuitable of overpriced products simply because they feel they should have some financial protections available but do not have the details to make in informed choice.

One of the common questions many consumers have is regarding the difference between insurance and assurance policy. Simple, insurance covers the cost of an event that may happen during the security policy will pay on the occurrence of an event that is certain to happen. Insurance only for a certain period. If the event at this time, they should be paid, otherwise they are finished. Therefore, if no claim may be made within the lifetime of the policy, they have no further value.

Guaranteed payment

A promise is different. Assurance policies always pay. For example, a life insurance is usually charged by the death or upon reaching the age of 65. How does this work? Well, they combine two elements, an insurance element, which must be paid when the person dies early. This is then used to cost for the burial or support his family. But then there is an additional payment each year, and this is part of the investment. The insurance invests this part of the premium on behalf of the insured and if the age of 65 years, which they pay. Life insurance policies are therefore often used as a method of life and as a method of saving for retirement.

They need money now?

If you want to invest money in the early part of this life is possible in principle. However, it is usually added to high fines, so this is not advisable to spend money in early if you do not need. The distinction between insurance and quality assurance is increasingly blurred as more companies offer both types of policy or add the characteristics of a type of policy to their new way to make them more attractive. The distinction is still important, so you know what you ask for and know what types of facilities available for the insurance of your life and your future.

Joseph Kenny is the webmaster of the insurance http://www.insure121.com/ website you will find information, news and links to the leading providers of insurance in the United Kingdom. If you found this article interesting you may find more articles of the same nature in the insurance guide located on site.