Exploring Finance: The Unheralded Insurance Products that could save you Money

Tue, Apr 29, 2014

Financial Advice, Financial News

Insurance is a fluid and constantly changing entity, and one which continues to benefit from the fruits of innovation. This has manifested itself in a number of unique and exciting products, each of which has been designed with the aim of protecting a client’s financial assets or helping individuals to save their hard earned money.

While many of these innovative insurance products may seem unnecessary, however, it is important that you appraise them fully before dismissing them out of hand. Even as the economy continues to grow, it is crucial that you remain proactive and seek out effective ways of protecting your hard-earned income.

3 Unheralded Insurance Products for the Modern Age

With this in mind, which unique and unheralded insurance products offer the best financial assistance to consumers? Consider the following: –

  1. Bespoke Life Insurance

Life insurance is something that none of us want to consider as a key purchase, but the peace of mind that it offers to our loved ones is hard to put a price on. While the majority of us tend to rely on a company life insurance policy that delivers standard protection and remuneration terms, however, there are some individuals who look to seek our bespoke coverage that adequately meets their specific needs. Companies such as Catlin UK have worked hard to deliver a diverse range of life insurance policies, so it may be worth investigating these and investing time into making an informed financial decision that can benefit your future.

  1. Income Insurance

Although income insurance is a tried and tested product, it is one that remains largely unheralded in the consumer market. One of the main issues is that business-owners do not offer this as standard, which means that employees tend to either underestimate its importance or forget to request this as an additional feature of their contract. Income insurance is a product that enables you to recoup the vast majority of your salary in the event that you have to take an enforced absence from the workplace, and in some instances this can be as much as 75%. This is well worth consideration, especially given the impact that long-term sickness and disability can have on the average household.

  1. Specialist Health and Accident Coverage

While I may be common practice to invest in personal travel insurance whenever you head abroad, we are far more inclined to take risks when traversing the streets of our homeland. These are also littered with considerable risk, however, so it may be worth considering the benefits of investing in a specialist and customised accident policy. This can include anything from general personal accident coverage and travel insurance to adequate protection in the event of damages incurred by an act of terror. Although these personalised policies are far from cheap, they offer considerable peace of mind and can help to provide financial security during emotionally and physically challenging times.

From the unique to the unheralded, these financial products can help to provide genuine reassurance and financial assistance during difficult times. While you may never use them, they are a must for anyone with a cautious outlook and a desire to protect their hard-earned assets and income.

 

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