BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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pay your premiums monthly rather than yearly
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buy more than one type of insurance from the same company
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purchase an individual plan rather than a group plan
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choose a lower deductible
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Detailed explanation-1: -Ask for higher deductibles Deductibles are what you pay before your insurance policy kicks in. By requesting higher deductibles, you can lower your costs substantially. For example, increasing your deductible from $200 to $500 could reduce your collision and comprehensive coverage cost by 15 to 30 percent.
Detailed explanation-2: -Some factors that may affect your auto insurance premiums are your car, your driving habits, demographic factors and the coverages, limits and deductibles you choose. These factors may include things such as your age, anti-theft features in your car and your driving record.
Detailed explanation-3: -Term Insurance Plans Term insurance is a pure protection plan and is not market-linked. Moreover, the premiums for term insurance are lower as compared to any other life insurance product. The premiums are also more affordable if you buy them early in life.
Detailed explanation-4: -Concurrent insurance is when there are two or more insurance policies that provide coverage for the same risks over the same period of time.