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byAlma Abell
When we take a ski trip and insure ourselves against breaking any bones on the slopes, the only time we expect to see any sort of return on our cash outlay for the premium is when we do crash or fall over and break bones and become hospitalized for treatment. On the other hand, if we take out a life insurance that has maturity benefits, we are hoping that we will not die and can reap a return of investment on the premiums when the policy itself expires (should we die before the policy, then our nominated heirs will get a windfall profit). Annuities are also a type of insurance that is aimed at getting a return on premiums invested; either as a lump sum or by way of regular instalments. Annuities can also be used to provide a fund that will gather interest and then pay you part of that interest as a regular pension type income.
Go It Alone Or Seek Advice
The basic concepts of insurance are relatively straight forward; you pay out regular smaller amounts of money so that, in the event of something going wrong, the insurance provider pays out a larger sum of money. However, commercial insurance providers are not in the charity business and their prime responsibility is to make profits for their shareholders. They hope that you will make a life time of smaller payments and never make a claim; your hope is that you can make the first payment and then make a big claim (hopefully, without too much damage to yourself in the process). Reality lies somewhere between the two scenarios.
Although there is quite a lot of statistical math behind how providers calculate their premiums, they do have to compete with each other for your business when it comes to you purchasing insurance in Freeport, IL. This can lead to one company offering lower premiums; another offering better payouts; or even vice-versa. These differences can be quite large and complicated to comprehend when it comes to health Insurance In Freeport IL.
Obtaining independent advice from a broker will often work to your advantage. Because of the strong links between insurance and investments, many insurance brokers also work as financial advisors and can guide you both regarding the risks associated with any given investment and the returns you can reasonably expect to achieve.
For guidance on medical insurance in Freeport, IL, or help with annuity investments; you can contact Dr. Jerry Schwartz; the Agent/Owner of Turnin65 and take advantage of his wealth of experience.
