Review your existing life insurance policy..

• Do you know when your life insurance expires?
• Do you know what type of life insurance you have?
• Do you know if your life insurance will pay enough to care for your loved ones if you cannot?

If you cannot answer the questions above, concerning your existing life insurance, you can give us a call for your policy review. We do a free service in reviewing your current policies and giving financial advice.

Please call +6 (012) 634 9414 for fix an appointment.

These are few advice in Reviewing an Insurance Policy

Review the organization’s insurance policies when you receive them. Before buying any new coverage, request and review sample policies. However, many people find it difficult to fully understand the scope of coverages without considering a specific loss. One approach is to identify the risks or types of losses an organization expects to experience — an office fire, windstorm, injury (suffered by an employee, volunteer or client), auto accident, theft, or other risks. Then, determine if the policies will cover these expected losses. Ask your insurance advisor to assist with the review process. Here are the steps:

1. Check for accuracy. Insurance companies are notorious for issuing incorrect policies. The policy may contain spelling errors, the wrong named insured, incorrect additional insureds, the wrong forms, or not include a purchased coverage. Refer any errors to the appropriate insurance agent or broker immediately. Remember that this is a contract. If an organization does not address an error, it can become a problem if a loss related to the error occurs. 
2. Review the rating classifications and other schedules. Check to see what rating classifications the insurer assigned to your organization. The insurer calculates the premium charge based on certain rating classifications. There can be substantial differences in the rates among the classifications. One insurance company assigned a circus rating classification to a workers' compensation policy for a nonprofit sports organization. The circus rates were much higher than the appropriate classification of outside sales and did not reflect the insured’s exposures. Ask your insurance advisor to explain any classifications that do not seem to describe the organization’s operations.
3. Read the policy and answer these questions.
   • Does the insuring agreement cover each expected claim?
   • Is there any exclusion or other provision that eliminates or restricts coverage?
   • What policy conditions must the organization comply with?
   • Are the people or operations affected by the conditions aware of them? For example, if the policy requires that a burglar alarm always be operational, have you informed the office manager, maintenance staff, or other appropriate personnel?
   • If the loss is covered, is there a deductible? How much is it?
   • How much will the policy pay for each loss?
   
   An insurance contract is a complex contract with conflicting and confusing provisions. You must read the entire contract to fully understand the coverages, the insurance company’s responsibilities, and your obligations. Some insurance advisors recommend that buyers review the endorsements first to identify those sections of the main policy form altered by the endorsements. This makes the process of reading the main form easier by alerting the reader in advance to sections deleted or altered via endorsement.

During litigation based on disputes over whether coverage applies, the courts have scrutinized a wide range of policies. Unfortunately, various courts have rendered conflicting interpretations.  Most losses do not involve complex policy interpretations — the insurance company and insured quickly agree that the policy covers the loss. However, you must know your duties and responsibilities to qualify for coverage. Take the time to understand your policies. Your insurance advisor can help you with this task.