Not only do you have to worry about car insurance, home insurance and life insurance, but also about medicalcover, funeral cover, disability cover and even critical illness cover With all of these different types of cover options, it is understandable that many people would rather just ignore the topic of insurance completely, rather than trying to make sense of the different packages, costs and stipulations.
When you obtain a car insurance policy (by way of example) you are basically transferring your liability from yourself to the insurance company. Most types of insurance works on the same principle. By obtaining a house insurance policy you are transferring the liability of repairs to your house or replacing stolen items to the insurance company. It is of vital importance to understand the difference between medical cover, medical aid, health insurance, critical illness insurance and disability insurance, just to mention a few. Then there are also the options of long term insurance and short term insurance.
