Five Tips To Get The Best Possible Insurance Package Thursday, May 09, 2019posted in: counceling, finance Life is riddled with uncertainties in health and business that can put you through tough times. However, with the ideal insurance cover in place, you can reduce the impact of these sudden, unpredictable situations. Insurance offers financial support during trying times, encourages you to save, and provides you with security and safety when you need it most. However, while choosing an insurance cover, you’ll notice a wide variety of policies with different features, terms, and conditions. To help you pick the correct one for your requirements, the insurance and investment experts at Ace Financial Group Inc. have put together five tips to get the best possible insurance package. Through these tips, we’ve suggested the different insurance options and how to make them work for you. Tip #1: Plan your Critical Illness cover. Critical Illness insurance gives you financial assistance during a critical illness which would otherwise impact your finances and standard of living. To make sure you get the best out of your Critical Illness cover, buy one that’s equivalent to at least one to two years’ of your annual earnings. Tip #2: Buy Disability Income insurance. If you are self-employed or do not get Short Term Disability benefits from your employers, buy a coverage of your own. It will provide you with a monthly compensation in the event of loss of earnings due to a disability. That way you meet your financial obligations as well as cover expenses related to your physical condition. Tip #3: Insure your children. It is vital to insure your children at a younger age as they might develop health issues later in life which will make them ineligible to buy a suitable coverage of their own. With an insurance policy created for them in advance, they can rely on it whenever they need to. Tip #4: Buy Travel Insurance coverage. Travel Insurance offers financial protection in the event of accidents or medical cases, trip cancellations or interruptions. Check the travel benefits offered by your credit card providers. Some might offer restricted coverage for shorter duration which may not serve your purpose. As a result, you will need to purchase your own coverage while planning your trip. Tip #5: Multiple coverage durations. Stagger your insurance coverage into permanent and term. Multiple durations will enable you to take care of your short-term and medium-term liabilities. For more tips to obtain the best insurance plan for your needs, reach out to Ace Financial Group Inc., the independent insurance and investment agency in Mississauga, ON. We are responsible for the efficacy of our services in insurance, investments, estate planning, and mortgages. We also build enduring connections with our clients based on trust and direct communication. It enables us to serve them better and keep them happy throughout the life of their policy. To learn more about our services, please click here, or get in touch with us by clicking here.