Seth’s Blog on Finance

Things to Consider Before Terminating Your Insurance Policy

I have met many clients to review their insurance portfolios and so far have never come across a single insurance portfolio that was properly designed. The best case was when I just had to add in missing essential elements like hospitalisation and disability income coverage. Far more common were worse cases where the person did not have additional budget for proper insurance, or plain could not carry on with the commitments.

At this point they would ask me if it was wise to give up their existing policies to free up budget or to replace them with proper coverage. Here are some things one needs to consider before making a decision.

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