prudential life insurance benefit and weakness– Prudential is one of the best in health insurance. knowing prudential benefits and weakness so you won’t go wrong choosing the life insurance. At the present time, the public is more aware of the importance of health care. It is evidenced by the emergence of insurance companies in UK. One of the major insurance companies in UK is Prudential. It is an insurance company that its main offices located in London, UK. The company was established in 1965.
With the icon that says “always listening, always understanding,” Prudential becomes one of the insurance companies that often presents on television. It shows that Prudential already has many customers inthe world.
prudential life insurance benefit and weakness
However, before deciding insurance company which is suitable for you and your family, you have to know the benefit and weakness of the insurance company. Lest you will not be lost in the future. Then, let’s take close information about prudential life insurance.
3 Prudential life insurance’s benefit and weakness
A. The benefit of Prudential life insurance
1. Increasing balance of investment
Prudential insurance guarantees that the clients will get profit when investing in Prudential. In the first and second year, the premium which is paid, part of it will be entered on the balance of their investment. When you have reached the third year, the monthly premium which you have to pay, will be put on your balance in large amount. The profits will be greater if you have reached the 10th year because all the premiums that you pay will be entered into the balance of your investment.
2. There is a legacy for families
We do not know how long we will stay in the world. So, we need to prepare as early as possible preparation for families that may be we will leave in the future. Prudential gives a guarantee that if the customer dies, the insured investments will be owned by the family. Thus, we will feel calm if at any time something bad happens to us.
3. The customer will get a reimbursement
When you have to experience a worse condition where you have to be hospitalized in a hospital, then you will take the savings in the account, if you save your money in the bank. But if you use prudential insurance, you do not need to withdraw your balance. It is because the prudential will cover the cost of the treatment that befell you. So that, the balance will not reduce.
B. The weakness of Prudential life insurance
1. Rising of premium cost
Prudential life insurance is an insurance that has a system which embraces the long-term investment. The vulnerable time of prudential policy is around 10 to 30 years. In a susceptible time, which is relatively long, the premium which should be paid, also will increase. The increasing age means you will face more expensive premium cost that you must pay.
2. The investment is able to lose
Maybe we take a period of 10 years on prudential insurance. But we will never know what will happen to us at those periods. Suppose, we died during the period of using the insurance, so the investment will be become of our family. But if we died exceed the period of the policy then we will lose all our investment. It means tens or a hundred millions of our investments are gone and the family does not earn any money.
3. Reimbursement of medical expenses, etc is not fit
Due to only a little portion of your premium which you pay monthly, gets into your balance, then prudential only covers part of the cost for the situation that you are facing such as when you are sick. So do not be surprised, if you have to spend extra money for your treatment.
Hopefully by reading the article of prudential life insurance’s benefit and weakness, you will brief description about the insurance would you choose, such as prudential. The future of your family is important so do not take wrong decision.
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