I got in a wee accident on the scooter recently and everyone is now telling me to buy life insurance.
Besides the post office, there are many insurance companies about. Can anyone give some recommendations.
I have heard of Prudential, are they any good?
I am only really wanting insurance that covers me if I get into an accident on the road, hospital fees and repair costs, etc.
Thanks in advance.
First, do yo need life insurance, health insurance, personal liability insurance, or all three?
If you have dependents who rely on you financially (redundant?), then consider life insurance. I would recommend term insurance only. For 99% of people, it is best to seperate life insurance from investment, so avoid cash value whole life or universal life policies. They are extremely expensive.
Prudential (both British and the US Prudential) is a good company, but you should shop around. Check the solvency ratings for insurers from companies like AM Best, Standard and Poor’s, etc. Don’t buy anything from a company below A- grade. Another thing to consider is whether or not the policy will provide international cover. I am from the US, where term life rates are as low as they get, but I didn’t buy a policy there because unlike most other developed countries, most term policies sold in the US will not cover you if you move overseas. I bought here in HK instead.
Life insurance means that you are paying for somebody else to profit from your death, Why buy it in Taiwan? Litigation hear is near impossible. Just buy a standard policy in your home country, Then get a 500 + cc motorycle and have some fun on the freeway.
Sounds like the OP wants comprehensive motor accident insurance and not general life insurance, in which case he is best purchasing specialist motor insurance instead.
I have my bike insurance through Shinkong and car insurance through Tokio Marine. Costs around $8,000 and $25,000 per year respectively.