- How much are you prepared to pay? And can you pay monthly or annually (normally cheaper)?
- How many items do you need to cover and how much are they worth (roughly)?
- How much are you willing to pay if something goes wrong (called the excess)?
- What’s the customer service like?
- How strong is the insurance company that you will buy from?
Insurance Intervals
Insurance not only protects the people and things you love. It helps you live life with confidence. There are a lot of options out there. We’re here to help you understand why it’s important, what you need (and what you don’t) and things to consider when buying.
Oh – and there’s no obligation to be insured by us. But if you do, we’re ready to help.
So what is insurance?
In practical terms, insurance gives you financial protection for specific events. You pay a monthly or annual fee (often called a premium) and in return, your insurer has your back. This could be anything from losing your phone to your luggage going missing while traveling to your holiday.
Quick tip: Even if you can afford it all, you don’t have to buy it all! Speak to the experts and get the cover you need.
Why bother then? You’ve probably heard all the fear-fuelled reasons to get insurance. And that shouldn’t be ignored. But also think about the confidence boost of knowing someone has your back, for your plan A. And even plan B.
For example: You’re on a beach holiday and fancy hitting the surf. As you’ve got the right health insurance in place, you can dive right in – even if you find out you’re more suited to land than water.
Good to know ...
Some insurance is a must-have. For example, you need it to drive. Or usually to get a mortgage.
How to choose
A wise man once said “Life is like a box of chocolates. You never know what you’re gonna get.” And while life is full of exciting twists and turns, it’s important to consider a few things before committing your life savings to every insurance under the sun …
It can be tricky to know where to start. So here are some possible steps …
- Start by comparing insurers. There are plenty of good websites to do so. Just make sure you’re comparing apples with apples.
- Get enough insurance. Try to work out what it would cost to replace something if you had to.
- Think about your current life stage. Your insurance needs may change over time, for example, if you start a family, buy a house or a car, or start your own company.
Good to know …
Sometimes, you may be covered for things already. Examples include travel insurance with your bank or health with your employer.
Types of insurance
From Hammy the hamster to Zippy the Z3, you can get insurance for just about anything these days. As insurers, we tend to group it into three categories – Life, Health, and Property and Casualty (P&C).
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Chapter 1
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Chapter 2
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Chapter 3
Deep dive material
Explore the module content in further detail by reading through the Insurance Intervals PDF. Increasing the difficulty of your workout is key to improve! The deep dive content is designed to provide more depth and test your boundaries.
Now it’s your turn
Top three takeaways
Take the time to find out what you need and don’t be afraid to shop around!
Not all insurance is the same, so check you’re covered for the things you really need.
Think about whether you can do little things to help the cost of your policy, like having a telematics device in your car.
Preparing to stay in the game
Congratulations on finishing Allianz Future Workout! Feel free to check the notes again any time. And if you’d like to go even further, then sign up for Allianz Ready Coach - a free coaching session for those interested in a career in sports. Good luck!
Any questions or additional support?
We are happy to help.
Disclaimer
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This document includes forward-looking statements, such as prospects or expectations, that are based on current views and assumptions and subject to known and unknown risks and uncertainties. Actual results, performance figures, or events may differ significantly from those expressed or implied in such forward-looking statements.
Deviations may arise due to changes in factors including, but not limited to, the following: (i) the general economic and competitive situation in the Allianz’s core business and core markets, (ii) the performance of financial markets (in particular market volatility, liquidity, and credit events), (iii) adverse publicity, regulatory actions or litigation, (iv) the frequency and severity of insured loss events, including those resulting from natural catastrophes, and the development of loss expenses, (v) interest rate levels, (vi) changes in laws and regulations, including tax regulations, and (vii) the general competitive conditions that, in each individual case, apply at a local, regional, national, and/or global level.
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