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Insurance premiums are one of those things that often feel like a “necessary evil” of modern life. Evil in that it can be expensive – if you don’t compare the insurance plans before settling on one, you might unnecessarily be paying more – taking up a sizeable chunk of your expenses each year. Yet, when you do need the payouts, you are ever so glad you have it and are likely happy to have paid those premiums.
There are many different types of insurance plans and policies, each with their own coverage terms, merits and purpose in your portfolio. These plans differ from individual to individual, and there isn't a set list of 'best insurance plans' for everyone.
Here are, however, five of the most common insurance types you should consider in order to be adequately covered:
Life insurance is taking up over 90% of Hong Kong’s insurance market. It offers different types of policies including whole life, term life or endowment, and ultimately covers the insurer’s family financial needs in the event of your death.
2. Medical
This insurance covers most of the medical expenses, including outpatient care, hospital cash, surgeries and more. However, do take note that there are some common exclusions like pregnancy, dental treatment and pre-existing conditions.
Paying these insurance premiums may not be much fun, but there is no reason why the process should not be easy. Setting up all your premiums for the different insurance types on a single platform such as CardUp not only makes it easier to manage, it also comes with these other benefits:
CardUp makes paying your insurance premiums a breeze! Here's how you can get started setting up recurring payments in a few minutes, allowing you to spend less time making payments and more time enjoying the benefits of your cards:
Your insurance premium payments should not be something that you dread each time it comes around. With CardUp, you'll be able to rack up even more rewards on your favourite credit cards, while staying insured at the same time.