Most of the expats coming to stay in Spain forget all about the national insurance contributions back in the UK. They should know that through paying only a small amount per month into your national insurance pot they will be able to get lots of benefits. So it is a good idea to pay the each month National Insurance Contributions to UK regardless of the fact that if you plan on returning to the UK at some point in the future or not.
By doing so you will get a lot of benefits like Basic state pension, Certain state benefits within the EEA , Benefits and allowances if you return to the UK, Contribution based jobseeker’s allowance, Maternity allowance, Employment and support allowance, Incapacity benefit, Bereavement allowances and bereavement allowance.
Insurance is a process of hedging against the contingent or uncertain risk. The policy documents have the clear details under which circumstances the insured have the full right to be financially compensated.
The first and foremost thing that should be considered is the quality rating of the insurance company. You should consider the details regarding the paying ability, available assets and financial strength of the insurance company. Whether the insurer a specialist in the stated field of insurance coverage area. Then evaluate your own requirement that if the insurance provider is offering you a coverage which is adequate for your requirement. It will be more convincing if you can talk to a live person or agent before starting an insurance contract.
Cost & Financial aspect:
In the next segment it comes to the cost and financial aspect. Here you need to give a bit attention towards the policy premium cost. You need to survey the insurance market to know exactly what is the effective cost that the other players are charging, what about the deductible and what is the claim paying process. There are certain providers who give discounts for multiple policies or family insurance discounts. The most important thing is to check the company’s record for claim refusal. For detail study you can check the previous past record of the state insurance commission.
In the recent day business era, picking an insurance company is not at all an easy task. A lot of things have to be considered before finagling your best insurance service provider. Numerous financial institutions as well as insurance companies have been coming and going off to the business and often merging with stronger firms. So there are certain factors that should be kept in mind while making a wise decision.