Frequently asked questions

Why should you review your personal insurances?

Number of people take insurance and forget about them until something goes wrong and generally which is late to review. Keeping your policy up to date is quite important and with changing times, the use & the need of policies change as well. Generally insurance reviews does not cost anything. Mutual Solutions

What is best age to take or review your insurance policies?

Insurance policies could be taken or reviewed anytime before you turn 70. Generally insurers want you to complete an application which is then assesed on the life assured health and occupation.

How an insurance broker (Adviser) can help you?

Advisers has the capability to research the entire market and suggest the most suited tailored made insurance plan for you and your family. Moreover advisers help you in determining your needs and suggest appropriate types of insurance to safeguard you from unfortunate events. Here is a useful video to illustrate the role of an advisor.

Level or Stepped premiums. What is right for you?

Level-premium insurance is a type of term life or trauma insurance in which the premiums remain the same throughout the duration of the contract. The premium paid on this type of policy will be higher at the beginning of its life but lower towards the end of its life as compared to term policies that have rising premium rates. These are becoming more and more common than annual renewable term insurance policies. These policies premiums are generally guaranteed by the insurers to be the same for a given period of years. The most common terms which consumer can choose from are 10, 15, 20, and 30 years. The total accumulated premiums are usually lower than the traditional stepped or year-to-age premiums. We promote Level premium structure as it provides a certainty of premiums payable every month or year to consumers. Short video created by Sovereign to understand premiums

What and why is the cover for Non-Pharmac funded drugs important?

With the advancement in medical technology and drugs, the treatment for some chronical conditions has also changed. Life could bring unexpected illnesses and the best we could do is, be prepared. Most of the new health insurance policies have started covering the cost of Non-pharmac funded drugs after it is becoming more common as the last resort of treatment. However, number of medical insurance policies prior to 2011 had no cover or very limited cover under medical insurance. So it becomes vital to make sure the health insurance coverage you have does cover you for non subsidised drugs.

What is the difference between an insurance broker and an insurance agent?

An insurance broker operates on your behalf and has access to the insurance market, which gives access to a broad number of products and services.

An insurance agent acts on behalf of one or more insurance companies and can only access their products.

Our job is to act in your interests, rather than the interests of the insurance company.