What is temporary insurance?

Temporary insurance is also called short term insurance and this is a type of insurance which provides cover and benefits for a stipulated time period. You can find temporary life and health insurance policies, as well as non-temporary life insurance. People take temporary insurance policies for different reasons.This article details out information about temporary insurance.

Why temporary insurance

Many people take out a term life insurance to protect their beneficiaries in the event of death. The policyholder can take a temporary insurance policy which will last until their children are grown up, or until they finish up school. Temporary insurance policies are also renewable and you can do this after your policy has expired. Advantages of getting temporary life insurance If you compare this type of insurance to a whole life one, you will find that temporary insurance is cheaper. You can also use your temporary insurance policy when applying for a mortgage or a car insurance. However, temporary insurance also have some limitations in terms of coverage. For example, it does not cover pre-existing conditions and preventative care.
Who can take temporary insurance? Although everyone may take a temporary insurance, it can be a good plan for temporary workers, students and people who are not permanently employed. They can easily qualify and it is also a cheaper option, especially if you are in good health.

Temporary car insurance

In the UK and some other European countries, temporary car insurance is very common especially when using rented cars, or when you are using a car for a short period of time. Temporary car insurance is very affordable because you pay premiums only for the distance which you have travelled. You can get a temporary car insurance just after buying your car, or when you using a rented car for a few days or weeks.
Where and how to buy temporary insurance You buy temporary insurance either through an agent or directly from the insurance company. A temporary insurance can be a convenient and easy option when either buying a life policy or an auto policy. You will buy coverage which will specifically meet your needs and requirements for the specific time period which you would have chosen. Many people find it affordable as you only have to pay for the coverage only when you really need it.