Teknokrat - Guarantee of Premium Balance Paid with ProtectionTeknokrat - Another function of insurance is to provide an equilibrium in between the premium paid and the protection that will be provided if the consumer experiences a negative occasion. That's, customers will be offered settlement that's balanced or based on the premium you pay each month.www.teknokrat.co - All threats that occur will be calculated with the premium you pay. The liability of the insurance company will differ for each consumer of course. This is because each consumer also pays a costs with a various quantity inning accordance with his economic capacity.Teknokrat - So, if you pay a reduced premium, you cannot obtain the same coverage as a consumer that pays a greater premium each month. Furthermore, wellness problems and age, or problems and kinds of items / property, also affect the price of insurance costs.Teknokrat - For instance, if you become an insurance consumer at the age of 27 years, the price of the premium can be more affordable. This is because your age is still in the effective category and there's an absence of illness as compared to those matured 40 years and over. And customers matured over 40 years, will pay a costs that's a lot more expensive because there are so many threats of illness.