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A service plan can refer to a warranty or customer service agreement for a product, a contract for specific services at a set price, or even insurance. Examples include AppleCare, cell phone plans, and Vision Service Plan. Plans usually involve a contract and set costs, and customers should carefully consider if the price is worth the potential services provided.
A service plan can have many different definitions. It can be a kind of warranty that comes with a product or can be purchased separately. These warranties can entitle customers to a level of customer service or repairs to a product for as long as the plan lasts. Other forms of service plan can be used to describe a contract that specifies terms of service at a specific price per month and that can have different levels of service that increase as the price increases. There are even uses of this term to discuss some forms of insurance, and one of the biggest vision insurance companies is called Vision Service Plan or VSP.
When a service plan is a warranty or customer service agreement, it is usually purchased separately from the product or service being offered. An example of this is the AppleCare Protection Plan. For a fixed price, Apple offers its customers the option to obtain certain repairs and/or telephone advice for troubleshooting. It is essentially an extended warranty that combines a customer service component of home computer troubleshooting with major computer parts repair. When people don’t have this plan, which can usually be purchased for up to a year after purchasing a computer, they have to pay to get technical advice of all kinds, and they won’t get an extended warranty on the equipment they’ve purchased. Most AppleCare plans last for three years from the equipment purchase date.
Service plan is a term often used by cell phone and satellite or cable TV companies. There are major differences between the use of the term in these contexts and the idea of acquiring any form of security. A plan in these cases is still a contract type and may require you to use the service for an extended period, such as a year or more. It sets costs and limitations (minutes per month, amount of text messages, types of cable channels, etc.). If it is a contract of specific duration, the cost per month will remain stable, but if no contract is assigned, the cost of a service plan may increase unless a person has signed a specific contract for a certain period ($30 ) (USD) per cable month for a year, for example).
As mentioned earlier, companies like Vision Service Plan are really insurance providers. The purchased plan entitles the customer to specific things as defined. This may include annual eye exams, opportunities to purchase eyeglasses at low or discounted prices, and possibly emergency eye care. Cost may vary based on amount paid and plan purchased, as with extended warranties and/or cable/phone plans.
In most cases, the service plan charges a set amount of money and defines the terms under which any services will be provided. This usually takes the form of a contract. People should read them carefully to determine if the price is worth the potential services provided.
Asset Smart.
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