- Listed: January 13, 2015 3:54 pm
- Expires: This ad has expired
Life insurance “� it doesn’t get any more straightforward than that. You know exactly what you’re getting when you hear or see those two words. However, as simple as life insurance is to understand, it can be quite complicated when it comes to getting the right policy. Use these tips to help guide your decision.
Obtain life insurance from financial professionals, not through brokers. When you purchase a policy from an insurance broker, the broker will earn a commission. The difference is that financial advisers get paid one price. This means that financial advisers will give you an honest option, and won’t be desperate to sell to you.
There will come a time in your life when, if you’ve been lucky enough to get to that point, you will want to consider long-term care insurance. You should definitely consider it once you hit your fifties. If you become too ill or infirm to continue your current lifestyle, you will want to have a Plan B, so that you can rest assured your care needs will be covered no matter what life throws your way.
Life insurance companies often charge cigarette smokers double the usual premium. A way to reduce the monthly cost of your insurance, is to quit smoking if you are a smoker. Another way to bring your premium down is to stay in shape. Physically fit, non-smokers are at far less risk for developing illness and diseases.
Look for red flags from advisors, companies or representatives who are selling you products and services. Any agent that appears vague, or who will not give straight information regarding ratings, should not be dealt with. Also, take the time to lodge a complaint about the agent with their superiors.
You should find out about the payment options that are available to you when you are signing up for a life insurance policy. There are many companies that offer customers the ability to pay monthly, annually or even bi-annually. You need to consider which option is best for you, and set up the payment plans accordingly.
When researching life insurance policies, it is wise to do your own homework so that you understand the products, but it’s also smart to cover all your bases by speaking with a professional. An insurance agent can find deals that you might not be able to find, change your policy and answer questions that your own research didn’t answer.
Ask complex questions to your broker to see how much they really know about insurance. Check to make sure that the policy is one that is renewable. Also, look into cancellation options and guarantees on premiums. Shop carefully and consider all of the details and you are sure to find the perfect policy.
Buy your life insurance when you are relatively young and healthy. If you are older, and you’ve had health problems, you will have a harder time getting approved, and you will pay a much higher premium. So don’t wait to get your policies when you are older and think you’ll be able to afford it.
Life insurance is a premium you will pay (we hope!)for a long time. Therefore it is important to consider affordability. But you don’t want to let cost blind you to an equally important concern: trust. Can you trust this insurance agent? Does his company have the longevity and reliability you need?
For affordable life insurance, look for an employer that offers such a benefit. The price of life insurance as a group is much cheaper than for an individual: the price is determined in function of the average risks in the group. You can also find a life insurance through your union or alumni association.
Never lie on your life insurance applications. Trying to hide smoking or other negative conditions or circumstances could cause your claim to be denied if something happens to you, because insurers do investigate if claims are suspicious. Your dependents could lose out on the money they need to cover expenses if you are not up-front with the insurance company.
So, how was it? Was it easy to digest? Hopefully, the above information will help you with the world of life insurance. Remember and apply these easy to understand tips to make better decisions regarding life insurance.
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- Listed by: SebastiKean
- Member Since: December 13, 2014
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