Life Insurance Buying at Lower Rates
When planning to get life insurance, there are basic things you need to know. Here are some of them
A. Do not let anyone sell life insurance to you as anything other than that. Life insurance is just that. A policy you take out that would take care of your dependents upon your death. It is a policy that would only come into force upon the death of the policy holder. Because of this, you want to be very careful and ensure that everything is done right. You will not be around to correct any mistakes or rectify misunderstandings.
B. Do not buy any life insurance policy until you have read the article of the policy. Make sure you understand the fine prints of the document. Do not just scan through the documents. Read them thoroughly, ask question where you are not clear and get a clear answer. Do not feel bashful of asking seeming stupid or naive questions. It is better to be safe than sorry.
C. Understand the premium you have to pay, amount of benefits, policy provision, beneficiaries, premium guaranteed period and other charges you have to pay.
D. The insurance companies are bound by law to give you a trial period. For most companies it is a period of ten days. You can try out the policy for ten day and if it is not satisfactory then you cancel the contract with full refund. But if you do not cancel within that trial period then the contract is binding on you,
E. You will be required to have a medical examination that would be paid for by the insurance company. You will also need to fill out a form in which you would be required to fill in your medical history and the present state of your health. Your life style and habits would be taken into consideration. All these would determine whether the insurance company would agree to insure you and how much your rates would be. Always remember to be totally honest. If the insurance company finds discrepancies in your information, your contract can be terminated and you would lose whatever you have paid before then.
F. Take out time for comparison shopping. When comparing quotes, make sure that you are comparing quotes on the same products. When asking for quotes, always give correct information about yourself.
A. Do not let anyone sell life insurance to you as anything other than that. Life insurance is just that. A policy you take out that would take care of your dependents upon your death. It is a policy that would only come into force upon the death of the policy holder. Because of this, you want to be very careful and ensure that everything is done right. You will not be around to correct any mistakes or rectify misunderstandings.
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| Life Insurance Buying at Lower Rates |
C. Understand the premium you have to pay, amount of benefits, policy provision, beneficiaries, premium guaranteed period and other charges you have to pay.
D. The insurance companies are bound by law to give you a trial period. For most companies it is a period of ten days. You can try out the policy for ten day and if it is not satisfactory then you cancel the contract with full refund. But if you do not cancel within that trial period then the contract is binding on you,
E. You will be required to have a medical examination that would be paid for by the insurance company. You will also need to fill out a form in which you would be required to fill in your medical history and the present state of your health. Your life style and habits would be taken into consideration. All these would determine whether the insurance company would agree to insure you and how much your rates would be. Always remember to be totally honest. If the insurance company finds discrepancies in your information, your contract can be terminated and you would lose whatever you have paid before then.
F. Take out time for comparison shopping. When comparing quotes, make sure that you are comparing quotes on the same products. When asking for quotes, always give correct information about yourself.
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