Choose a life insurance could be a difficult task. Here are some tips which can help you:
- Don't take rush decision, take your time to make the right decision.
- When you buy a policy, make your check payable to the life insurance company - not the agent. Make sure there is a reception.
- Having bought a life insurance, keep in mind that you may have a "free-testing" period of 14 days after receipt of the policy. You can change your thoughts in that period. If you decide not to buy a policy of the company, then it will be cancelled and you will get an appropriate refund.
- If an agent or a company call you and wish you to cancel your current policy to buy a new one, contact your original agent or company before taking decisions. The termination of your policy to buy may therefore be very expensive for you.
- If you have a complaint about your life insurance agent or company, contact the customer service department of your life insurance company. If you are still unsatisfied, contact your state insurance service. Most insurance service have a consumer business which can help you.
- Term policies are particularly suitable for young families. (Term life insurance protects the insured for a certain period: one year, five years, ten years, so it has no function of savings, and is therefore less expensive than other types).
- Estimate your total life insurance needs by examining the needs and the different stages of your surviving spouse for life. Now take life insurance to cover these gaps.
- From time to time monitor your life insurance plan, especially when there are a significant change of your financial responsibilities.
- Talk with your husband or wife about life insurance plan so your spouse will understands which of the gaps that life insurance products are designed to fill.
8 comments:
gd post on life insurance policies.gd tips and suggestions.all shd adhere these tips before taking the insurance policy.
The thought that you may not need life insurance is anathema to most life insurance agents. But as a Certified Financial Planner who is also a life insurance agent, the author of this article has a different point of view. There are times when you may not need life insurance, he says:
"Insurance: Life Insurance, Too Much, Too Little, or Just Right? "
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I've sold life insurance for fifteen years and find most people underestimate their need. The issue is more often than not with people feeling insurance poor. But life insurance is one product they need not skimp on. Have an accident in your car? You'll probably recover. Have a house fire? You'll recover. But die? Hard to recover from that loss.
Thanks for the tips. It's better to think ten times before taking the right decisions.
REALLY NICE TIPS...
THANKS...
I am finding difficulty in buying a life insurance policy for my family members as I didn't know much about it. Your post has really helped me a lot in knowing terms about it. I will discuss with my family for the further steps and will share your tips also.
At last there is an opportunity to put your medical needs first, having the cover you need at the cost you can afford. EasyHealth is a new medical savings facility, which was designed to give All South Africans access to private pre-hospital care.
Nice tips given, actually nowadays there are many different types of life insurance available by insurance companies so it gets a bit difficult to choose from those
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