We request you to follow the tips here while buying an Life Insurance Policy.
1 . Don’t wait until you need a Life Insurance coverage, Take it at the earliest. There may be many problems encountered to you when you want to take an Life Insurance Policy. But don’t be late while taking an insurance policy, Once the age is high the insurance companies will charge you with high premiums and in some cases insurance companies may reject your policy. Most of the times the insurance companies will not disqualify you but you will be charged with high rate premiums.
2 . Never choose an insurance policy by its user reviews or ratings. It is not necessary that highest rated insurance policy gives you the best coverage.
Always read the total insurance document while taking it and any point which is not clear can be clarified with the toll free number of the insurance company. Never take an Insurance policy in a hurry. Don’t go for an Insurance policy by seeing the ads in the media. Only go for an insurance policy when you are 100% convinced with it.
3. Before meeting an Insurance agent or an insurance employee, Its always better to do some home work on it. Just like searching about insurance policies, Compare the coverages and plans in insurance websites etc .
4. Always choose to pay the insurance premium annually as you can get discounts up to 20%. Paying premiums quarterly or half yearly may be very costly. With the difference amount you can easily increase your insured amount.
5. Don’t smoke and if you are a smoker don’t try to hide it from the insurance companies. Smokers will be charged 2 to 3 times on the normal premium rates.
6. If you have cholesterol and Blood pressure, Get the issues solved and attend the doctor. Insurance companies will not like the the health issues unattended.
7. If you are considering to take a policy for $85, 000, Instead go for $1, 00, 000. Many times it will cost you the same because insurance policies rates depends up on the break points such as 200k to 300k or 150k to 200k.
8. Read the life insurance medical exam tips before completing your exam. Drinking caffeine or exercising just before your medical exam can throw off your lab results and cost you big time on your life insurance premiums.
9. When you are changing your employer, Don’t change you insurance policy. Try to continue the same insurance policy by paying the same premium what your previous employer used to pay the insurance company.
10. If you were 32 years old, Insurance companies will round up and take it as 33 years old. So don’t wait if you have already crossed 30’s.
These are the general top tips to be considered when you want to take an insurance policy.