Don’t fall for the cheapest quotes you can get on the Internet. It’s usually a gimmick to attract more buyers. once you’ve purchased the policy at the cheap rate they initially offer, the underwriters will assess the risk of insuring you and discover that you don’t qualify for Best Preferred rates. if you want to keep the policy you will have to pay higher premiums, which may turn out to be more expensive than the quotes you were offered through more reliable aggregator insurance websites. You have the option of keeping the policy and paying high premiums or returning the policy within a stipulated time frame which is usually 15 to 30 days. if you reject the policy, your premium will be returned to you but you have lost about 30 days and you’re still without a policy.
To save time and money, use online aggregator websites that are accredited by the better Business Bureau. The more detailed the online form is the more accurate will be the premium rating you are initially awarded. The comparison charts will help you compare different quotes, prices, terms and conditions, as well as the financial ratings of each company.
The cheapest life insurance quote may not be the best so look carefully at what each company offers. Look for free riders or additional advantages that may be useful to you. You may get double indemnity for just a few dollars more. This means that if you have die by accident, your family will receive double the death benefits. You may also find you can insure your children for a minimal amount to cover funeral expenses. Some may include a waiver option for free. This means that if you happen to skip a premium payment, your policy will not lapse immediately. there are certain advantages to such benefits even if it costs just a little more than the cheapest quote you have.
Adopt a healthy lifestyle. While aggregator life insurance websites can offer you competitive rates, you may have to work on your health before applying for a life insurance policy. did you know that life insurance underwriters may put you into a higher premium category if you are just a few pounds overweight or if your cholesterol levels are slightly higher than normal? You can make sure you get better rates for yourself by eating healthy and watching your weight. You might want to lose the extra pounds before you go for a medical. You’re also more likely to do better if you get a good night’s sleep the night before the exam.
Quit smoking! Smoking can increase your premiums exorbitantly. Some life insurance companies offer incentives to non-smokers. They can qualify for normal premium rates if they have ceased smoking for at least one year prior to applying for insurance.
Don’t wait to buy insurance. A good time to buy is right now. if you are young and healthy, life insurance companies will offer you the best premium rates which you can lock in for the entire term period. In today’s fast-paced world, diseases like hypertension, diabetes, high cholesterol are way too common. before you are diagnosed with any of these, you can help yourself to the cheapest life insurance policy. it may cost as little as $10 a month or even less.
Get only as much coverage as you require. Calculate your liabilities, your future expenses against your assets along with living expenses to support your family after you die. Don’t buy too much coverage, but be careful that you’re not inadequately covered. why pay higher premiums for a coverage that is not needed? You can better utilize that money on other expenditure.
Buy coverage for the right term period. if you’re financial plan goes well and you foresee that you don’t need insurance after about 15 years, don’t purchase coverage for a 30-year term period. once your financial goals have been met, there is really no need for insurance. A 20-year term period should provide a sound buffer as you meet your financial goals.
Conclusion
Remember it’s not nearly as important to get the cheapest life insurance quote as it is to get the cheapest life insurance policy that best suits your requirements. The company you choose should also have an excellent financial rating. Look for ratings by AM Best or Standard & Poor’s. an A or A+ rating signifies that the company has robust financial strength and a reliable track record for paying out claims. Read More
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