Twelve Tips and Tips Buy Life Insurance
Secret # 1: Do not spend too much time in life insurance quotes
Do not be underestimated by prices quoted on your internet – they do not apply to you , Unless you are very healthy. Statistically, only 10% of people apply for a policy that is actually the lowest price. The final premium you pay is not related to your online or initial quotation from the agent. For me, surprisingly, I often see people being fooled by an agent who quotes X for less than the price of another agent.
Life insurance policy is the same price, no matter where you buy it! What a proxy or website references a lower premium means. The price for any given policy is based on your age and health.
Most life insurers have 10-20 different health / price ratings, and no agent or website can assure you that the quote they give you is accurate. You must apply, do a health check, and then pass the underwriting (which means you complete a small test with a nurse at home, then the company checks your doctor records and reviews and "evaluates" your health) to get the real policy price. Remember, health ratings also affect your family history, driving history, and the type of job you have. Only use quotes to help narrow down your choices to top companies. You may want to consider no-load or low-strategy. The more you deposit your commission, the more your policy will be. You can even buy futures insurance without payload and save a lot of premium.
The most important factor in determining the price is matching your particular health history with the niche company that best fits the niche.
The most important factor in determining the price is matching your specific health history with the niche company best suited to it. For example, company X may be the most suitable for smokers, company Y for cancer survivors, company Z for people with high blood pressure, and the like.
Secret # 2: Ignoring the Hype on Term & Cash Value Perpetual Insurance
You can read insanely every word about life insurance policies and universal or universal life. Daming website gives me advice, I think border fraud. Simply put, there is no simple answer to whether you should purchase a permanent cash value policy or term insurance
But I think there is a simple rule of thumb – buy term for your temporary insurance needs and cash value insurance Permanent demand. I have read various journals and run math equations myself, which basically shows that if you need insurance for more than 20 years, you should consider a number of permanent insurance. This is due to the permanent advantage of a tax policy in the growth of cash value. I'm divorced, take care of my children, I should die. I may no longer need that much insurance, I have now. I have made a great return on my policy and have not paid taxes. I no longer pay premiums because there is so much cash in the policy. I let the policy pay the price. I would not call most life insurance a good investment. Since I bought my policy correctly, with little to pay sales commission, my policy may be my best investment. As most people have short – term needs, such as mortgages or a child at home, they should get some time off in the short term.
In addition, most people want some life insurance to pay burial in their lifetime to help with unpaid medical bills and estate taxes, so a permanent policy should be purchased along with the policy
Secret # 3:
Secret # 4: Avoiding Prisoners of Life Insurance Agents
Looking for a life insurance agent representing at least 50 life insurers and asking them a multi-company offer Good prices side by side. Some people try to cut down on agents, just apply online. Just remember that you do not save any money in such a way as the commission usually earned by agents is only maintained by insurance companies or website insurers without reducing your premium
Plus a good proxy can be Help You Can Set Your Beneficiaries by Populating Applications, Avoiding Choosing Who Is the Owner, Wrong as to the Best Ways to Pay Your Insurance, and Providing Checks There and Helping Your Relatives If Life Insurance Is Used
Secret # 5: Consider Refinancing Old Life Policy
Most companies will not tell you, but the price you pay for old policies may have fallen if you are in good health. In the past few years, life insurers have updated their forecasts of how people live. As we live longer, they are lowering their ratios. Be careful the agent may do so to get a new commission, so make sure it makes sense
I'm really surprised that I often find that our customer's old policy is a new one-fold . If you need new life insurance, consider "refinancing" your old policy and using the old policy savings to pay for the new policy – so there is no additional out-of-pocket cost.
Secret # 6: Realizing a life insurance company has a target niche that is constantly changing
And next month they are superstrong. Company "Y" may be loose for diabetic patients because they do not have many diabetics in the book – which means they will give diabetic patients good rates. At the same time, the company "W" may be very strict for people with diabetes, because they guarantee a large number of people with diabetes and fear that they have too much risk in the area – which means they will give a new rate of diabetes patients a bad.
Unfortunately, when you apply for a life insurance company will not tell you, "Hey, we just raised the proportion of diabetic patients. They will happily take your money if you are not smart enough to shop This is the first area where smart agents can come in handy.Because a good multi-company agent is constantly applying for multiple companies, he or she will have a good deal of who is currently the most generous underwriter for your particular situation The problem is that it is hard work that many agents are either too busy or not set up to effectively buy directly from different underwriters to see who will get you the best offer.
Secret # 7 : Do not Forget the Customer Service
Most people who buy insurance are focused on the lowest-priced company, the best financial rating. Unfortunately, I know some A + rating companies that have low interest rates and I will not touch A ten-foot pole just because it's easier to give birth to a porcupine reverse, then it is from their customer service
Before understanding this I used a life insurance company to give the customer a great interest rate but Two years later, the customer called to say, "I have sent all the payments on time, but only get notified that my policy is invalid. The original, the company has been doing a lot of background errors, and has lost the insurance!
We can solve it, because we have already seized this problem. But if the customer died in the short term policy has expired, his family may have been difficult to prove that the premium has been paid on time, they may not receive life insurance – loss of hundreds
Secret # 8 : 3 to 6 months in advance when you need insurance
Do not rush to get a policy if you already have some effective coverage. However, to apply immediately, knowing that you may need a few months to shop if the first company does not give you a good speed. Even if life insurance is becoming more and more automated, your application will often be retained for a few weeks or months while insurance companies wait for your doctor's office to mail them a copy of your medical record
Is a quick "uninsured" policy that you will end up paying 20% -50% of your total health check and underwriting without major life insurers, because the insurer will automatically charge you a higher fee
Secret # 9: If you are healthy and avoid buying extra life insurance through work
I believe there is an exception to this "trick" but I seldom find one. Be sure to keep your employer free of charge for life insurance. But if you are healthy and you are compensating for life insurance through pay deductions, you almost certainly pay too much. What happens is that your overpayment ultimately subsidizes unhealthy people who buy life insurance through payroll deductions
Typically, life insurers have reached an agreement with your employer and will give up the required health checks – Instead, they only average the price of all employees and provide one or two rates for any given age for men or women. Life insurers know they will pick up so many unhealthy customers, so they rise in the price of each person so that healthy people end up paying too much and making unhealthy employees get a cheaper policy. In addition, unlike our recommended warranty policy, most life insurance purchases through work will become increasingly expensive as you get older
Group life insurance is generally not available when you retire or change jobs Transplant, you retire or change work, you may have to apply it again, even if you are old, may be unhealthy, and have a risk of being rejected by the policy. If the group plan allows portability, they usually limit your conversion options and force you into expensive cash value programs
I remember helping someone evaluate his supplemental life insurance. He was convinced it was a better deal than anything I could find his policy. He rarely knows the price of his group plans to rise every year? When he retires, his premium will rise to more than $ 10,000 / year. I found his policy about $ 1000 / yr, never going up.
Secret # 10: Trial on COD Payment
Remittance with Applicant Only if You Need Life Insurance . Sending a check with an application is the traditional practice used by an agent – I think primarily because it makes their commission faster. If you are applying for remittance, you will usually get temporary insurance immediately, but if you already have enough insurance to just try to get a better interest rate, ask your agent to make a COD trial application so you only have to approve the payment once the policy is approved.
Secret # 11: Wear your shoes when the nurse measures your height
When an insurance company sends a nurse to do your health check as much as possible if you are overweight and as high as possible? In most states, you are allowed to wear shoes if you are underweight for a higher height / weight ratio than your underwriter who will look a little better and determine your health rating and policy price.
Most policies come with an accidental death benefit, a child rider
, Disabled drivers, insurance premiums, and more. If you do math on most of these "extra" maths, they usually do not have sensible financial implications. Life insurers are making money, and these riders are usually profitable because they either cover very little of what is happening or are so strict that they will not get paid. Keep it simple and focus on getting a life policy to cover your life without a lot of attached conditions. Once again a good agent can help you weigh the benefits of additional riders. But beware of an agent trying to solve every possible extra knight