Shop for life insurance? Yes, but how?
Life insurance is important because you never know what can happen. You do not have to wait to get old or get sick before you buy life insurance.
Of course, you will have to shop this insurance so that it perfectly meets your needs. To help you, here are 10 tips for choosing life insurance.
1. Determine the amount of your life insurance
It is important to choose an insurance that will fit your budget. That’s why you can just shop your life insurance to find the one that suits you best.
2. Conduct an analysis of their needs
Alone or with the help of an insurance broker, you must first analyze your needs before choosing your life insurance. You will be able to analyze everything related to the characteristics of the insurance contract, family obligations, your income and your balance sheet.
3. Understand the advantages and disadvantages
Whatever life insurance you choose, there will be advantages and disadvantages. Before making a decision, be aware of all these elements.
4. Fill in the correct form in the event of a change of insurance company
If you already have life insurance and want to change it, the new representative must complete the form called Policy Replacement Notice.
5. Check tax and fees
When you change your life insurance, you may have to pay taxes and / or fees. This is to check when subscribing to your new life insurance.
6. What is the sum of your life insurance
You need to know if it is fixed and guaranteed. It is better to know in detail the future life insurance contract before signing it.
7. Ask what are the exclusions
In any insurance policy there are always exclusions and it is important to check them out.
8. Check premiums
Are premiums fixed or will they increase over time? This is also to be seen before signing the life insurance contract.
9. Make a check to the right person
If you pay a premium and sign a check, it is important to do so on behalf of the company and not the representative.
10. Check the administration fee
Some insurance companies will charge a more expensive administration fee than others. This is also to consider when choosing life insurance.