It’s important to filter out insurance companies that won’t really work well with what you require. For the most part, they provide a similar service, but they will differ with some minute details which could be very advantageous for you. Before getting a policy, you should ask your life insurance agent these questions.
- What’s the company’s background?
The life insurance agent should be able to provide you with a full rundown of what the company’s accomplished in the past and what their plans are in the future.
- Who are your partners?
There are insurance companys that work separately from one another, but if you look deeper, they actually source their paperwork from an umbrella company. This could be a partnership or a full-on corporation.
- What makes you better than x, y, and z?
Comparisons are great if you want to get the gist of what a company can do for you. This is when the life insurance agent will try to fully sell you on the policy from their company.
- Will there be a need for a medical examination?
Some insurance companies will require you to undergo a medical examination before they issue you a policy.
- What’s this almost illegible text?
Used to be, only shady companies used really small font sizes when putting in writing something they don’t really want the reader to read. Even reputable ones do it now.
- What’s the method of getting the claim amount?
There needs to be a hassle-free claim settlement process when taking the life insurance policy. This will let you look out for your family even after your death.
- What are the guarantees in the policy?
Find out about the different guarantees that are available in the policy. Make sure that these guarantees are all in writing as you’re told.
- What is the amount of the premium?
When everything has been laid out in front of you, make sure you ask about the premium amount. Confirm any additional charges that may become a dilemma over time.
- How will I pay my premium?
What can be your primary method of payment? Aim for your convenience as well as compatibility with the potential insurance companys that you might be going with.
- What will happen to my policy if I can’t pay the premium?
Make sure that you have confirmation over what happens if you can’t pay the premium. Will you still be able to pay during the grace period without incurring any extra charges?
- How do you make your money?
Insurance companies need to have longevity. For that to happen, they need more sources of funds other than your premiums. Find out what they are.
- How did you determine what goes into my policy?
Find out how they reached their conclusion of what to include in your policy. Is there anything that you can do to change what’s included such as undergoing a medical examination?
- Why get one?
It’s the life insurance agent’s responsibility to convince you if you’re still not convinced in getting a policy.
Find the lowest insurance premiums that get you the best coverage from the best insurance companys today. Check out Miller Carlisle Insurance Services for more info.