When Purchase Life Insurance Avoid This 3 Don'ts

Purchase life insurance quotes don’t always come cheap. That’s because life insurance companies are taking a gamble when they decide to insure your life and, like all gamblers, insurers or life insurance broker need to know how much of a risk they are taking when deciding whether or not your life is a safe bet.

With high insurance premiums, it can be tempting to be “economical” with the truth or just to downright lie as you fill out your policy form. However, omitting the full truth either by choice or ignorance can lead to your policy being declared void, which leaves those left behind with nothing, even if you have continued to make your monthly payments. Truth is always the best policy, so here are 3 top “don’ts” that you should bear in mind.

Don’t be coy about your age

Age is a determining factor when it comes to life insurance quotes, as the older you get, the more your premium or life insurance prices is going to go up. Your age is an easy thing for insurers to check once a claim is made using information from your birth certificate. If the age on your policy doesn’t match that on your other documentation, then your policy is nullified. As incredible as it sounds, some people lie to insurance companies for no other reason than vanity – it simply isn’t worth the risk.

Don’t lie about your health

There are certain health factors that contribute to your lifestyle which will affect life insurance quotes . If you are a smoker for instance or if you have smoked before, then you must declare this to the insurance company. Smoking is a recognised danger to your health and will push your premium up. By not declaring to the insurance company that you smoke, you are in fact committing fraud, which is a sure-fire way to not receiving a payout after your death. Similarly, be honest about the number of units of alcohol you consume in an average week and the amount of exercise you do. No medical life insurance is almost hard to find especially if you want to purchase a senior life insurance.

Don’t be ignorant of family health history

Ignorance is not an excuse for giving false information about health problems in your family’s history. Take the time to research your family tree properly for as many generations as you can and see if there are any hereditary illnesses. Assuming the best is not a smart thing to do with health problems, and could lead to your insurer refusing to pay for a claim. Make sure you tell all your family health to your life insurance broker or agent.

Comments

Basic Knowledge About Health Insurance for Individuals and Families

The changing healthcare and health insurance landscape in the United States has resulted in more individuals and families purchasing health insurance coverage on their own. Rather than touch on the number of reasons why this is the case, I would like to provide individuals and families finding themselves in this position with ten basic ideas to assist them with getting the best health insurance policy for their specific situation. Below is a combination of ten questions and suggestions that will provide the tools necessary to get a medical insurance policy that will best work for you and your family. What are your typical health and medical care expenses in a calendar year? Most people are surprised when they go through this exercise to learn that they would be financially better off in most years to purchase a high deductible health insurance plan and use the premium savings to directly offset heath care expenses throughout the year. How long do you anticipate need

The Senior Life Insurance Industry

Senior life insurance will continue to rise, as increased government regulation establishes consistent rules across the country. The senior life insurance industry is showing no signs of slowing down. More people than ever before are considering receiving immediate financial benefits from their life insurance policy by entering into an arrangement with a broker. Increased regulatory and industry oversight has improved the stature of the industry, giving consumers more confidence in working with life insurance brokers . This has led to a growing number of investment firms making senior life settlements part of their long-term financial planning strategies for clients. So what will the life insurance industry look like? Here are a few predictions for changes that might occur in the industry in the coming year: Increased Broker Interaction: The industry has recently shifted away from a model where the producer or investor can handle a transaction and to a model where life insurance

Get The Right Business Insurance Agent For Your Business

Business insurance is vital for being certain that your business is protected against unforeseen disasters. Without insurance , a successful business built with hard work and toil could be easily wiped out destroy the businessman's finances completely. However, with insurance you are guaranteed a fresh start. The first step towards getting the right business insurance is to find the right business insurance agent. A good business insurance agent will understand your business needs and will make sure you go in for the right kind of insurance that suits your business. Some small businesses make the mistake of hiring personal line agents, who lack the experience and the knowledge to get the appropriate insurance package. Be certain the insurance agent has commercial experience , expertise, and access to multiple insurance agencies making it possible to get the best coverage at the best price possible. Tips to Find the Right One 1.Ask acquaintances, friends and relatives in

COVER BY INSURANCE

Search This Blog