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

Are There No Medical Life Insurance Policy?

If you would like to buying life insurance but don't want to be bothered with having a medical exam or in order to qualify for coverage then I've got some very good news for you. Provided that you don't have a serious pre-existing medical condition it is possible for you to get a life insurance policy without ever having to see a doctor that also called no-medical life insurance . How Much Life Insurance Coverage Can You Get? Nowadays there are quite a few life insurance companies that offer insurance policies that do not require medical exams. However, the amount of coverage will not be as high as what you could get if you opted to apply for a policy that requires a medical exam. Most of the no-medical life insurance policies that are offered are term life insurance policies whose terms could be ten, fifteen, twenty, or thirty years. The good news is that many of them will come with a renewable option. Keep in mind, though, that if you renew your policy years from now...

Right Business Insurance Plan To Protect Your Business

Oftentimes, in the haste and excitement of getting your small business up and running, one important aspect is forgotten or neglected. That aspect is insurance products that serve to protect your business. Different kinds of small business insurance products are available. It simply is not a case of one size fits all. If the business has any employees, other than the owner, then most, if not all, states require that the business carry worker's compensation insurance. That insurance comes into play if a worker is injured on the job. Carriers, premiums, and minimum coverage requirements may vary from state to state. However, it is an essential part of any insurance package. Another kind of insurance is business interruption insurance. If there is a fire, flood, or disaster that prevents your company from operating for a period of time, this insurance can reimburse the insured business for losses suffered while the business cannot operate. Another kind of small busine...

Cheap Car Insurance

With the rising costs of fuel and just about every other good or service we purchase, many of us are looking for cheap car insurance . When it comes to cheap car insurance most of us are clueless as to how to go about getting a low cost car insurance policy. There are many factors that influence your car insurance costs drastically. For example, did you know that the type of car you drive will influence the cheap car insurance you're looking for? Or did you know that using anti theft devices will help reduce your over all car insurance costs? A good driving record will allow you to get cheap car insurance? The deductible is the amount you pay first out of any claim for an accident. The car insurance policy's cost is directly related to your deductible. A lot of people, especially those with a good driving record, who have had their insurance policy for a long time, have never considered varying their deductible. If you have a clean driving record and are prepared fo...

COVER BY INSURANCE

Search This Blog