first secret you do not spend too much time in a life insurance quote.
Do not be fooled by the low price offers and that – they do not apply to you if you are very healthy. Statistically, only 10% of people who apply actually get the lowest-priced policy. The premium you pay nothing at the end of the initial quote you get online or an agent. Amazing to me how often I see people getting duped an agent who quotes the company X at a lower price than the other agent.
Life insurance policies are the same price no matter who buys! One of the agents or the website quoted a lower premium does not mean anything. Rates are based on a policy of age and health. There are some exceptions to this, however, it is beyond the width of this article.
Most life insurance companies based on a variety of health 10-20 / price, and not an agent or website can assure you the quote given is accurate. It should be applied, then a check up, and then go through underwriting (that is, if the entire mini-exam sister's home, then the company's control medical records and reviews, as well as "gold" for health care) that the real price of the policy. Remember that the health assessment may also play a role in your family history, driving record and the type of occupation there. Only quotes to narrow down the choices to the largest companies. It may be worth without a load or low politics. The more to save on commissions, the more money you accumulate in politics. Whether you buy term insurance without a load, and save a lot of awards. You can not get help from the drug, which is worth something, if you are very good.
The most important factor that determines the price is appropriate for the health history of the company's most niche. For example, Company X may be best for the smokers, cancer survivors Company Y, Company Z, who have high blood pressure, etc.
2. Secret Ignore the hype, the term versus permanent cash value insurance.
go crazy reading what everyone says buy term insurance versus whole or universal life insurance. Big name websites advise that I think borders on fraudulent. Simply put, there is no simple answer is that you need to buy a permanent policy cash value or term insurance.
But I think there is a simple rule – buy term insurance needs of the temporary and permanent cash value insurance needs. I have read various magazines and run my math equations, which basically shows that if there is a need for security after 20 years, it is worth a certain amount of permanent insurance. This is due to the increase in the tax allowance in cash value in a permanent policy. I am divorced and took care of my children I die. Maybe you do not need as much insurance as now. I have earned great return policy, and unpaid taxes. I no longer pay the fees, because we have so much cash in the policy. I let my policy pay for themselves. I would not call most of the life insurance is a good investment. Because I was the right policy, and paid almost no sales commission policy was probably the best investment. I do not own them, so if I die beneficiaries and the money tax-free, tax-exempt property.
Since most people are short-term needs, such as your mortgage or your kids need a home run. In addition, most people want some life insurance in force throughout his life to pay for burial, helping unpaid medical bills and property taxes and so bought with a fixed-term political policy.
3. Secret consider the two companies at once.
Life insurance companies really do not like this "trick" because it gives them the race and increase the subscription costs.
Secret # 4: Avoid prison for life insurance agents.
Find a life insurance agent who represents at least fifty life insurance companies and ask them if more companies showing the best price quotations to each other. Some people try to reduce the agent and only online submissions. Just remember not to save so because the committees are generally obtained only hold the agent of the insurance company or the insurance company's website without having to reduce the premium.
Plus a good agent can help you maneuver through some of the complexity by completing the application that created the beneficiaries, avoid errors by selecting who the owner is, the best way to pay the premium, and will be there to give out the check and help loved ones if life insurance is ever used.
Secret # 5: Consider refinancing old life insurance.
most companies will not tell you, but the price you pay for the old policy will probably come down drastically if in good health. Over the past few years, the life insurance companies updated their predictions about how long people live. Since live longer, they lower their rates quite dramatically. Beware that the agent can obtain the new Commission, so make sure it really makes sense.
really am amazed at how often we see that customers of the old policy twice as expensive as a new. If you need a new life insurance is "refinancing" of the old politics and the old politics of the savings to pay for new policies – so there is no extra out-of-pocket costs. We like to think of this process of "refinancing of life insurance" – just like you can refinance your mortgage.
Secret # 6: Feedback life insurance companies target niches that are constantly changing.
One day the company "X" will give a good price that people who are a little overweight, and next month they are super strict. Company & # 39; Y & # 39; be lenient with diabetes because diabetics are not many books – which means giving a good price for diabetics. However, the company has a "W" may be very high, people with diabetes because they provide a lot of diabetics and fear that too great a risk to the area – which means giving a bad rate of new diabetes patients who apply.
Unfortunately, when applying for a life insurance company will not say, "Hey, we just raised our prices with diabetes." They are just happy to take your money if you are not smart enough to shop around. This is the number one area of an intelligent agent can come in handy. Since continuously use a good multi-company multi-agent deal with the company he will be good, who is currently the least you subscribe to a given situation. The problem is that it is hard work and a lot of agents, or too busy, or not configured to effectively shop around the various signatories immediately and who would be the best deal. This is much harder than just running a quote online.
Secret # 7: Do not forget customer service.
Most people focus on buying insurance with the lowest price and the best financial rating. Unfortunately I know several A + rated companies at a low price who was not affected by the ten-foot pole simply because it is easier to give birth to a porcupine day, then that customer service from them.
before you understood this, I used a life insurance company that gave a customer a high rate, but two years later the client called and said: "I have mailed my payments on time, but only received a notice saying that the policy is gone. " It turned out that the company has been making a lot of mistakes and lost the back office to the charge!
we were able to fix it because the problem is caught so early. But if the customer happens to be dead a short period, the policy is passed, the family might have had a hard time proving that the insurance premium is paid on time, and you may not get the life insurance money – the loss of hundreds of thousands of dollars in case.
Secret # 8: Apply 3-6 months prior to the time you need to ensure, if possible.
do not hurry to make a policy if you already have some coverage in force. But he knew immediately apply to be necessary, shop around for months, if not the first company to get a good rate. Despite the fact that the life insurance industry is becoming automated application still often held up for weeks or months while the insurance company is waiting for the doctor's office for them to mail you a copy of medical records.
If you are in a hurry and buy a makeshift "non-subscription" policy does not go through the entire health checks and underwriting the majority of life insurance company requires, you end up paying 20% -50% more for the insurance company will automatically charge the higher rates because they do not know how healthy or is about to die the next day.
Secret # 9: Avoid buying extra life insurance through work, if healthy.
I'm sure there are exceptions to this "trick", but I rarely agree. By all means keep the free life insurance from the employer. But if you are healthy and you pay through payroll deductions supplementary life insurance will almost certainly paying too much. What happens is that the "overpayment" ends support for unhealthy people in the company who buy life insurance through payroll deduction.
Generally, the life insurance company cut a deal with the employer and forgo the necessary medical examination of all the staff – all the staff were interested only in the average price for one or two offers and the proportion of males and females of a given age. Life insurance companies can pick up a lot of unhealthy clients in this way, so Jack up the price of all that healthy people eventually overpaying to unhealthy employees can get a cheaper policy. Furthermore, contrary to offer the guaranteed term policies, most buy life insurance through work will become more expensive as you get older.
is group life insurance are generally not portable when you retire or change jobs means that if you retire or change jobs you may have to re-apply, even if it is older and probably not so healthy, it risks He rejected the policy. If the group does not plan allows portability is generally limited by the conversion options and force you to go into the expensive cash value plans.
I remember someone help assess the additional life insurance. He was sure that it was a better deal than any of the policy could be found. You did not know that the price of the group's plan would go every year? What would retire the premium rose to more than $ 10,000 / year. I found him a policy for about $ 1000 / year, which will never go up. Also, unlike the old group life insurance could make the individual policy with him when he changed jobs or retired.
Secret # 10: There is a trial application on the basis of the COD payment.
only send money to the request, if you need life insurance coverage immediately. Send a check for the application of a conventional agents used to practice – I think mostly because they have commissions faster. If you send money to claim you usually get temporary coverage right away, but if you already have plenty of cover, and just trying to get better prices check with your agent to do a test application on the basis of the COD so you only pay if the policy is approved. If you do not give money, and then you die before the policy pays no coverage.
Secret # 11: Wear shoes when the nurse to measure the height.
When the insurance company will send a nurse to the condition does not attempt to be as high as possible if you are overweight? In most states it is allowed to wear shoes, and if you are a bit overweight the higher height / weight ratio a little better the signatories, who determine the health rating and the political price. Also not in the exam early in the morning is not the food – it's going to get your cholesterol number and variety of health care at the best rates.
Secret # 12: Be careful, extra benefits and riders.
most of the policy options comes as accidental death benefit, child rider, riders handicap, etc. If you do not return the premium mathematics, most of these "extras" are usually not smart financial sense. Life insurance companies to make money, and these drivers are usually profitable because they do not cover something that rarely happens, or is so severe that the board does not get paid. For simplicity, and in particular the acquisition of a life insurance to cover your life without a lot of it. Again, a good agent can help you weigh the benefits of the extra riders. But be wary of an agent who is trying in every possible direction extra rider.