We all recognize the importance of life insurance. After all, we want to make sure that our loved ones are taken care of when we die. But before you run out and purchase a policy, do some research ahead of time. That way, you'll be sure to get the best possible coverage at the right price. Here are some helpful tips to get you started:
1. Shop around
2. Never buy more coverage than you need
3. The healthier you are, the better the rates
4. Buy sooner rather than later
5. Realize the importance of periodically reviewing your coverage
6. You don't necessarily have to pay a commission
7. You may be paying more for monthly premium payments
8. Don't rely solely on the life insurance offered by your employer
9. Tell the whole truth and nothing but the truth
10. Buying more is sometimes cheaper
Shop around
When it comes to life insurance, it pays to shop around because premiums can vary widely. And thanks to the Internet, it's now easier than ever. Try out one of the many insurance websites that can provide you with instant quotes. Make sure the website you shop from takes into consideration the factors in your medical history that can affect the premiums.
Never buy more coverage than you need
The key to purchasing the right amount of life insurance is to have just enough coverage to meet your needs. If you have more life insurance than you need, you'll be paying unnecessarily for higher premiums. On the other hand, it's important not to have too little coverage, resulting in you being underinsured.
The healthier you are, the better the rates
It's true – healthy people get better rates on life insurance. You will be asked to pay a higher rate for anything that shortens your life expectancy (e.g., if you smoke, take medications regularly, are overweight, have a bad driving record).
Buy sooner rather than later
If you've been putting off purchasing life insurance because you don't want to pay the premiums, you may be doing yourself a disservice in the long run. The younger you are when you purchase life insurance, the lower your premiums will be.
Realize the importance of periodically reviewing your coverage
Any life change signals the need for a review of your overall financial plan. When it comes to life insurance coverage, you'll want to make sure that this major life event (e.g., birth of a child, children are grown) won't leave you underinsured or overinsured.
You don't necessarily have to pay a commission
One of the reasons for higher premiums is that most life insurance policies pay commissions to the agent/broker. However, you may be able to purchase a no-load policy through an insurer that sells no-load policies directly to consumers.
You may be paying more for monthly premium payments
You may not realize it, but you may be paying more for your life insurance if you pay your premium in monthly installments. Many insurance companies charge extra fees if you make monthly premium payments instead of paying the annual premium.
Don't rely solely on the life insurance offered by your employer
Many employers offer their employees some sort of group life insurance. But this amount of coverage is usually not enough to adequately meet your life insurance needs. In addition, group life insurance policies are not portable, meaning that if you leave your job, you can't take your life insurance coverage with you.
Tell the whole truth and nothing but the truth
If you're thinking about lying on your insurance application, think again. If your insurance company finds out that you lied about a health-related condition or your lifestyle (e.g., smoking habit), they may be able to terminate your coverage.
Buying more is sometimes cheaper
Life insurance usually costs less per thousand dollars once you get into higher coverage amounts (e.g., $250,000). If the numbers work out, you may be able to pay a lower premium while increasing your coverage.
Sunday, March 23, 2008
auto buy insurance online
You SHOULD compare your rates and policy limits every two years...why you ask? Because things change, and usually they change in your favor. Your agent gets a bonus for signing up a new client, so when you first signed on with them you probably got a really good premium and great coverage.
As time goes by, the "new" wears off and you just become a regular customer to the insurance company, but to another agent you become a "bonus". Once the agent finds out you are shopping around they will usually do what ever it takes to get your new business.
You can shop around and go with a new company that is offering a lower price and better coverage, or you can contact your current insurance agent and tell them about your new findings. You should be able to lower your current premium or increase the coverage and still stay with the same company.
You don't have to strong arm your current agent, but you should let them know you are willing to shop around and compare their rates, and if needed you will take your business to another company if you find a lower rate, and I am sure you will.
TIP: I recommend you carry Rental Insurance. This is something you usually have to ask for, but trust me it is worth the very small amount they charge for it. Your car can easily be in the shop for 30 days waiting to be repaired. You will not have to pay the rental car bill if your policy has this coverage, it is cheap talk to your agent today to see if you are covered.
Shopping for a new or used car can be a daunting task. We have compiled some excellent articles to help you along in the car buying experience.
Free Cars !!! - How is it possible? Read the article and find out.
Online Car Buying Services - The skinny on online car buying sites.
Finding the Perfect Car for You - How to logically come up with the perfect vehicle for you.
Research - Research is key to getting the best deal on the car you want.
Making the offer - What to say and NOT say to get the best deal on a new or used car.
Closing the Deal - What to check before you sign and take delivery of your new car.
After the Sale - Good article on what to do after you take delivery of your new vehicle.
Buying from a Private Seller - How to check for previous accidents and get a good deal on a used car.
Warranty Choices - Aftermarket warranties can protect you from unnecessary car repair expenses.
All About Leasing - Auto leasing advice from the experts.
Cheap Auto Insurance Quotes - Online auto Insurance quotes
As time goes by, the "new" wears off and you just become a regular customer to the insurance company, but to another agent you become a "bonus". Once the agent finds out you are shopping around they will usually do what ever it takes to get your new business.
You can shop around and go with a new company that is offering a lower price and better coverage, or you can contact your current insurance agent and tell them about your new findings. You should be able to lower your current premium or increase the coverage and still stay with the same company.
You don't have to strong arm your current agent, but you should let them know you are willing to shop around and compare their rates, and if needed you will take your business to another company if you find a lower rate, and I am sure you will.
TIP: I recommend you carry Rental Insurance. This is something you usually have to ask for, but trust me it is worth the very small amount they charge for it. Your car can easily be in the shop for 30 days waiting to be repaired. You will not have to pay the rental car bill if your policy has this coverage, it is cheap talk to your agent today to see if you are covered.
Shopping for a new or used car can be a daunting task. We have compiled some excellent articles to help you along in the car buying experience.
Free Cars !!! - How is it possible? Read the article and find out.
Online Car Buying Services - The skinny on online car buying sites.
Finding the Perfect Car for You - How to logically come up with the perfect vehicle for you.
Research - Research is key to getting the best deal on the car you want.
Making the offer - What to say and NOT say to get the best deal on a new or used car.
Closing the Deal - What to check before you sign and take delivery of your new car.
After the Sale - Good article on what to do after you take delivery of your new vehicle.
Buying from a Private Seller - How to check for previous accidents and get a good deal on a used car.
Warranty Choices - Aftermarket warranties can protect you from unnecessary car repair expenses.
All About Leasing - Auto leasing advice from the experts.
Cheap Auto Insurance Quotes - Online auto Insurance quotes
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