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Thursday, 14 October 2010

Advice on Buying Life Insurance

Again, do not buy it. Your employer may offer some free, if not usually cover more than a year or two dollars in salary. You may be able to buy more, but, unlike disability insurance, deals are often not very good here and I could probably do better yourself.

If you already have a relationship with an insurance company and check with them to see if they offer a discount for bundling services. Or you can search our directory of insurance companies are first mentioned here, or choose an insurance agent here.

Insurance brokers often push all life insurance policies because they are paid better commissions for selling policies. But remember what I said and stick to your guns - Term life insurance policies make more sense for most people (unless you're rich mother, wrinkled or sugar daddy).

If you are young and relatively healthy, you should be able to collect one million dollars of coverage for a $ 50 per month. It is good to buy, all in good condition so that you can lock these rates down. But do not even pretend to be younger and healthier than you are. If an insurer discovers that you lied (and they have investigators) so that your policy will be canceled.

Before getting a policy, the insurance company to send someone in your home to take his blood and urine in a cup. If they find something even remotely strange going to raise your rates first and ask questions later. So you really have to be in perfect health to obtain the lowest possible rate, as you see advertised in magazines all the time.

One last thing: what you can send money to your insurance company life of 20 years or more, take a quick look at the financial stability of the company before buying a policy. There is no guarantee that the sites as the number of AM Best, Fitch Ratings, Moody's and Standard & Poor's does not miss anything important, but it is better to want to end up with an insurance company that all rating agencies believe it is a kind of poor quality.

It is very common for an insurance company to go bankrupt. However, its policy is probably going to be okay, even if your insurer. Under the Act, holders get their money before other creditors are paid. In addition, insurance companies have established reserve funds called state of local Guarantee Fund, another form of protection. Usually, the life insurance benefits extend death value of $ 300,000 of coverage of these funds. Brett Arends wrote about these protections during the collapse of AIG.

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