When someone passes away and the insurance company pays a certain amount of money to their loved ones, the recently departed had life insurance. There's no denying the fact that this is an important type of coverage, as it protects not only the insured but their families as well. Robert Jain, as well as other authorities on finance, can tell you that some types of insurance are better than others. With this in mind, here are the do's and don'ts that will help you obtain coverage you can trust.
DO determine your coverage ahead of time. How much money do you have to contribute to obtain life insurance? While you may want to go with whatever your coworkers contribute, understand that your needs may vary. This is particularly true when you consider such variables as dependents and income. By asking questions about such variables, you'll eventually be able to sign up for a life insurance plan that names such as Bob Jain can approve of.
DON'T forget that life insurance comes in numerous forms. For example, level term life insurance is structured in such a way that the death benefit remains the same throughout. On the flipside, decreasing term life insurance is set up so that the aforementioned benefit drops from time to time. It may be difficult to decide which plan is best for you and your family, so feel to ask your agent for clarification on the matter.
DO see your doctor beforehand. Even before you place pen to paper during the life insurance enrollment process, see your doctor. There's a possibility that there are medical complications or concerns that haven't been observed beforehand. It's never a bad idea to see your doctor, even if your goal is to simply ask them about life insurance and what they recommend. This will make it all the easier to sign up for the plan you need.
DON'T change insurance plans without carefully evaluating what you're dropping. You must also thoroughly research the plan that you're interested in enrolling in. After all, there's a possibility that it won't have everything that you want, which means that you may be better off sticking with what you have. If you're considering changing plans or even carriers, assess the matter with care. Your financial situation will be better off for it.
DO determine your coverage ahead of time. How much money do you have to contribute to obtain life insurance? While you may want to go with whatever your coworkers contribute, understand that your needs may vary. This is particularly true when you consider such variables as dependents and income. By asking questions about such variables, you'll eventually be able to sign up for a life insurance plan that names such as Bob Jain can approve of.
DON'T forget that life insurance comes in numerous forms. For example, level term life insurance is structured in such a way that the death benefit remains the same throughout. On the flipside, decreasing term life insurance is set up so that the aforementioned benefit drops from time to time. It may be difficult to decide which plan is best for you and your family, so feel to ask your agent for clarification on the matter.
DO see your doctor beforehand. Even before you place pen to paper during the life insurance enrollment process, see your doctor. There's a possibility that there are medical complications or concerns that haven't been observed beforehand. It's never a bad idea to see your doctor, even if your goal is to simply ask them about life insurance and what they recommend. This will make it all the easier to sign up for the plan you need.
DON'T change insurance plans without carefully evaluating what you're dropping. You must also thoroughly research the plan that you're interested in enrolling in. After all, there's a possibility that it won't have everything that you want, which means that you may be better off sticking with what you have. If you're considering changing plans or even carriers, assess the matter with care. Your financial situation will be better off for it.
About the Author:
Kindly contact Bobby Jain for further information about insurance and finance as a whole.. Free reprint available from: Life Insurance Do's And Don'ts That Robert Jain Can Offer.
No comments:
Post a Comment