Friday, 29 June 2012

7 things must remember about life insurance policy

We know the importance of a life insurance coverage policy as we want to make sure that our loved ones are taken care of when we die. But do some research so you'll be sure to get the best possible coverage at the right price. Here are some helpful tips: 


1. Purchase for your a life insurance coverage


2. Never go for more insurance cover you actually do not need


3. Join an insurance policy as soon as possible


4. Know that you must check your insurance cover


5. Monthly premium pays more than an annual premium


6. The life insurance offer by the employer may not give enough life cover 


1.CHOOSE YOUR LIFE INSURANCE 


It is better to look around for choose a good life insurance coverage policy, because there are various life insurance products and life insurance companies. And thanks to the Internet, it's now easier than ever. Make sure the website considers the factors in your medical history that can affect the premiums. 


2.GET THE MOST WANTED LIFE INSURANCE FOR YOU 


You must choose the right life insurance policy which is enough to meet your life insurance needs. When you join with a life insurance policy take enough life coverage which could satisfy the financial needs of your family  at the event of your untimely death. 


3.HEALTHY HABIT REDUCE YOUR PREMIUM 


A healthy person gets less premium that unhealthy person. Smoking, frequent medication, over weight etc attract high premium and high insurance cost. So avoid smoking and such unhealthy habits and cut your over-weight, do regular exercise and keep a good driving habit and enjoy low-cost life insurance. 


4.JOIN A LIFE INSURANCE POLICY WHEN YOU ARE WELL 


Purchase a life insurance policy only when you are in good health. If you are not well you have to complete more medical checkups and your insurance cost may be high. Your insurance policy application may reject when you are suffering fromsome kind of illness.


5.REVIEW YOUR LIFE INSURANCE COVERAGE REGULARLY 


Review and renew your life insurance coverage when there is any major event in your life such as the birth of a child, marriage, divorce, death of a family member etc. You can increase or decrease the insurance cover and can manage your insurance cost. 


6.MONTHLY LIFE INSURANCE PREMIUM COSTS MORE 


Almost all life insurance companies allow you to remit your insurance premium in monthly, quarterly, half-yearly or annually modes. But if you analyse the premium table you can easily understand that the monthly insurance premium mode pays more than other payments modes, When the number of premium reduced the total cost of insurance also reduced. So if possible go for an annual premium or half-yearly premium. Do you know that one time insurance premium pays very less than other options. 


7.GROUP LIFE INSURANCE POLICY OFFER BY EMPLOYER 


Avoid such group life insurance premium offer from your employer. As a group life cover you could not get enough life cover. And if you change your job you could not bring your life cover form such a group life insurance policy.


Totally you must plan your life insurance policy and life cover. This is for the protection of your family. If you die at once your family may fall into uncertainty and financial dilemma. If you act wisely to join a suitable life insurance policy, you can lead a peaceful life here in this world and even the other end of the world.


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1 comment :

  1. Ola! Jerry Jose,
    This question may be a little off-topic, Purchasing life insurance is one of the best ways to protect your family financially. This will give your loved ones the financial security they ought to have in case you pass away suddenly. It sure is nice to know that they will still be able to go on with their lives comfortably even when you're gone.
    Keep up the posts!

    ReplyDelete