By Chimezirim Chinecherem Odimba
Good life insurance agents don't usually pitch life insurance to prospects. They do their utmost to sell it in light of its benefits such as mortgage protection or retirement plan. However, if it has a life insurance component in it, it's life insurance, period. That is, if it promises to pay something when or if you die.
A life insurance agent, like anyone else who sells anything, shows you the very best sides of the product or service being sold. It's your responsibility as the buyer to ensure you know the downsides too.
For example expect agents selling a whole life insurance policy to stress the tax-free accumulation of cash value. It's only if you ask well that you'll find out that although a whole life insurance policy offers such a benefit, it also has it own downsides like high commissions and penalties for cashing out early.
Don't buy any life insurance until any doubts are cleared. Know what you stand to gain and what you stand to lose. Take out some time to visit sites by life insurance experts and you'll be able to make more informed choices.
There are documents that an agent is bound by law to give you prior to signing a policy. Ask for your policy summary and do make sure you read through and understand it before you sign.
A free look period is something your insurer is bound by law to give you. You are free to terminate a life insurance contract within this period for a full refund. If you think a policy isn't right for you, return the policy to the insurance company by certified mail within the specified free look period.
Finally...
You can get the best rate for your preferred life insurance policy by getting and comparing life insurance quotes from up to five or more sites. You can save hundreds (or even thousands) of dollars by doing this. It will take you just a few minutes per site.
Here are my favorite sites for life insurance quotes...
Free Affordable Life Insurance Quotes
Hometown Life Insurance Quotes
Chimezirim Odimba writes on life insurance.
Article Source: http://EzineArticles.com/?expert=Chimezirim_Chinecherem_Odimba
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1 comment:
Planning for a life insurance policy is the most important and crucial decision in a person's life as one has to consider so many factors before start looking for a plan that best fits to the needs. An agent will help out in suggesting what is right but online is the best way to obtain a cheap plan.
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