What You Need To Know Before Looking For A Life Insurance Policy.
A life insurance policy is fundamental especially to those who are concerned about the financial future of their families, visit http://highrockins.com. There are many things you need to consider when looking for a life insurance policy in Reno, check out High Rock Insurance – Life Insurance. You need to know the following before looking for a life insurance policy.
Don’t be fooled by online quotes
Most of the quotes you see online do not apply to you unless you are extremely healthy. Always remember that the premium you will pay has nothing to do with the initial quote you get online or from an agent. Life insurance policies are based on your health and your age.
Most life insurance companies in Reno have several health and price ratings, and no website or agent can assure you that the quote they are giving you is accurate. Why? You have to undergo a health check, go through underwriting and then have the insurance company check your doctor records and reviews to get the real price of your life insurance policy.
A health rating will also factor in things such as driving record, family history and your type of occupation. Quotes should only help you narrow down your choices.
Look for a good life insurance agent
It is usually a good idea to choose a life insurance agent who deals many life insurance companies and ask them for a quote showing the quotes of various insurance providers. Some people cut the officer out and just apply online.
However, remember that you don’t save any money this way as the commissions earned by the agent are kept by the insurance company or website insurance company and avoiding the insurance agents will not lower your premium.
Plus a good agent will help you maneuver through some of the complexities such as filling out applications, setting up your beneficiaries, help you avoid mistakes in choosing who should be the owner, help you know a good way of paying your premium, help you weigh the pros and cons of extra perks and riders and assist the beneficiaries of the life insurance in future.
Refinance your old life policies
Most life insurance providers in Reno will not tell you that the price you pay on your old policies has reduced dramatically if you are in good health. Life insurance companies have updated their predictions on life expectancy.
The companies have come to realize that people are now living longer and have reduced their rates dramatically. At times, you may be surprised to find out that some of the old policies may be twice as expensive as a new life insurance policy. Therefore, it is a good idea to refinance your old system and use the savings on old plans to pay for the new program.
Beware of extra perks and riders
Most life insurance policies come with options like child riders, accidental death benefit, return -of -premium, disability riders etc. However, if you do the math on most of these extra perks, you will come to realize that they don’t make any financial sense.
Keep in mind that most of the insurance companies in Reno are out to make money and these riders enable them to earn a lot as it may cover something that hardly happens, or the insurance provider is so stringent that the benefit may never be paid. Just look for a simple policy that will cover your life without unnecessary extras.