Choosing the right insurance policy from the bewildering choice of many right insurance companies is rather challenging. There will be around thousands of insurance companies that offer reliable products and services. Which one to choose from them? Here in my article, I have tried to list some common guidelines that can help you to manage with the selection of right insurance policy from various good insurance companies.
Insurance business is highly competitive. That is why you will find the products of one insurance company quite different from what the other company is offering. This gives the insurance companies an advantage so that the price is less of a factor in product selection.
If you are aware of exactly what type of cover you require, you can safely reduce your premiums by applying for the policy through any professional life insurance broker. The insurance companies standard premiums can be reduced by rebating the majority of the commission paid to the company. This will reduce your monthly payments below the premium you would pay by applying direct to the insurance company.
Put your smoking and any other alcoholic activity to a halt, at least for 1 year. The premium rates for smokers/alcoholics are 30-40% higher than for non-alcoholics and non-smokers. If you can think of quitting you will save hundreds on your premiums over the term of the policy.
Look for combined life insurance policies. This can make a big premium savings. Like if you are looking for term insurance and critical illness, you can buy it as a combined policy and pay out one lump sum rather than the two that you will need to pay to maintaining separate.
Just keep in mind these few things while buying an insurance policy and it will surely help you to save on your insurance premiums
Thursday, March 26, 2009
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