Insurance Premiums

Although it makes sense to get in touch with a life insurance company to cover your dependents in the eventuality of your untimely death, there are integrity issues surrounding the insurance companies and agents. Broadly there can be 3 ways your life insurance company is scamming you. We have enlisted them for your benefit.

Term Life Insurance Policy
Selling Coverage that you don't need!
The insurance companies thrive on the fact that most people don't understand their life insurance needs. With standard products, they try to sell you coverage that you might not need, but, which are lucrative for them. The insurance agents expedite the process so that you skip the fine print and sign up for a coverage that is ill-suited to your needs. The trick is to play on your fear factor and sell you heavy insurance, even if you don't have dependents.

Broker (1) A commissioned sales agent who is under contract to and sells the insurance products of more than one insurance company. (2) For a career agent, to submit insurance applications to companies other than the agent’s own company. Bundled Insurance Product A life insurance product in which the mortality, investment, and expense factors used to calculate premium rates and cash values are not identified separately in the policy. Traditional whole life insurance is an example of a bundled insurance product.

Life Insurance
Coaxing you to pay 'Cash'
We strongly suggest, do not pay your premium through cash to an agent. Further, do ensure that you get a receipt for the payment. There are numerous fraudulent entities posing as genuine insurance agencies that extract hard cash from you in lieu of insurance premium. They ask you to sign at blank spaces in a form, assuring you that it is just a formality. Once you have fallen for their trick, you are left without an insurance coverage. The worst part is that most victims only come to know of this scam, when they have met with some mishap and there is not insurance to cover them.

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Insurance Life Premium
Luring you with benefits!
Insurance agencies and agents have a way of promising you unbelievable benefits out a life insurance policy. Life insurance agents might offer you plans, with a guarantee that the policy would run premium-free for a specific period. Some agents play it smart and offer you great discounts for signing you up for a new policy, while replacing an old policy. The trick is that the old coverage gets terminated and new coverage does not get initiated due to the cumbersome procedural bottlenecks. Thus, exposing you to risk without cover.

One major company offers a rider to a certain whole life insurance policy which allows the insured to increase their life insurance coverage by purchasing up to $100, 000 on each of 9 option dates between the insured's age 22 and 46, for a total of $900, 000 of additional guaranteed future insurability! If life insurance waiver of premium is included and the insured is totally disabled on an option date, the options can still be exercised. As long as the total disability continues, the insurance company will pay for the premium on the policies!

Health Insurance Policy
John Castanella recommends that you visit http://www.instaquoter.com/life/ for an online life insurance quote.

Compare the best auto insurance companies and get the best auto, home, health, life insurance quotes online.

Health Insurance

Getting a term life insurance quote online is the easiest way to find out what types of life insurance policies and prices your qualify for. At AccuQuote, rated insurance companies. Any insurance company in business can offer great prices. The question to consider is, Will they be around in five years You can depend on the term life insurance recommendations by AccuQuote.

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