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7 Questions you must ask when you inquire about life insurance
Home Autos & Trucks Insurance
By: James Elbaum Email Article
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A life insurance policy is a testament to your love and concern for the welfare of your family in the event that something happens to you and you will no longer be around to provide for them.

There are seven important questions you have to ask to determine the type of policy that will be most beneficial for you and your family and will give the highest return on your investment.

1. Why do I want to get life insurance? There are straight life insurance policies where your family will get the proceeds upon your death. There are also endowment types or term insurance policies where you will get some money after a certain number of years, for example, 20, 30 or 40 years. There is term insurance with a lower premium but will pay out only if you die.

2. What are the types of insurance policies to choose from? Insurance policies may be individual or group life insurance policies.

3. How can I upgrade my life insurance policy? You have to determine first if your insurance policy is flexible and can be converted, then you ask your insurance broker to get it upgraded.

4. How much will my premiums be? Your premium is the cost of regular payments on your policy. This will be computed by the insurance company according to your age and other factors.

5. What is included in my life insurance policy? Make sure you talk this at length with your insurance broker or insurance company. The inclusions will affect the cost of the premium you have to pay.

6. What are the features of my life insurance policy? Life insurance policies have different features, which you have to study thoroughly. An example is the naming of your beneficiary and the changing of your beneficiary when you feel the need to do so.

7. What is involved in the life insurance application? Some insurance companies will require you to undergo a medical examination to find out if you are eligible to purchase an insurance policy. The results of the medical examination will also be a factor in determining your premium.

James Elbaum - President at LowInsRate.com, Inc

http://lowinsrate.com/

James Elbaum helps individuals achieve a more secure future by working to understand their situation, and looking to build a relationship that will serve their needs over time. Please let James know how he might be able to help you realize your vision for the future.

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