Online quotes are very popular these days and they have advantages
and disadvantages. The online quotation forms although quite
comprehensive, are not definitive. This means that even if you
completely fill out the form as honestly as possible, there may be
information missing which will change the eventual price of the policy.
It is important to note then, that these prices cannot be assumed as the
final quotation price.
One common part of any life insurance policy is the medical examination. This will usually need to be done (unless otherwise stated) in order to prove that the person is insurable and does not have any serious or life threatening medical issues that would render them high risk to the insurers.
It is vital when comparing life insurance quotes that you can clearly see the differences between what is on offer. As you can imagine, with companies competing for your business they are not all able to lower their prices whilst offering exactly the same package. This is why cheaper is not always better. It is very important for you to identify your specific needs, and ensure that these are met by the policy on offer.
You need to make sure that the underwriting of the policy matches up with your needs. One company may offer insurance to someone who has previously had cancer whilst another may not. One company may insure pilots whilst others may not.
There are many reasons why your quotation may seem higher than you expected. These include things like weight to height ration (which indicates general health level), high blood pressure, family medical history, high cholesterol levels, poor driving history and participation in hazardous activities. All of these things affect you risk rating to the insurer.
Another thing to make sure you understand is the terms of payment of the premium and any clauses to the policy. Payment terms may seem cheaper with one company than another but it is not always clear cut so it is best to make sure.
The best advice when it comes to understanding quotations is to speak directly with the company providing the insurance. If you have any questions then you can ask them directly and make sure that you are happy in understanding the response. It is also a good idea to get email confirmation of any queries raised over the phone so that you can be clear about what was said. It is a very important purchase and you need to ensure that you are completely happy with your choice of insurer and 100% clear about what is on offer.
One common part of any life insurance policy is the medical examination. This will usually need to be done (unless otherwise stated) in order to prove that the person is insurable and does not have any serious or life threatening medical issues that would render them high risk to the insurers.
It is vital when comparing life insurance quotes that you can clearly see the differences between what is on offer. As you can imagine, with companies competing for your business they are not all able to lower their prices whilst offering exactly the same package. This is why cheaper is not always better. It is very important for you to identify your specific needs, and ensure that these are met by the policy on offer.
You need to make sure that the underwriting of the policy matches up with your needs. One company may offer insurance to someone who has previously had cancer whilst another may not. One company may insure pilots whilst others may not.
There are many reasons why your quotation may seem higher than you expected. These include things like weight to height ration (which indicates general health level), high blood pressure, family medical history, high cholesterol levels, poor driving history and participation in hazardous activities. All of these things affect you risk rating to the insurer.
Another thing to make sure you understand is the terms of payment of the premium and any clauses to the policy. Payment terms may seem cheaper with one company than another but it is not always clear cut so it is best to make sure.
The best advice when it comes to understanding quotations is to speak directly with the company providing the insurance. If you have any questions then you can ask them directly and make sure that you are happy in understanding the response. It is also a good idea to get email confirmation of any queries raised over the phone so that you can be clear about what was said. It is a very important purchase and you need to ensure that you are completely happy with your choice of insurer and 100% clear about what is on offer.
No comments:
Post a Comment