Finance Life Assurance

5 Tips You Should Learn About Assurance Life

Published at 03/03/2012 15:15:54


Loss of life has always been an issue, especially if the person involved is the sole provider of a family. However, assurance life is like the hand from the grave that provides for the family even after the individual is gone. It ensures that the individual involved can have peace of mind that there investment will help those who he or she leaves behind after death’s cruel hand has snatched him or her from this world.

However, there are owever some useful tips that one should always have in mind before settling for an assurance life provider.

1. One good idea to get the best deal out of your assurance life is to purchase it at the prime of your life. People who do not pose any health risks and are healthy usually pay less premiums on their insurance compared to people who are at death’s door because of old age or poor health.

2. Another idea for the individuals to learn about assurance life is that they should never tell lies as these will always follow them even after they lie deep in the ground. You may lie in order to get a higher claim for your loved ones, but this claim may not be settled in the end because even after you are gone, the insurance company will always investigate any information that you provided before they settle the claim. If your assurance life was based on lies, then you will lose as your beneficiaries will not benefit from your assurance life.

3. Get rid of habits that increase your risks and thus ensure that you pay more in terms of premium for your assurance life. Some of these habits include drinking and smoking which are considered to result in health risks that may lead to your death. Therefore, smokers and drinkers pay more premiums in assurance life than non-smokers and teetotallers, and even if you don't disclose your bad habits to the insurance comany, they might conduct their own researchers in this matter.

4. You should always do your homework in order to find out all the basic terms when it comes to assurance life as well as the different quotes out in the market. There are very many assurance life brokers and providers and if you do your research, you are likely to find one who will be able to satisfy your needs at a reasonable price. With the internet, this research has been made so much easier and buyers no longer have an excuse for not finding out more about assurance life.

5. You should always ensure that you write a will and include this insurance in trust in order to ensure that your loved ones are not charged high taxes when this claim is settled. This will help you to protect your loved ones from the whole process when you pass away, and they can be able to get the assurance life which will help them cope after you are gone.
For anyone who has any dependents, it is important to consider getting an assurance life policy as this is the only way you will be able to protect them, especially if the unthinkable happens before they are able to get on their own feet.