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List
price guarantee here
Then
Your
Investment in life insurance:
How much is this going to cost?
Do insurance companies offer a money-back guarantee? Yes
they all offer a full refund. If, for whatever reason,
you decide to cancel your application you can do so
without any questions asked up to xx days after you have
received your policy.
What will my Insurance Premium be after I have finished
paying the initial period of guaranteed Insurance
Premiums?
If your insurance is renewable then you will only ever
pay up to the guaranteed maximum renewal premium. This
maximum will be stated in your insurance policy.
Your insurance policy will also list the current renewal
rates. These are not guaranteed to remain the same each
year but they give you an idea of what your insurance
renewal cost will be. They may go up or down each year
but your renewal premium will never be higher than the
guaranteed maximum.
You may have heard of the term "re-entry" in a
favorable way. "Re-entry" is when a policy
holder comes to the end of their initial guarantee
period and reapplies for new insurance coverage with a
new period of guaranteed rates - just like starting a
new policy but paying out a lower insurance premium than
the guaranteed maximum renewal rate. You only qualify
for "re-entry" if your health is still good.
We would caution you about this 'renewal' option because
you can not guarantee that your health will be as good
when you come to renew your insurance policy. If it's
not, and you chose this option following a short-term
policy, you will be stuck with paying horrendously high
premiums or loosing your insurance cover. Also renewal
insurance rates may seem low but if you viewed them
without seeing the current and maximum renewal rates (as
discussed above) you may make completely the wrong
assessment. This is not a practice that
InsuranceClick.com condones and is considered deceptive
by the insurance industry.
So remember, it is much safer to go for a term life insurance
policy with as long a term period as possible. In other
words one that truly matches the length of time you need
it for. If it's 20 years you need don't go and get a 15
year term rate thinking you will renew for the remaining
5 years at a rate that will equal it or be less. The
probability is that it won't be less and then you are
left paying a much higher premium - something that will
definitely make you feel really ill! And could more
importantly effect your future financial security.
Is there any way I can protect the payment of my insurance
premium in the event that I become totally disabled? You
can take out an extra optional feature called
"Waiver of Premium" when you first apply for
your insurance policy. If you opt for the "Waiver
of Premium", and you become totally disabled, your
insurance company will pay your insurance premium for a
period of 6 months or more. The insurance company will
stop paying the insurance premium when you are no longer
disabled.
If I get sick or I'm injured, will the insurance company
cancel my insurance policy? Absolutely not, the insurance company can not cancel
an insurance policy due to ill health. And what's more
you do not have to prove to the insurance company that
you are still in good health to renew your insurance
policy each year.
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