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General Questions: |
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What factors should I consider when purchasing an insurance policy? |
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There are many things to consider when purchasing an insurance policy. Here's a quick checklist... Review your insurance needs and circumstances.
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Comparison shop. Contact several companies and/or agents to compare benefits, coverage, exclusions, and premiums. |
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Be sure the insurance company you are considering is financially stable. |
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Do not make any quick decisions. Request a copy of the policy and compare it with policies from different insurance companies. |
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Be sure your application is complete and accurate, including all of your medical history, if applicable. |
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Do not pay in cash. |
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Your policy should arrive within 60 days. If you do not receive it, contact the company or agent. After you receive your policy, reread it to be sure everything is correct. Your broker or the insurance carrier should explain any terms that are not clear. |
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Life Insurance : |
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What Is Life Insurance? |
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Life Insurance is a financial resource for your loved ones in the event of your death. Insurance carriers offer Life Insurance in various forms and different volumes depending on your needs. Your premium payments will depend on many factors including your age, sex, medical history and what type of policy you are applying for |
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How much Life Insurance do I need? |
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The amount of Life Insurance that you will need will depend on your personal, financial circumstances and your family's needs. The ability for you to earn an income is your family's greatest asset. When that asset ceases to exist, your family’s current and financial future is at risk. For more information try using this calculator: How much life insurance do you need?
and How much Is your life worth to your family? |
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How often should I review my Life Insurance needs? |
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You should review your Life Insurance needs at least on an annual basis. Of course, if you get married, divorced, have a baby, retire, receive an inheritance etc, the need to review your Life Insurance protection could be more frequent. The best rule of thumb is an annual review, unless there has been some sort of life event change with you and your family. |
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Long Term Care Insurance: |
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What is Long Term Care (LTC) Insurance? |
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Long Term Care Insurance is not something we ever want to think we will need. However, the truth is 60% of those reaching age 65 will need some form of long term care due to a disability or illness. In fact one third of those currently receiving LTC Benefits are under age 65. If you are not prepared for the unexpected, you could be financially devastated. |
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Who provides LTC services? |
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You can receive LTC services in your home; at an assisted living facility, an adult day care center or a nursing home. |
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I am only 25, why should I purchase LTC coverage now? |
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When you purchase LTC coverage at a lower age, you receive the following benefits. First you will pay a lower premium, and overall you will most likely pay far less in total premium outlay. Most importantly, you will avoid the risk that you won't qualify later, once a condition has developed. |
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Other Questions: |
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Is there any benefit to utilizing an insurance broker? |
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Finding A Broker is Important Because:
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Reviewing and purchasing any insurance product can be a complicated procedure, even if you have done it before. |
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The ever-changing State and Federal legislative mandates that apply to all insurance products make the need for a licensed, qualified Insurance Broker almost necessary. |
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A broker represents you, not the insurance company, and has access to many companies. |
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He, or she, is knowledgeable about various products and companies and can present several options for you to choose from. |
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You should understand the policy provisions, exclusions and associated premiums. |
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Your broker is there to explain coverages, answer questions, and help you with any claims that may occur. |
If you are in need of a broker/agent, you may perform a search by your zip code under the FIND A BROKER tab on this website. |
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What does this insurance term mean? |
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Click here - to review an extensive insurance industry glossary. |