Switching Life Insurance Coverage Fort Lauderdale Florida FL
Reader’s Question:
I have had a life insurance policy I’ve been paying for quite some time now here in Fort Lauderdale, Florida, but I’m seeing much more affordable life insurance quotes from other companies lately, should I switch carriers?
Heathe
Fort Lauderdale, FL
As a customer, you have every right to enjoy the most competitive rates and offers available. In fact, with the kind of economy the whole world is going through right now, you might say it is quite necessary to re-assess your expenses and find out how to cut corners effectively. however, you may want to evaluate all of your options first before jumping to another company, especially when it comes to your life insurance coverage there in Fort Lauderdale, Florida.
Here are a few things to consider before switching life insurance carriers, remember that just because something is cheap doesn’t mean it is the best:
• Your age has a direct impact on how competitive of a coverage you can expect to get. The older you are the more expensive premiums are likely to get, even with the most competitive insurance carriers. You might end up paying more by switching to a new company as compared to if you stayed with your old one, because of your are older now.
• Would the new insurance policy have the same or better coverage than what you already have? You don’t want to end up with less than what you started with.
• How long is the policy’s “Contestable Period”? This basically refers to the holding period of your policy where an insurance company might opt not to pay the death benefits should you die within this time frame. (This is to protect insurance companies from fraud or those who decides to get insurance before committing suicide).
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