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Here's A Little Trick That Is Worth Sharing
I'm going to back up here for just a moment. After you have gotten your 5-10 quotes from different Insurance companies, and these quotes range from $300 to $600 per year. You now select the five Insurance companies that gave you the highest quotes. You send these highest five Insurance companies the four lowest quotes you received. They WILL compete for your business. (Keep in mind that they want you as a life long customer). At least one of these 'highest bidders' will beat that lowest quote you were given.
Most Insurance companies have 'Underwriters'. When requesting a quote from an Insurance company, it is important to ask how many underwriters they represent. (Underwriters are the actual companies that pay the claims; an insurance company just sells you the policy and gets a cut of the premiums.) Request multiple quotes from them as well. This will assure you many different quotes from each Insurance company. (One Insurance company with 10 underwriters will get you 10 quotes). DON'T BE SHY! Make them fully aware that you are comparing many different life insurance companies.
Once your list of quotes is narrowed down, your next step should be to contact each of the remaining Insurance companies and ask what type of assistance they offer. For instance, will they help you with filling out forms, filling out applications, beneficiaries, etc? Any paper work that may be involved. And pay close attention to how each and ever Insurance Company you are dealing with is treating you. Are they not as helpful as you would like? Are they slow in getting back to you or answering your questions? If that's the case, don't waste your time with them. Check them off your list and move on to the others. If you're not 100% happy with the way they are treating you now, imagine what they may treat you like once they have your hard earned money.
NOTE: If you are obtaining quotes to supplement an existing life insurance policy that you already have, you may want to consider refinancing your old policy first. Here's why. Competition between Insurance companies is 'dog-eat-dog'. And with the increase in age expectancies, the rate could end up to be half as much as your existing policy.
EXAMPLE: Let’s say that your existing life insurance policy was purchased 20 years ago. Your premiums are $800 per year. However, with falling prices and competition between companies, it is likely that you could get that same policy today for only $400 per year. So when you refinance your old policy at today’s rates, you could possibly double your coverage without any additional cost. Think about it. It is no different than refinancing your home when the interest rates drop. Trust me. Insurance companies don't want customers to know this little secret. Why should they? They'll happily let you pay the full $800 per year. They won't openly offer you a refinancing option. You have to take the initiative and request it. Keyword here...ALWAYS ASK QUESTIONS.
Let's keep it going, on to the next page
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