Are These Insurance Plans Worth The Risk?Article Posted by Expert Author: Adam Foley on 04/08/2013
No matter which life insurance company you end up choosing, you will likely have to compare life insurance companies at some point. As you compare, you'll discover that most companies offer similar plans. But just because some plans are common, doesn't necessarily mean that they will make sense for you.
You may have seen guaranteed issue life insurance advertised. It appears to be popular because there is no risk of being turned down for coverage. But you may very well pay much higher premiums, and your loved ones may receive a much lower death benefit than you planned for.
Those who tend to be away from home a lot may consider getting accident or travel insurance. And this one is often a no-brainer, as this type of insurance is very cheap to obtain. However, many don't think about why it's so cost-effective: the fact that most people safely arrive at their destinations. An alternative to paying monthly premiums for accident or travel insurance could be in a pay-as-you-go solution, where you visit your local insurance agent and purchase coverage only for the time you plan to be away from home.
No matter what type of coverage you require, make sure you understand the policy benefits as compared to the cost of the plan, so that you understand what you do and do not get for your money.
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