Top Ten Life Insurance Blunders

Blunder #9 - Sticking with an old policy...

The insurance business is highly competitive, and insurance companies are constantly adjusting their rates. It's not at all uncommon to find that you can replace an existing policy and save money on your premium. It pays to shop around. Maybe your current carrier is the company you shouldn't keep.

Blunder #10 - Failure to exercise patience

Let's say you found an agent you like, and he or she helped you wade through the carriers and their offerings. You worked out the right amount of coverage, the right kind of insurance, and you have a pretty good idea where the underwriter will rate you. You completed an application. The paramedic showed up at your office, took a sample, weighed you and got the answer to a bunch of questions. The application is pending.

A couple of weeks go by and you hear nothing. This is the point where you need to exercise maximum patience. From here the process typically takes four to eight weeks. If the process drags on call your agent. If it takes longer than eight weeks, you may want to move your application to a different carrier. There's no excuse for poor service.

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