Life Insurance Secrets Revealed: 8 Vital Mistakes to Dodge for Ultimate Protection
Nothing may be more important for you to do today than applying for a life insurance policy. Sure, you can buy them a house or even get reliable transportation but nothing will replace you or the financial security that you can provide when you're gone. Navigating the life insurance application process requires careful consideration and attention to avoid potential pitfalls. Here are crucial mistakes to avoid when applying for life insurance:
BIG MISTAKE # 1: Thinking that you don't actually need the coverage
When's the last time you looked up how much a funeral cost nowadays? Do you know what it takes to even put a funeral together?? Now, imagine dumping that on your loved ones right after an event that will change them for the rest of their lives. This is what happens when someone dies.
And I know that we don't like thinking about it but it's going to happen. It's going to happen to you, it's going to happen to me, it's going to happen to all of us here on this planet.
The question is, how much do you want your family to suffer when you're gone? Do you want them to mourn you all while trying to figure out how to bury you? How are they going to come up with the thousands of dollars it's going to take to deal with YOUR final arrangements? We can help you figure that out.
Here at American Eagle Insurance, we help to care for your loved ones when you're gone. We have an entire program dedicated to sourcing funeral homes for you along with caskets and caterers. We are an all inclusive solution to your loved ones all at no additional cost but it all starts with life insurance.
BIG MISTAKE #2: Thinking Life Insurance is TOO Expensive
This is a big misconception. In fact, life insurance is about the only insurance policy that you can buy based solely on your budget. Buy what you can afford to buy today. When you can afford more, buy more. I ran a quote yesterday for a 43-yr old, non-smoking woman for $100,000 in coverage for $16.49 per month. Don't say that you can't afford it.
Treat your life insurance bill like you would treat your light bill, or your gas bill, or your house note - treat it like your family depends on it because without you, they truly will.
BIG MISTAKE #3: Fudging on your Application
Listen, they're going to find out anyway! If you have a pre-existing condition, just tell us. It helps us to find the best policy for you. At the end of the day, we want to get you approved for life insurance just as much as you do. Being honest on your application is paramount.
BIG MISTAKE #4: Skipping the Medical Exam (If Required)
Most of the policies that American Eagle Insurance Agency has to offer have no physical exam required, however, based on your age or pre-existing conditions, the life insurance underwriter reviewing your file may require one.
It's called a paramedical exam. It takes about 15 minutes. A nurse comes to your home or workplace to take your height and weight. The nurse will check your vital signs and take a blood and urine sample. It's quick, it's painless, and it's FREE!
BIG MISTAKE #5: Underestimating Coverage Needs
This one should have been #1. There's a huge risk involved when underestimating how much life insurance you will need. I mean, did you ask your spouse how much would be needed? It puts things into perspective.
What if you don't have a spouse or a family of your own yet? How much life insurance is needed? Talk it over with your parents or the loved ones around you.
Really, it all boils down to how much of a financial impact you have on those who are around you. Who relies most on your income?
Get enough life insurance to provide them with at least one year's worth of living expenses if you can afford to.
BIG MISTAKE 6: Not Reviewing the Policy Document
Great! You applied for life insurance. The policy came in the mail! Now, where do you store it??
Aw man, this one has got to be my favorite mishap because I do a lot of policy reviews and one of my biggest complaints is that my clients get their policies in the mail and shove them into a dark corner never to be seen again.
Our agency conducts policy reviews on life insurance policies every couple of years to make sure that nothing has changed or that no policy updates need to take place. We also review the coverage and answer any questions that you may have.
But please, for the love of your insurance agent, when you get your policy - READ IT. Every now and again, take it out of the drawer and READ IT. Know what you have. Because if you don't know what you have, how will you explain it to your family? Or, what's worse is thinking you have one thing when you have something completely different...
BIG MISTAKE # 7: Applying Without Professional Guidance
Maybe this one should have been first! Here's what you shouldn't do:
- Go online to do your 'research'
- Find a website that has quick, easy and fast coverage
- Apply without speaking to somebody
FAIL! Try again please. No, but seriously, talk to someone before pulling the trigger. If you aren't a licensed person or have never seen a life insurance policy physically in person before, let alone reviewed one, then please ask someone with extensive knowledge for assistance before moving forward. You will only be doing yourself a favor.
BIG MISTAKE #*: Waiting Too Long to Apply
The older you get, the more it will cost. The older you get, the more health challenges you will have. The older you get, the closer you are to death. Come on, you get the picture. The longer you wait, the more it will cost you for less coverage.
You will never be younger than you are today. Don't put it off another day. Now is the time. Click the link below to get a free life insurance quote today.