Things to prepare well before you sign a life insurance policy

Clearly define objectives The first thing you need to do before you get into life insurance is to determine the purpose of the policy. Answering the question "What does life insurance cover for?" Is a great help because it helps you determine where you are going with the insurance, as well as the benefits you get from it. what.

The greatest common purpose when having life insurance is to be protected, to share financial and health risks as well as to save and invest safely and effectively. It's different from buying for parents, which is a lot different than buying insurance for children. You want your parents to have a retirement age pension, so take care of your parents; You want to have a college fund for your child, bring it to your child through life insurance. Each package has its own unique characteristics, creating a unique benefit for the buyer. One more thing to keep in mind is that we should only join when we realize what we need, what practical values ​​we have, not others. drag, "nor is it because the acquaintance tells us that" life insurance is good, take life insurance. " Life insurance is like an item, but what it gives you is a lot bigger than the cost to own. Only when you see the item is necessary, and you want to have it for your long-term plans, you really should have it with you. Determine the amount for insurance Besides setting the purpose of life insurance, you need to pay attention to the cost of joining the insurance. This is very important, because it is directly linked to your spending plan. Having a life insurance policy to prevent misfortune is too good, but spending too much time will make you tired of sticking with it. There are two principles that insurance buyers need to keep in mind as the nails are tied up, which is the principle of "less than 10" and the principle of "greater than 1". Special deposit when the insurance contract is the amount of money suitable for income
"Smaller than 10" is the principle that helps you balance your expenses with an insurance policy: We only cover insurance when the premium is less than or equal to 10% of your income. No matter how much life insurance we love, we know exactly what insurance can bring to us, but no one wants to pay a huge premium. The principle of "greater than 1" gives you advice when you start with life insurance. You should have one or more complementary products for yourself, as there are more benefits, the cost is much lower than joining individual insurance. For example, you buy insurance to ensure your child's education is up to the age of 18 with a premium of about $ 20 million a year, but additional insurance coverage for parents is less than $ 1 million per year. People, while saving money for their children's college education, are equally protected, but the cost of parental involvement is much lower when compared to individual participation. "Greater than 1" has another meaning. That is, every person should have more than one life insurance policy. When you do not have a strong economic background, you can choose insurance with low face value. But the time changes, the higher the income, the greater your need, you can spend more money for life insurance. Now you can own a new life insurance policy, with other conditions and benefits increased. Of course, this rule applies only if and only if you adhere to the "less than 10" rule. Determine the time of participation Term of insurance is something that you need to think carefully before signing. We spend on insurance to buy peace, peace of mind, not worry, or wonder that long insurance coverage like this if we can follow it? Many people are afraid that: pay the insurance premium 10 years, 20 years to ever get money. Some people think that paying premiums for such long periods of time is too costly. You need to know that: taking life insurance for such a long time is not only not a disadvantage; on the contrary, it is a strength, the advantage of life insurance without any financial solution. Yes, that means you and your family will be guaranteed a longer stay. The benefits of life insurance in 10 years will certainly not be as much as the 20, 25 year contract. You want to be protected for a long time, even for life, but you do not want to pay for that period, so is not it so unreasonable? Maybe, you've been thinking about the situation, you are taking life insurance with a fixed fee, with such a long time, but unfortunately when personal finance problems, how to do? . Abortg is double damage, because both are not protected and can not get full insurance benefits when not expired. But if the finances are unstable, a policy now becomes a burden. If so, what to do?
At this point, the flexibility of life insurance demonstrates its superiority. You can ask the insurance company to pay premiums when you have financial difficulties, then you have the right to renew your contract, you can also reduce the face value of your life insurance policy for a fee. more appropriate, or even advance the return value to solve the problem is entangled. These are the unique benefits that many people may not notice. Identify information from multiple sources In addition to the above, you can also refer information from friends, relatives, people who have been insured. No matter what the circumstances of each person, but you can take them as clear, true and closest examples for reference. However, you should not rely on the advice, the stories you hear from friends, as mentioned above, although the reference value, but it is completely individual cases, Not a complete evaluation. You can hear this person say the insurance is good, the other said "no, do not join" because the same line but the insurance consultants working with them is different. So what to do? It is important that the information you obtain from the counselor is accurate to what percentage. What you need to do is verify the information from many sources, learn about the brand, the level of prestige assessment of the company, as well as confirm whether the agent you are exchanging with high reliability in advance. when signed in the insurance contract. Life insurance is good, and you always know that the sooner you get that day, the cautious it takes to spend a few days researching your products, services, and information. Obtaining is a must.