Life Insurance Purchasing Tips
Things to Consider when Purchasing Life Insurance
Considerations to Keep in Mind
- Take your time. Make sure you fully understand any policy you are considering and that you are comfortable with the company and product.
- After you have applied for an insurance policy, keep in mind that you have a "free-look" period usually 10 or 20 days after you receive the policy during which you can change your mind. During that period, read your policy carefully. If you decide not to keep the policy during this free look period, the company will cancel the policy and give you an appropriate refund. Review the copy of your application contained in your policy. Promptly notify the agent or the company of any errors or missing information.
- Review your policy periodically or when your situation changes to be sure your coverage is adequate.