How to hire life insurance without having surprises at the end? That’s what we’ll talk about in today’s article! Here we list the 7 most common mistakes when hiring life insurance;
Taking out Life Insurance is essential nowadays for the financial health of your loved ones and for yourself. Life insurance is ideal for you to have a clear conscience regarding the unforeseen events that life can bring us.
There are many people who make mistakes when purchasing Life Insurance that can get in the way. That’s why it’s important that you pay attention to how policies work, avoiding mistakes that are very common.
See now the 7 mistakes most people make when taking out life insurance and learn how to avoid it;
7 common mistakes when buying life insurance
1 – Not knowing life insurance coverage
This is the most common mistake made by people who buy life insurance. Many people believe that the amount provided by the broker will accurately show the amount that will be paid to the beneficiary in the event of death or disability. However, the payment schedule has a number of variables, such as the cause of death of the insured – the greater the age or the greater the risk of a fatal accident, the lower the insured amount.
Therefore, when taking out life insurance, ask for detailed information on how to take out coverage in cases of death and/or disability.
2 – Not knowing the life insurance broker
Any product we want to buy needs a good and reliable seller, right? So why would life insurance be any different? That is why many people are deceived by companies that do not provide quality services or do not have the necessary information.
Look for brokers that are integrated in the market; ask friends and relatives who already have life insurance about the policy management of the company they hire; sites like CLAIM HERE will show you which brokers are the claim leaders, thus reducing the possibility of you being scammed.
3 – Take out insurance without anyone knowing
Can you imagine taking out life insurance without anyone knowing? Well, this attitude is not uncommon and can cause many problems for beneficiaries, especially if the volume of the policy is large and the contracted company is not very reliable. That’s why it’s important to let people close to you know about your hiring.
4 – Lying or omitting when filling out the contract
Did you know that lying when hiring life insurance can even constitute a crime? When taking out life insurance, many people lie about their habits, such as not drinking and smoking. Some people even lie about the disease. The problem is that the broker has support to verify that the information matches. As a result, many people who end up lying when purchasing life insurance can be sued for fraud and lose all rights – including beneficiaries deprived of any amount.
In other cases, many customers do not provide or omit the most recent information about their lives, or even certain information, which causes the insurer to refuse compensation. Take smoking, for example: even if you didn’t smoke when you applied for insurance, once you start smoking, you must let them know immediately after changing your habits.
5 – Believing that life insurance is only useful in cases of death
Yes, this is a very common mistake both when hiring or deciding not to buy life insurance. What people who make this mistake don’t know is that in addition to natural and accidental death and funeral assistance, life insurance also covers disability due to accidents, medical/hospital/dental expenses and even diseases with an irreversible clinical picture. In other words: life insurance is not death insurance, but aid in dealing with unforeseen events in everyday life.
6 – Failing to take out life insurance
We come to the last topic and the most damaging error. Yes, it is very common for people not to purchase life insurance for the various reasons mentioned in this article.
However, many families have had problems after the death of a loved one, because they no longer took out life insurance. Perhaps for financial reasons, laziness, lack of information and even “delinquency” by the insurer, putting the family in a serious situation.
Therefore, it is increasingly necessary to hire this type of service. Single people, married people, with children, grandchildren, men, women, young people, the elderly, businessmen, liberal professionals, employees, athletes, in short… Life insurance is suitable for everyone, covering numerous unexpected situations, even the most serious ones .
So, start correcting this mistake: take out life insurance, so that your conscience is clear every day. For that, always count on Buy Security . Enjoy and learn about our life insurance plans that fit in your pocket!