NEGOTIATE TERMINATION COSTS IN LIFE INSURANCE

Although this is not the reason for life insurance, there are cases when a person needs to request for a portion of the cash surrender value of the policy, or even terminate the policy and get it all. In this type of situation, an insurance company may charge astronomical fees if they were not negotiated at the time of subscription.

Therefore, you must negotiate cancellation fees from the beginning.

You can add an option to your contract to allow you to obtain a loan. Simply add a maximum percentage to your policy that will be added to the base rate. In this way, it will be this percentage that will be applied to your loan.

READ THE CLAUSES OF THE LIFE INSURANCE CONTRACT

Don’t sign anything without reading everything first! There may be some contract clauses that offer more flexibility than others. Generally, the smaller the print, the more important it is for you to read. Take into consideration that if
it is not stated in the contract, the company will not grant it to you. If you have conditions that you need to add, do so before signing the contract.

It is strongly advised to obtain a contract with the option of converting or your term insurance policy to a permanent life insurance when negotiating your contract. You also need to ensure guaranteed renewal is included. This means you can renew your life insurance even if your health has deteriorated.

STICK CLOSE TO YOUR BUDGET

Do you have a strict budget to follow and precise criteria of what you want to have as protection from your life insurance?

The insurer will be able to adapt the options of your insurance contract according to your budget in order to facilitate your insurance protection. A vast majority of insurers will be able to offer a product that meets your requirements.

Tell yourself that by finding a contract that suits you, they win a new customer and to every insurer, a customer means money. They will do what needs to be done to get you to sign up with them rather than for you to go a competitor.

AN EXPERT THAT HELPS YOU TO COMPARE LIFE INSURANCE

You can talk to only one person to evaluate several products. By asking for the help of a financial security advisor or a life insurance broker, you multiply your options and save time. These professionals have access to the offers of many insurance companies at the same time and can provide you with more competitive quotes than a single insurer. They can, therefore, give you quotes that are tailored to what you are looking for.

Take, for example, mortgage life insurance which is required by many financial institutions when you are taking out a mortgage. A broker will advise you to go with individual life insurance instead to cover your entire mortgage and also provide financial security to your loved ones and cover final expenses. With mortgage insurance, only the lender will benefit from it.

With the platform « Compare Insurances Online », you will know the ins and outs of your contract by having one of our partners (all insurance brokers and insurers) help you.

 These partners are at your disposal and are ready to help you.

 Our form is designed to save you time by targeting your needs through a few brief questions and also allow you to communicate with our partners quickly.

 You will receive a quote based on your profile and you can negotiate the points discussed above.

This form is FREE OF CHARGE and is OBLIGATION-FREE for the user.