Tuesday, 24 January 2006
Life Insurance Buyer’s Tips
To help consumers make smarter life insurance decisions, the American Council of Life Insurers have put together a set of online buyer’s tips.
For example, did you know that many life insurers allow consumers a “free-look” period? That means once you’ve actually bought and received your policy, you have typically 10 days to look it over and change your mind if you wish. If you decide the policy is not right for you in during that time, you can return it and get a refund.
Also, you might think storing your policy in a safe deposit box is a logical move. But according to the ACLI, many states will actually seal off a safety deposit box when the owner dies. While it’s only done temporarily, the delay could prevent your loved ones from accessing funds at a crucial time.
For more great life insurance buyer’s tips, visit the ACLI online.
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