How not to waste money in life insurance:
* Skip the cancer insurance – it is better off putting your money toward comprehensive health policies.
* Avoid Mortgage Life insurance – the cost of this policy can be three to five times as much as comparable term-life insurance.
* Neglect ID theft insurance – it will not fix your credit or give you back money stripped from your bank accounts.
* Keep your current policy and add on to your insurance protection rather replacing it – replacing policy incurs new costs and fees.
* Do not buy life insurance for your children – since no one depends on income from them.
* The younger you are – the cheaper the policy.
* Buy before any major health issues arise.
* Consider price breaks- ask how much the prices increase when coverage increases to $250,000, $500,000, or $1,000,000.
* Select the right length of coverage.
* Do not always rely on Work policies – often based on a composite profile of the employees you work with, and they expire if/when you leave the company.
* Consider payment/billing options – some insurers offer discounts to consumers who pay premiums annually.
* Do not smoke – it is often hard for smokers to get great life.
* “The more a person weighs, the more they pay” – consider this determining life insurance policy costs.
* Cholesterol level, Blood Pressure and Build – high level of these factors could increase your premium.
* If you are involved in extreme sports – you could be charged increased rate.
* “Spousal discount” – get coverage on your spouse along with your own.
* Be sure that insurance premium is fix- some may have a fixed premium for the first few years but then the premium may increase.
* Remember that Most companies calculate your “insurance age” by the age you are nearest to, though a few still use actual age.
* Know your insurer – sometimes it cannot pay your claim because of financial weakness.
* Avoid changing your insurance until considering extra charge/fee for renewal.
Things to consider applying for health insurance:
* Check overseas coverage – some insurers do not pay for any overseas medical treatment.
* Claim in time – many insurers do not pay benefits if you make a claim two years after the treatment was provided.
* Contact your insurer before treatment – Many doctors charge fees above the amount you can claim
* Beware of waiting periods – during those period you could not claim any benefit.
How to get a cheap travel insurance:
* Avoid Travel insurance if your current health insurance policy covers you abroad.
* If you make more than two overseas trips a year- buy annual policy as it will be more cost effective.
* Consider family travel insurance – combining policies for couples or families is cheaper as the costs are higher ‘per trip’ than ‘per person’.
* Over 65 old – many insurers offer discount packages for this age.
* If you have a serious medical condition – it could considerably increase the insurance rate thus it may be an idea to get a quote excluding these pre-existing conditions.
* Don not forget that s ingle trip travel insurance is thought to be the most expensive travel insurance.
* Consider the companies network – there is no sense in going with a company if your doctors do not accept them.