Selecting the Right Life Insurance
Recently, I spoke with a client whose father applied for life insurance direct through an insurance company’s website. Unfortunately, he was not given the right advice for the insurance he was looking for and ended up being declined. Had he gone to an advisor/broker to discuss his insurance needs, he would have received the right advice, the correct product for him and now would not have to go searching for another insurance company to use.
Most insurance companies today have their own website and are selling life insurance direct to the consumer. This insurance can be more expensive than by going through an advisor that represents the same insurance companies. You would think that going direct would actually be cheaper, but that isn’t the case with life insurance. The same as banks use a blended rate of non smoker and smoker premiums for their mortgage insurance. A non smoker will pay higher premiums through bank mortgage insurance than through a life insurance company. Typically once you hit your 40’s then life insurance through an insurance company with an advisor regardless of smoking status is less expensive than bank mortgage insurance.
Do your research; speak with an advisor/broker who can provide you with a better selection of products, companies and advice when looking for the right life insurance.
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DCH Guarantee Issue Insurance has over 30 years experience in the life insurance industry.
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