So, you believe that there's more wrong than right with the life insurance policy you have.
Your premiums have been raised recently and you'll also need to have your policy adjusted to incorporate all the changes and possible challenges that this stage of your life has brought.
It feels like they're charging you an arm and both legs, and you're considering cancelling your policy and moving to a new life insurance provider.
But is that really the smart move? How can you be certain you'll end up with a better deal? Here are the 4 questions you should ask yourself before you do anything: 1.
Is what they're charging me really unreasonable? It doesn't matter which insurance provider you're with, premiums rise after a certain amount of time, and premiums also get adjusted when you make changes to your policy.
So don't be too quick to label these price hikes 'unreasonable'.
Research other insurance companies and compare their package deals and inflation schedules with yours.
2.
What are my options? Don't be impulsive and just cancel your policy.
Before you even consider cancelling it, it's again advisable to shop around and see what's out there.
Don't just check out a couple of websites - do some thorough research.
Ask around, read online reviews and get free online quotes.
3.
How old am I? Your age impacts your monthly instalments, no matter what insurer you choose, meaning the older you are the higher your premium will be.
Taking out a new life insurance policy could therefore cost you more than you're paying at the moment.
Also, if you're past retirement age, it might not be the wisest thing to change your policy.
Not only will your premium be ridiculously high but something might happen today or tomorrow and you don't want to be in between policies if it does.
4.
What are the credentials of the new insurer I'm considering? When it comes to things like life insurance it's never a good idea to settle for the new kid on the block, even if their rates are cheaper.
You want a company that's been in existence for a while, has a good track record and that you know is financially secure.
Also ensure that the agent who'll be representing you is adequately trained and educated.
You don't want someone handling your life insurance policy and not knowing what they're doing.
Remember that cheaper isn't always better and that you usually get what you pay for.
If your research shows that there is a better option out there, then go for it.
Again, just remember to go for a credible service provider.
Consider a needs-matched life insurance cover, which is a new approach to life insurance.
This might just be the change you're looking for.
Your premiums have been raised recently and you'll also need to have your policy adjusted to incorporate all the changes and possible challenges that this stage of your life has brought.
It feels like they're charging you an arm and both legs, and you're considering cancelling your policy and moving to a new life insurance provider.
But is that really the smart move? How can you be certain you'll end up with a better deal? Here are the 4 questions you should ask yourself before you do anything: 1.
Is what they're charging me really unreasonable? It doesn't matter which insurance provider you're with, premiums rise after a certain amount of time, and premiums also get adjusted when you make changes to your policy.
So don't be too quick to label these price hikes 'unreasonable'.
Research other insurance companies and compare their package deals and inflation schedules with yours.
2.
What are my options? Don't be impulsive and just cancel your policy.
Before you even consider cancelling it, it's again advisable to shop around and see what's out there.
Don't just check out a couple of websites - do some thorough research.
Ask around, read online reviews and get free online quotes.
3.
How old am I? Your age impacts your monthly instalments, no matter what insurer you choose, meaning the older you are the higher your premium will be.
Taking out a new life insurance policy could therefore cost you more than you're paying at the moment.
Also, if you're past retirement age, it might not be the wisest thing to change your policy.
Not only will your premium be ridiculously high but something might happen today or tomorrow and you don't want to be in between policies if it does.
4.
What are the credentials of the new insurer I'm considering? When it comes to things like life insurance it's never a good idea to settle for the new kid on the block, even if their rates are cheaper.
You want a company that's been in existence for a while, has a good track record and that you know is financially secure.
Also ensure that the agent who'll be representing you is adequately trained and educated.
You don't want someone handling your life insurance policy and not knowing what they're doing.
Remember that cheaper isn't always better and that you usually get what you pay for.
If your research shows that there is a better option out there, then go for it.
Again, just remember to go for a credible service provider.
Consider a needs-matched life insurance cover, which is a new approach to life insurance.
This might just be the change you're looking for.
