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Life Insurance Mistakes and Errors

April 13, 2012 | Comments: 0 | Views: 126

Some people put off buying life insurance because they are not exactly sure what goes into obtaining a policy nor do they know what kind of policy they will need. You might think that if they just asked someone who knew then their problem would be solved, well you are right. However, some people do not feel comfortable asking questions. They do not want to feel judged or embarrassed. If you are one of those people, then you are not alone. This article will look at a few of the errors and mistakes that people make when they are either looking at life insurance or they are obtaining a policy. Hopefully a few of these lessons will keep you from making the same mistakes yourself.

One of the first mistakes is not completing your policy application completely. You cannot expect the insurance agent to catch every error on your form, mainly because they are not aware of you personally and your health. So if you find that you have left something off of the form then you need to make sure it is corrected within the contestable period of the policy or else the policy could be void.

Another common problem is that the age or sex is wrong on a policy. I know you are wondering how this can happen, but we are all human and errors do occur. The only problem with this error is that it is usually not caught until the policy holder dies. Do not worry though, the insurance company will usually work with you and adjust the policy so that it matches the information correctly of the person that has died.

Another concern for people is usually what happens if they move. In today's time people are relocating for jobs all the time and it is hard to believe that a person will stay in the same place throughout the course of a lifetime. As a policy holder you should know that your move should in no way cancel your policy with and insurance company. In fact, there should not be any changes that occur.

So what if for some reason you are having an issue with your agent correcting any of these problems listed above? Well first, I would recommend you trying to work out the problem with the agent first. Yes, this might take some patience on your part and understanding but it could be better for the both of you in the end. If however, you are not able to do so then you always have the right to speak to a supervisor or president of the company. This can be in person or through correspondence. If it is still an issue after that then you will need to contact your State Insurance Department.

When filling out the application there are always accidents or mistakes that can occur, but when you do your research on life insurance quotes and you take your time you are less likely to make mistakes. You will also have time to look over the policy and make sure that there are no problems. Remember, the agency wants your business so they should do everything that they can to provide you with all life insurance information that you need.

June OwensboroWhole Life Insurance Quotes Life Insurance Mistakes

Source: EzineArticles
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