Health insurance is a financial resource for your loved ones in the event of your death. Insurance carriers offer life insurance in various forms and different volumes depending on your needs. Your premium payments will depend on many factors including your age, sex, medical history and what type of policy you are applying for.
The amount of health insurance that you need depends on your personal, financial circumstances and your family’s needs. The ability for you to earn an income is your family’s greatest asset. When that asset ceases to exist, your family’s current and financial future is at risk.
Here are a few things to consider when purchasing an insurance policy:
- Be sure the insurance company you are considering is financially stable.
- Do not make any quick decisions. Request a copy of the policy and compare it with policies from different insurance companies.
- Be sure your application is complete and accurate, including all of your medical history, if applicable.
- Do not pay in cash.
- Your broker or the insurance carrier should explain any terms that are not clear.