So you have probably made up your mind to buy a life insurance policy
but you don't know which company to choose from the lot. Here are some things
you should consider as you proceed.
Types of Policy Offered
While there are several variations of life insurance policies in the
market today, there are basically summed up into two types of life insurance
policy - Term and Permanent life insurance. Do not assume the company will
offer both. Ask them directly which types they offer.
Reputation of the Company
You should know how well the company treats other policyholders. You
can always get this by asking around or doing your research on each company.
It's never too much to carry out a research; remember you'll be putting your
life insurance in their hands.
History and Experience
Nothing beats experience! A good life insurance company should have a
vast knowledge on all that life insurance entails and should have enough
experience to back the knowledge. Ask for proof and other things to verify
their experience level.
They should be licensed
The insurance industry is well regulated in most countries. Any life
insurance company must be duly licensed and registered with the country's
insurance department. This would be there company is being governed and
directed by the laws of the State.
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