20 Feb How to Buy Life Insurance
1. Decide how much life insurance cover to buy
It’s important to choose the right level of life insurance cover for you and your family. This means thinking about your budget and how much you’re willing to pay in life insurance premiums. Also consider your family’s financial situation – if you were to pass away, how much life insurance would they need to cover debts and manage ongoing household expenses, and for how long?
2. Ask about life insurance discounts
While many life insurance providers offer the option to pay your life insurance premiums weekly or monthly, it’s often cheaper to pay life insurance premiums annually. So ask your life insurance provider if any discount applies when you choose annual life insurance premium payments.
Some life insurance providers also offer discounts if your partner takes out life insurance as well.
3. Keep paying your premiums
As long as you keep paying your life insurance premiums, your life insurance cover will continue until you reach a certain age. Some expire when you turn 80 as by then your liabilities are likely to be minimal.
4. Understand the exclusions on your life insurance policy
With any insurance, it’s important to be aware of exclusions on your life insurance policy before you buy. For example, your life insurance may not cover suicide or intentional self-injury at all, or for a specified time.
Buying Yes Life Insurance
If you’d like to buy life insurance from Yes Insurance Solutions, you can get a quick quote or call 1300 512 229and one of our friendly staff can assist you.