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March 11, 2021 4:00 AM Tony Steuer - Forbes Advisor
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Updated:
March 12, 2021 11:54 AM
A life insurance policy can be long and complex, with over-lawyered details in a small font. You may rely on your life insurance agent to steer you toward a good policy and tell you the crucial details. But an agent might not touch on everything you should know.
Here are 10 things you may not notice about your life insurance policy but should pay attention to.
No. 1: The Free Look Period
Life insurance policies include a free look period. It’s required to be at least 10 days, and can extend to 30 days, depending on your state and age. During the free look period, you can cancel the policy for any reason and receive a full refund of any premiums paid. This is an opportunity to review the terms and conditions of the policy to ensure they meet your expectations.
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January 14, 2021 4:00 AM Tony Steuer - Forbes Advisor
Posted:
Updated:
January 15, 2021 12:19 PM
All life insurance agents are not the same. Life insurance policies can be complex, so depending on your needs, you need an insurance agent who is qualified to help you find the right policy. Your agent should also be committed to providing ongoing service.
There are two main types of insurance agents:
Captive agents. These agents primarily represent one specific insurance company.
Independent agents. These agents represent multiple insurance companies.
This an important distinction, as captive insurance agents will generally recommend policies only from their primary insurance company. Captive insurance agents will in some instances offer policies from other companies such as when the primary company does not offer the specific type of policy wanted or the client is not able to qualify for insurance.