TIPS FOR BUYING LIFE INSURANCE

Here are some tips from the Washington State Office of the Insurance Commissioner for buying life insurance:

1. Never buy coverage you don’t understand. It’s the responsibility of the agent, broker or company to explain your coverage in terms you can understand.
2. Save every piece of paper explaining your coverage and your policy. Keep them on file with your policy. If the agent used a laptop computer, insist on a paper copy of what he or she showed you.
3. With every new insurance policy issued in Washington state you get a 10-day “free-look” period. If you change your mind and return the policy during the free-look period, the company must return your premium within 30 days.
4. Don’t cancel or let your old coverage expire until your new policy takes effect.
5. A life insurance policy is not an investment. If an agent or broker tries to sell you life insurance as an investment with a high return, insist they show you that specific guarantee in your contract.
6. Ask questions. If someone offers you a chance to replace a small policy for a larger one that doesn’t cost you a lot more, watch out.
7. If you give money to an agent or broker, always get a receipt.
8. Never sign a form with blank spaces and only buy insurance from a licensed agent or an authorized company.

We are licensed life insurance agents and would be happy to review your life insurance needs and discuss what is right for you. One size does not fit all!
Call us today- AIC Insurance, (509)-764-4447. Serving the Columbia Basin and the Pacific Northwest.