One of the most frustrating processes to endure can be completing an application for a life insurance policy. The agent gives you a complete, and I do mean complete, run down of the companies various life insurance policies on offer which could take half an hour more of your valuable time, usually as you are ready to sit down to a meal. When he's convinced you of which policy he thinks you need, he laboriously fills out the form for you, in case you make a mistake. During the form filling, he remembers to tack on a few more provisions, adding to the cost of the premium. At the end of the process when you finally say goodbye to the agent, you are left with the feeling of weary confusion and uncertainty about whether you have done the right thing.
However, there is another method which can be a whole lot easier that what I've just described. E-Policies or online insurance policies are fast becoming the way to apply for life insurance, in fact for just about any form of insurance. There are pros and cons with e-policies, as there are with most things in life, but I'll leave that up to you to decide after you've read this article.
Most of us never consider that we need life insurance until much later in life when we are old. Consider the tragedy of a young couple who, after joyously announcing the birth of their first child, were later given the news that their daughter was blind. This condition required complete round the clock care from at least one of the parents. The couple cashed in their whole life policies to supplement their dwindling savings. Later, the husband was involved in an accident at work and failed to recover from a coma, leaving the family without the means of financial support.
Sometimes, we only consider the bread winner for life insurance. Another couple had five kids, all of school age which required the mother to make their lunches, ferry them to school and to take them to activities they were involved in. The husband had a reasonable paid job but it involved long hours commuting to work and was unable to take up any slack with looking after the children. His wife suffered from a heart attack and died on the way to hospital. Fortunately, both parents had life insurance cover. With the insurance money in the bank, the husband was able to find a part time job that although paid less, was near to home so he could look after the children.
Unless the web site says that the information has been updated on a particular date, you have no way of knowing if the information is up to date or correct. Similarly, if there is no security certificate (SSL) present on the site, you can't verify that the site is a bona fide one, before you enter sensitive personal information. Occasionally, you will find that your city is not covered on the site and you will have to resort to more direct means of communication.
However, there is another method which can be a whole lot easier that what I've just described. E-Policies or online insurance policies are fast becoming the way to apply for life insurance, in fact for just about any form of insurance. There are pros and cons with e-policies, as there are with most things in life, but I'll leave that up to you to decide after you've read this article.
Most of us never consider that we need life insurance until much later in life when we are old. Consider the tragedy of a young couple who, after joyously announcing the birth of their first child, were later given the news that their daughter was blind. This condition required complete round the clock care from at least one of the parents. The couple cashed in their whole life policies to supplement their dwindling savings. Later, the husband was involved in an accident at work and failed to recover from a coma, leaving the family without the means of financial support.
Sometimes, we only consider the bread winner for life insurance. Another couple had five kids, all of school age which required the mother to make their lunches, ferry them to school and to take them to activities they were involved in. The husband had a reasonable paid job but it involved long hours commuting to work and was unable to take up any slack with looking after the children. His wife suffered from a heart attack and died on the way to hospital. Fortunately, both parents had life insurance cover. With the insurance money in the bank, the husband was able to find a part time job that although paid less, was near to home so he could look after the children.
Unless the web site says that the information has been updated on a particular date, you have no way of knowing if the information is up to date or correct. Similarly, if there is no security certificate (SSL) present on the site, you can't verify that the site is a bona fide one, before you enter sensitive personal information. Occasionally, you will find that your city is not covered on the site and you will have to resort to more direct means of communication.
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