Global Courant
How not to waste money on life insurance:
* Skip the cancer insurance – your money is better spent on a comprehensive health policy.
* Avoid Mortgage Life Insurance – the cost of this policy can be three to five times that of comparable term life insurance policies.
* Neglect ID Theft Insurance – it won’t fix your credit or give you back money that’s been stripped from your bank accounts.
* Keep your current policy and expand your insurance cover instead of replacing it – replacing the policy will incur new costs and fees.
* Do not buy life insurance for your children – as no one depends on their income.
* The younger you are – the cheaper the policy.
* Buy before major health problems occur.
* Consider price breaks – ask how much the prices will increase when coverage increases to $250,000, $500,000, or $1,000,000.
* Select the correct coverage period.
* Don’t always rely on work policies – often based on a curated profile of the employees you work with, and these expire if/when you leave the company.
* Consider payment/billing options – some insurers offer discounts to consumers who pay annual premiums.
* Don’t smoke – it is often difficult for smokers to get a good life.
* “The more a person weighs, the more they pay” – consider this when determining the cost of life insurance.
* Cholesterol levels, blood pressure and physique – high levels of these factors can increase your premium.
* If you are involved in extreme sports, you may be charged an increased rate.
* “Spouse Discount” – Get coverage for your spouse along with your own.
* Make sure the insurance premium is fixed – some have a fixed premium for the first few years, but after that the premium may increase.
* Remember that most companies calculate your “insurance age” using the closest age to you, although a few still use the actual age.
* Know your insurer – sometimes they can’t pay your claim due to financial weakness.
*Avoid changing your insurance policy until you consider additional fees/fees for renewal.
Things to keep in mind when applying for health insurance:
* Check foreign coverage – some insurers do not pay for medical treatment abroad.
* Claim on time – many insurers will not pay out if you make a claim two years after the treatment has been given.
* Contact your insurer before treatment – Many doctors charge fees above the amount you can declare
* Beware of waiting periods – during that period you could not claim benefits.
This is how you take out cheap travel insurance:
* Avoid travel insurance if your current health insurance covers you abroad.
* If you make more than two trips abroad per year, buy an annual policy as it is cheaper.
* Consider family travel insurance – combining policies for couples or families is cheaper as the cost ‘per trip’ is higher than ‘per person’.
* Over the age of 65 – many insurers offer discount packages for this age.
* If you have a serious medical condition, it can significantly increase the insurance rate, so it may be an idea to get a quote that excludes these pre-existing conditions.
* Remember that single trip travel insurance is considered the most expensive travel insurance policy.
* Consider the company network – there’s no point in going with a company if your doctors don’t accept them.
How to get cheap living, health and travel
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