Saturday, August 22, 2015

How to avoid a bad life insurance policy

Whenever I post a story about a bad life insurance policy that "rips off" the customer, I get requests to state the name of the insurance company or the name of the policy.

I decline to do so.

It is better for the consumer to be aware about what is a "bad product" and to use the benchmark to identify any bad product that may be offered to them.

If they put in the effort to understand what is a bad product and why it is a bad product, they can avoid similar bad products that are offered to them.

If they don't put in this effort, they are likely to be caught one day. By then, regret will be too late.

1 comment:

Anonymous said...

I like to know your opinion on the purchase of secondary insurance policy through the use of Absolute Assignment notice.
If I buy a secondary policy, and the insured dies (no relation of me), how will the insurance companies get to know since his family is not going to make the death claim.
As far as the family is concerned, the policy is terminated.

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