What To Expect When Applying For Life Insurance?

What To Expect When Applying For Life Insurance?

For many, Life Insurance is the most affordable, reliable and secure way to ensure their families have enough financial resources in place in the event of a loss. Applying for Life Insurance is now easier than ever with options to apply right on-line.

THE APPLICATION PROCESS: The Life Insurance application will ask for some basic information including:

– Name, address

– Height, weight, date of birth

– Habits and lifestyle (smoking habits)

– Medical history

ALWAYS TELL THE TRUTH! When getting life insurance quotes, it’s important to tell the truth. The information you provide helps the insurance company calculate the policy premiums and if an insurer discovers you have lied on your application about basic information OR lifestyle/habits, it could result in an increase to your premium, the cancellation of your policy or coverage, or the denial of your claim.

In some cases, insurance companies will accept your application answers for health-related questions. However, some will require an in-person medical exam. Typically, for lower coverage amounts of up to $250,000 or less, a simple health questionnaire is likely. For higher coverage amounts or for customized individual insurance policies a detailed health screening is more common. Where this is required, your insurance provider will arrange for a medical examiner to visit your home or office, or you will be asked to attend a clinic selected by the insurance company, where they will review your personal and immediate family medical history, take your blood pressure, check your physical attributes, take a blood & urine sample and also review your lifestyle habits that could affect your overall health, including exercise, smoking, alcohol, stress, hobbies, etc. Depending on your age, there may be additional testing like an EKG, X-Rays, or cardiovascular tests.

Once examined, an insurance underwriter will review your application and medical exam …

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What You Need to Know to Find the Best Car Loan

What You Need to Know to Find the Best Car Loan

To help you find the best car loan you need to understand how APR and loan terms work.

– APR – this is the interest rate at which the lender is offering funds

– Loan Term – this is how long you have to pay the money back which you have borrowed.

One of the most cost effective ways to borrow money is to balance APR and a loan term. Many low APR offers are only available on long term products or are subject to many underwriting conditions. At first these seem like a good deal but when you calculate how much interest you are paying over the whole loan, especially once you have confirmed the true APR, you may find that it is actually better to take advantage of the fixed rate offered to you through the dealership.

Setting Your Budget

The best car loan is not just about finding the cheapest APR. You also need to make sure the product can work for you and this means setting your budget. Too many people get carried away and take out finance deals that they cannot really afford. You must never borrow more money than you can afford to repay out of your monthly income. This just puts a huge strain on your finances and makes it very difficult for you to meet your financial obligations. Here are a few tips for helping you to set your budget:

– Existing Repayments – look at your existing credit products including credit cards, store cards, personal loans and mortgages. Calculate how much you need to meet these repayments each month.

– Essential Bills – make a list of all your essential bills such as utilities, groceries and fuel.

– Extras – also make a list of any extras you spend on during …

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