Steps to Get a Life Insurance | rabbit finance

If you need life insurance, What should you need to do ?

Getting a life insurance is not as difficult as many people think. It can be done quickly and become effective within a short time. The steps are not that complicated and the start is even easier. The first step is when a person would like to purchase an insurance policy and he/she just need to contact the insurance company directly or through an agency or broker. After that, the service provider will let you choose an insurance policy that is most suitable to your needs based on the sum insured and premiums to be paid each year.

Once both sides agreed, the service provider will have you fill all paperworks required. Also, all information filled on paperworks must be true and correct because the fault or fake information might cost you a ditch of liability from the insurance company. After completed all paperworks, one should verify if the information has been filled out correctly or not, and inform the insurance company immediately in case there are any mistakes or changes. The policyholder needs to pay premiums on annual basis as specified on the contract, and keep the receipts as proofs of payments. The payment can be made through money transfer, through any branch of insurance company, or an agency. In addition, the policyholder should tell his family about that insurance he applied, the benefits, and where he keeps the policy. Also, one must notify ‘Office of Insurance Commission’ every time problem occurs.