Four Questions You Might Be Afraid To Ask About Life Insurance

Here at WAEPA, we believe in providing all federal employees with the best available life insurance policies without all the excess expenses of traditional life insurance companies. If you would like to learn more or have any questions, feel free to contact us today.

Four of the Top Questions We Get About Life Insurance

Chances are if you have lived long enough to be considering life insurance that someone has tried to sell you a life insurance policy that seems a bit fishy. There are a lot of factors when it comes to choosing the right life insurance policy, and if you are unprepared or choose the wrong provider, you could find yourself essentially throwing money away.

1. Do I Have The Right Coverage?

Just because you have a life insurance policy doesn’t mean that your family is covered in the case of an accident or an emergency. Certain life insurance policies are extremely restrictive and limiting when it comes to covering your family’s expenses.

The first thing you need to do is to find a company that actually cares about your policy and isn’t going to treat you like a potential paycheck. Once you have chosen the right company, you need to make sure that you get a policy that works for you and your family’s needs. There is no need to buy the most expensive policy just to have it if it doesn’t work for your family, and you don’t want to skimp out and leave your family high and dry. We’ve made it easier than ever to find the perfect policy for you with our life insurance calculator. This ingenious tool allows you to quickly input your basic personal information and find the policy that is perfect for you.

2. If I Have a Preexisting Condition, Can I Still Get Insurance?

Certain conditions can limit the policies and plans that you have access to. Higher risk issues like obesity, diabetes, heart disease, and other life-threatening issues can make your policy more expensive. Make sure that you know your risks, protect your health, and find a company that will work for you. There is no harm or cost associated with applying for life insurance, so you have nothing to lose.

3. Can I Have Multiple Policies?

As long as you qualify for any given policy, you can purchase as many policies on the private market that you want to. Make sure that you are doing your research and not just purchasing the same policies from different companies owned by the same parent company as oftentimes these companies will refuse to payout multiple claims filed by the same household.

4. How Can My Family Collect on my Life Insurance?

Once you or the policyholder has passed away, a member of your family will need to file a claim for your policy. Make sure that your family is not only aware of the fact that you have a life insurance policy, but that they know how to contact the company and file this claim. You can make this process even easier by setting up an estate plan beforehand.