You may have a few questions about life insurance. Have you ever wondered how your life insurance carrier decides how much your policy costs, or what sort of questions you'll be asked when you apply? Below we've put together a mini-FAQ which should fill you in a little:
What kinds of questions will the insurance company ask me?
Generally, they will ask you questions which deal with your health. These questions are to help determine your risk factor, and may include inquiries dealing with smoking, alcoholism, cancer, AIDS, heart problems, stroke, and liver problems. They'll ask about your family's health history, and they will probably ask you if you've ever been disabled or asked to retire early, and if you have/had a hazardous job.
How does the insurance company determine how much my policy will be?
The price of your policy will depend on several factors. Your age, your health condition, your career, and what type of policy you choose will all factor into the cost.
Will all life insurance carriers ask me to have a medical?
Most insurance companies want you to have a medical exam before they agree to insure you, and many of them have a company doctor who will give your exam for free.
Have more questions about life insurance? Contact us today with anything else you want to know! We're Kramer Insurance, an independent insurance agency based in Langhorne, Pennsylvania.
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