Good or bad, myths contribute to high or low numbers signing up for life insurance. Is life insurance good for me? That's a question everyone should ask, in respect to the fact that all the information we hear about life insurance is not true or has been exaggerated. Many people generally think that life insurance kenya would be a good investment, but not so when it comes to signing up. Others think that you cannot negotiate a better rate and that you should always expect fill disclosure of commissions. Knowing the myths is important for those considering to b buy covers from medical insurance companies in Kenya or motor insurance cover in Kenya.
1. You can't be turned down regardless of your illness: Do not believe these offers where an agent tells you so when purchasing covers from medical insurance companies in Kenya. Run away from situations where low-cost, no medical exam guaranteed-issue life policies are being sold. The truth is the company might contest that information and argue that you provided false information. Remember, only about 10 percent of people qualify for insurer's best rates available.
2. Someone discloses commissions: It is not true because many argue that disclosing commissions, which run to 85 percent of first-year premiums and annual renewal commissions amounting to 7 percent, could kill sales. However, you should estimate the amount by comparing the first-year surrender value to first-year premium. The amount of money taken by the agent increases as the surrender value nears zero. However, medical insurance companies in Kenya will need you to purchase the cover so you can know this information. If it is possible, get a competing quote from companies that sell direct policies without commissions and compare the values.
3. Life insurance is a good investment: Unfortunately, insurance is insurance and not investment, not even for motor insurance Kenya. Actually, many say that life insurance is sold not bought because, after all, you might not live to get the money. Another issue is that half of buyers drop out within 10 years into it and never get good returns for their money.
1. You can't be turned down regardless of your illness: Do not believe these offers where an agent tells you so when purchasing covers from medical insurance companies in Kenya. Run away from situations where low-cost, no medical exam guaranteed-issue life policies are being sold. The truth is the company might contest that information and argue that you provided false information. Remember, only about 10 percent of people qualify for insurer's best rates available.
2. Someone discloses commissions: It is not true because many argue that disclosing commissions, which run to 85 percent of first-year premiums and annual renewal commissions amounting to 7 percent, could kill sales. However, you should estimate the amount by comparing the first-year surrender value to first-year premium. The amount of money taken by the agent increases as the surrender value nears zero. However, medical insurance companies in Kenya will need you to purchase the cover so you can know this information. If it is possible, get a competing quote from companies that sell direct policies without commissions and compare the values.
3. Life insurance is a good investment: Unfortunately, insurance is insurance and not investment, not even for motor insurance Kenya. Actually, many say that life insurance is sold not bought because, after all, you might not live to get the money. Another issue is that half of buyers drop out within 10 years into it and never get good returns for their money.
